Bottomline Technologies, a leading financial technology company, has announced that its flagship product, Paymode-X, is now granting open access to its robust B2B payment network. Paymode-X, established in 1999, caters specifically to businesses looking for secure and efficient digital payment solutions. By opening up its network, Bottomline aims to further revolutionize the B2B payment landscape.
With over 400,000 members already utilizing Paymode-X, the move to open access is expected to maximize its reach and benefit a wider range of businesses across industries. The secure platform offers numerous advantages, such as streamlined payment processes, increased cashflow visibility, enhanced security measures, and transformative cost-savings.
“We are thrilled to expand access to our leading B2B payment network, Paymode-X. Our goal is to empower businesses to simplify their payment operations and unlock new growth opportunities,” said Rob Eberle, CEO of Bottomline Technologies.
Paymode-X boasts a comprehensive suite of features designed to optimize payment processes. It enables efficient electronic invoice presentment and payment (EIPP) capabilities, automatic payment reconciliation, and facilitates seamless integration with existing financial systems.
By eliminating manual tasks and automating payment processes, businesses can reduce errors, save time, and redirect focus on strategic initiatives. Additionally, Paymode-X offers robust fraud detection and prevention measures, ensuring secure transactions and protecting businesses against potential cyber threats.
The open access initiative by Bottomline will provide businesses the opportunity to leverage the extensive network of vendors, suppliers, and financial institutions. Through a single connection, companies can streamline their payment operations and expedite cash flow, while still maintaining compatibility with existing software and systems.
Paymode-X supports various payment types, including ACH, virtual card, and wire transfers. It also offers enhanced payment visibility, providing businesses with real-time information to make informed financial decisions. By utilizing Paymode-X, companies can unlock both financial and operational agility, gaining a competitive edge in today’s dynamic business environment.
Bottomline’s Paymode-X open access marks a significant step forward in facilitating innovative B2B payment solutions. As more businesses join the expanding network, the industry can expect accelerated digital transformation, greater efficiency, and ultimately, enhanced profitability.