BNY Mellon Adds Paymode-X to its Portfolio of Payment Solutions
Collaboration will support BNY Mellon clients converting from paper to electronic payments
BNY Mellon and Bottomline Technologies today announced an agreement that will add Bottomline Technologies’ Paymode-X payment network to the portfolio of payment solutions provided by BNY Mellon’s Treasury Services business.
Providing access to Paymode-X will enhance BNY Mellon’s support for clients converting from paper checks to electronic payments. One of the world’s largest business-to-business payment networks with more than 300,000 members, Paymode-X facilitates the secure and efficient online exchange of electronic payments and remittance advices between payers and vendors – all in a user-friendly and intuitive format.
”The distinguishing characteristics of the Paymode-X network—its size, security of payment and account information, ease of vendor onboarding and detailed electronic remittance delivery—make it a perfect fit for our payment solutions portfolio,” said Anthony Brady, managing director and global head of business strategy & market solutions for BNY Mellon’s Treasury Services business. “Migrating from paper to electronic payments is key to improving payment efficiency, and Paymode-X will significantly enhance our support for clients making that transition.”
“BNY Mellon’s use of Paymode-X is a plus for our two companies. It’s also a big win for the BNY Mellon clients that use our network,” said Rob Eberle, President and CEO of Bottomline Technologies. “Processing payments via Paymode-X can deliver significant operating cost efficiency improvements and other benefits for BNY Mellon’s clients.”
Source: BNY Mellon – BNY Mellon Adds Paymode-X to its Portfolio of Payment Solutions