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Contract Number: EI00042

Contract Date: 11/01/2020 – 08/31/2025

Agreement: LPA

Renewals: 1 1-year renewal remaining

RFQ

eProcurement: N/A

RFP Number & Name: 683516 / Supplier Information Management Solution

PaymentWorks

The PaymentWorks contract offers their Business Identity Platform, which enables institutions to automate the collection and verification of business identify information for payees to prevent fraud. Members can eliminate the risk of payments fraud, reduce costs by shifting from checks to ACH payments, and ensure compliance by automating the payee-management processes.

PaymentWorks protects organizations from business payments fraud and ensures compliance with increasingly intense regulatory requirements and scrutiny. Through their platform, members automate the collection and verification of business identity information for all their payees, allowing for the continuous monitoring and updating of this information while thwarting efforts to hijack existing vendor records and redirect payments.

Contract Highlights