US-based TD Bank has partnered with Bottomline Technologies to launch new electronic payment service for its US business banking customers.

The B2B payments service will be provided through Bottomline Technologies’ Paymode-X with Visa Payables Solutions.

Following the deployment, the Paymode-X with Visa Payables Solutions will offer TD Bank’s corporate and commercial clients with integrated payables capabilities.

The solution, which combines Bottomline’s Paymode-X with Visa Payables Solutions, will allow businesses to make card, ACH and check B2B payments to vendors in a single process.

With a network of more than 385,000 businesses, Paymode-X is designed to settle all transactions in the most beneficial payment type.

It helps to optimise automation and financial returns across the network as well as reduce associated costs.

Furthermore, the bank customers can utilise Bottomline’s Intelligent Engagement Model, which facilitates AP automation benefits realisation.

TD Bank head of corporate products and services Rick Burke said: “TD Bank strives to provide our customers with the most efficient payments solutions on the market to better integrate with their systems and bring greater convenience.

“Adding Paymode-X with Visa Payables Solutions to our offerings not only brings a compelling economic model for our customers, but expands TD’s payment capabilities across two sizable networks with proven success in vendor acceptance.”

Bottomline Technologies general manager for Paymode-X Business Solutions Jessica Moran said: “TD Bank is known for offering innovative payments solutions to its corporate customers. We’re proud to work with TD Bank to help deliver market-leading integrated payables capabilities to the markets they serve.”