By Raphael Michilis
Bank of America Merrill Lynch (BofA ML) has launched an iPad app version of Paymode-X, the bank’s online payments and electronic invoicing solution powered by Bottomline Technologies.
The portable platform gives treasurers real-time access to critical corporate payments information, and mobility, allowing them to take actions to ensure that payment and settlement cycles continue to flow wherever they go.
“It’s an incredibly powerful tool, allowing businesses to remotely connect to their payments and invoicing system, and as a result, have better control, efficiency and predictability of their cash flow,” said Kevin Phalen, head of card and comprehensive payables at BofA ML.
Paymode-X connects users to a private network of over 185,000 suppliers that accept e-payments and send e-invoices, as well as supports paper cheque print services through single file integration.
In 2011, BofA ML clients processed over 88 millions of transactions worth more than $ 125bn through Paymode-X.
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