This project represents the first coordinated, comprehensive and system-wide strategy to streamline disbursements, ensure consistent processes for campuses and suppliers and incentivize rebates / discounts.
With the implementation of Total Supplier Manager (TSM), Treasury and UPST have the opportunity to align payment strategies with advances in banking.
Primary Benefits:
- Reduction of high cost, and operationally inefficient payment methods
- Transfer risk to third parties with better controls
- Use payment terms more favorable to suppliers
- Net payment discounts & third-party rebate
Payment Tools:
- Existing Electronic Payment Programs
- Virtual Card
- Paymode-X ACH
- Recipient Select Plus
Questions for the University:
For questions about Supplier Onboarding and/or Net Payment Terms at the University please contact A&Fsupport@umassp.edu.
For questions about University Payment Options please contact treasurer_epay@umassp.edu
Important Payment Information for New Suppliers
| University Preferred Payment Options | Net Payment Terms | Type of Supplier |
|---|---|---|
| Virtual Card | Net 15 | Domestic Entities |
| Paymode-X ACH Premium | Net 20 | Domestic Entities |
| Recipient Select Plus | Net 30 | Individuals |
| Other Payment Options | Net Payment Terms | Type of Supplier |
|---|---|---|
| Paymode-X ACH Basic | Net 30 | Domestic Entities |
| Checks | Net 45 | Entities |
Preferred Payment Options
Virtual Card for Domestic Entities:
Paymode-X Virtual Card Benefits PDF
Join Paymode-X
Use the following link to enroll in Paymode-X https://go.paymode.com/umass/G-PR5YE6PB6
Paymode-X Enrollment Team – This team can assist with any questions about the enrollment process and setting up vendor membership. They can be reached at: 800-331-0974 or enrollment@paymode-x.com
Paymode-X Member Services – This team can answer any questions post-enrollment about a vendors membership detail, how to process payments, and pull reports.
They can be reached in 1 of the following ways:
1. Customer Care Portal: https://secure.paymode.com/pk/login Select Customer Support on the drop-down menu in the top-right corner
2. Priority phone line: 1-877-702-BOFA (2632)
3. Email: memberservices@paymode-x.com
Paymode-X ACH for Domestic Entities:
Join Paymode-X
An authorized user in your organization can contact Paymode-X Enrollment Team. They can be reached at: 800-331-0974 or enrollment@paymode-x.com
Paymode-X Enrollment Team – This team can assist with any questions about the enrollment process and setting up vendor membership. They can be reached at: 800-331-0974 or enrollment@paymode-x.com
Paymode-X Member Services – This team can answer any questions post-enrollment about a vendors membership detail, how to process payments, and pull reports.
They can be reached in 1 of the following ways:
1. Customer Care Portal: https://secure.paymode.com/pk/login Select Customer Support on the drop-down menu in the top-right corner.
2. Priority phone line: 1-877-702-BOFA (2632)
3. Email: memberservices@paymode-x.com
Paymode-X Member Services Contact Information PDF
Recipient Select Plus (RSP)
Recipient Select Plus (RSP) is an innovative payment platform powered by Bank of America, designed to offer individual suppliers-both domestic and foreign- a convenient choice between traditional and electronic payment options.
U.S. domestic payment options: Zelle®, PayPal or US ACH (Direct Deposit)
Cross-border foreign payment options: PayPal
Flyer pdf.
RSP Knowledge Articles: