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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 (NASDAQ: EPAY), 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."

BNY Mellon will feature Paymode-X in their exhibit 1012 at the Association for Financial Professionals (AFP) Conference in Denver, Colorado from October 18-21.