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.”

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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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.

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