State of Maine Pilots PayMode Internet Payment Solution

Pilot Aims To Establish Maine As The Nation’s First Electronic Payment Community

PORTLAND, ME and AUGUSTA, ME— April 17, 2001 — The State of Maine has agreed to pilot PayMode, the business-to-business electronic payment solution. The State of Maine will begin making payments to a select number of the State’s vendors, suppliers, partner organizations and municipalities. The State of Maine has decided to implement the pilot program to reduce the cost of State disbursements, improve the efficiency of its payment processes and build on the State’s momentum as a public sector technology innovator. “Maine has long been recognized as an attractive place to live and work, but Maine is also quickly establishing itself as a hub of technological innovation,” said Maine Governor Angus King.

With the PayMode payment solution, rich remittance information travels in tandem with payments in a purely digital format, and links with the existing accounts payable and accounts receivable systems of its users for efficient posting, processing and reconciliation. PayMode requires no changes to existing systems, internal payment processes or bank relationships.

Through this pilot, the State will encourage other Maine businesses and organizations to adopt PayMode for the settlement of their own business-to-business payments. To date, more than 40 Maine-based companies are using PayMode’s electronic payment and remittance information services.

Contact: Ann McCormick , 207-771-3769,  ann_f_mccormick@fleet.com