Network growth expands access to secure electronic payments for 635,000 businesses
- More than $570 billion in annual payment volume
- 635,000 businesses connected through the Paymode network
- 40% year-over-year growth in premium spend on the network
- Strategic partner ecosystem grew from 7 to 27 partners in three years
- Strategic vendors increased payment relationships on the network by 134%
Bottomline, a leading provider of business payments and cash management solutions, today announced that its Paymode network now processes more than $570 billion in annual payment volume and connects 635,000 businesses. The milestone reflects continued adoption of electronic business payments as organizations seek more secure and efficient ways to pay suppliers, improve cash flow, and reduce payment fraud.
“Businesses need payment solutions that help them operate more efficiently while reducing risk,” said Craig Saks, CEO of Bottomline. “Paymode’s growth reflects the increasing value of a connected payments network. As more businesses, banks, and partners join, participants gain access to expanded payment opportunities, stronger fraud protection, and greater automation and intelligence across the payments lifecycle.”
Network Growth Delivers Greater Value
The Paymode network connects businesses, making it easier for them to exchange payments securely and efficiently. As the Paymode network grows, customers gain access to more authenticated vendors, secure electronic payments, opportunities to improve cash flow, and built-in fraud prevention capabilities.
That scale is increasingly important as payment fraud continues to rise. Every vendor enrolled in the Paymode network is verified before activation and monitored for risk signals that may indicate account compromise or fraudulent activity.
As well as significant spend growth, customers lost zero dollars to fraud on payments sent through the network to an enrolled Paymode vendor. This gives customers greater confidence to adopt electronic payments while maintaining strong controls and security.
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Partner Expansion Accelerates Adoption
Over the last three years, Paymode’s strategic partner ecosystem has grown from 7 to 27, extending the network’s reach through relationships with financial institutions, fintech companies, ERP providers, and embedded payments platforms.
As new partners connect businesses to the Paymode network, more vendors become accessible, more payment relationships are established, and electronic payment adoption continues to grow. This growth benefits both existing participants and those joining the network for the first time.
The impact is especially clear among large corporate vendors. Today, these businesses receive payments from an average of 110 businesses through the network, up from 47 businesses in 2021, representing a 134% increase in trading relationships. These additional connections help drive payment volume while making the Paymode network more valuable for both businesses and vendors.
Continuing to Innovate Business Payments
Bottomline continues to invest in expanding the Paymode network, strengthening fraud protection, increasing vendor engagement, improving the payment experience, and advancing AI-powered payment intelligence. By combining trusted network data, payments expertise, and AI, Bottomline is focused on helping customers unlock more value from the connections, transactions, and business relationships across the Paymode network while improving cash flow visibility, strengthening fraud protection, and reducing manual effort.
With more than $570 billion in annual payment volume and 635,000 connected businesses, Paymode continues to help organizations make vendor payments more secure, reduce complexity, and improve operational efficiency.
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