Paymode Protects Your Business Relationships from Fraud

Fraudsters target accounts receivable teams to misdirect payments, and if successful, they can cost both payers and suppliers money, strain key business relationships, and more damaging impacts. Paymode prevents this.

Fraud is growing in scope and sophistication every year, which makes protecting your critical account information important. If a fraudster can impersonate your business to steal a payment from your customer, a critical business relationship can be strained or destroyed, and you may never receive the payment you were owed. Paymode prevents these losses by authenticating and verifying your bank account details with Plaid, the most secure solution in the market, and by protecting those details behind multiple layers of security. That ensures you never have to worry about fraudulent transactions, and your payers will never slow or stop payments due to fraud concerns while using Paymode.

We keep your business safe by:

• Validating and storing critical bank account information
• Notifying your business if someone has compromised your email
• Protecting business relationships by ensuring payments aren’t misdirected
• Strengthening business defenses against future attempts if you’ve recently dealt with fraud

Know about BEC attempts before it’s too late

Business email compromise is the single biggest fraud threat facing U.S. businesses, as one in three successful fraud attempts originated through email last year. Paymode-X is built to protect you and your payers from this scourge. We notify every business on the network directly if we see that someone is attempting to access our network with false credentials or a spoofed email, blocking the attempt in the process. That ensures your payment isn’t re-routed and that you have early warning so you can take the necessary steps to lock fraudsters out of your accounts.

Each year, 500,000+ businesses exchange $300 billion in payments through Paymode-X without a single instance of fraud.