Introducing Paymode-X at UCSD

UC San Diego is excited to announce the successful launch of a new revenue-generating payment method, Paymode-X. Paymode-X is an electronic payment network designed to provide suppliers with security, efficiency, and opportunities for cost savings. Consistent with the objectives of Procure-to-Pay, Paymode-X issues payment in the form of direct deposit/ ACH with terms of net 30. Payments are automatically deposited to the supplier’s bank account. Suppliers receive payment faster, via a secure method. Paymode-X aligns with UC San Diego’s paperless payment and cost savings initiatives by reducing the number of check payments issued and conserving administrative resources.

Paymode-X has launched a campaign to identify suppliers who will benefit the most from enrolling in this optional payment method. Upon agreement from the supplier, UC San Diego’s Payment Services team completes the enrollment process to facilitate a seamless transition.

Since the May 1 launch date, Paymode-X has enrolled 250 suppliers, processed 225 payments totaling over 1.2 million dollars, and has garnered approximately $4,029 in incentives.