Benefit from rigorous vendor validation
Paymode-X uses more than 300 data points to validate vendors and make sure they are who they claim to be - and are not on any blacklists. These validations occur before you’ll make a single virtual card or premium ACH payment over our network.
Plus, whenever a request is made to change bank account information, these validations - including IP location and type, device being used, and other digital identity variables - are repeated in full.
Strength in numbers
The Paymode-X payments network counts more than 550,000 payers and payees - all fully validated. That means it's extraordinarily difficult to impersonate vendors and intercept their payments.
Plus, Paymode-X uses a broad range of partners to enrich data to detect fraudulent activity.
Enjoy multi-layered protection
Both payees and payers must use multifactor authentication before they can transact on the Paymode-X portal.
This mobile phone-based authentication offers additional levels of protection, and protects from common Business Email Compromise, phishing and phone-based frauds.
Don't sweat BEC. Paymode-X stops it.
Paymode-X deploys a sophisticated net of detection strategies to prevent Business Email Compromise and identify imposter vendors. These include flagging unusual log-in times, IP addresses, and devices used.
We know these prevention efforts work because they have successfully blocked many BEC attempts over the years. In fact, Paymode-X processes $400B in payments a year with 0 fraud.
Make secure bank-to-bank transactions to your vendors.
Paymode-X will send a one-time use virtual card to your vendors.
"We chose Bottomline because Paymode-X verifies the banking information of our vendors. We no longer are responsible for maintaining vendor banking details."
Accounts Payable Manager and Paymode-X customer