Supplier payment fraud remains one of the most persistent threats facing growing businesses – from fake invoices and phishing attempts to last-minute changes in bank details. At PM+M, we take this risk seriously. That’s why we’ve partnered with Mimo, a secure payments platform, to deliver a robust Payments as a Service (PaaS) solution for our clients – combining cutting-edge technology with hands-on expertise to reduce risk and improve efficiency.
Luke Irving, PM+M cloud accounting manager, explains more…
A smarter, safer payment flow
With Mimo’s intelligent payment platform, Dext’s invoice capture capabilities and PM+M’s deep understanding of our clients’ operations, we’ve built a secure, streamlined payment process with fraud prevention and accountability embedded at every step:
1.Invoice capture and document upload: Using Dext’s invoice capture capabilities, invoices can be uploaded or forwarded via email. PM+M utilises this automation to streamline the bookkeeping process, whilst reviewing the data for accuracy and ensuring all relevant documentation is in place.
2.Internal review by PM+M: Before anything reaches the client, we conduct a forensic-level review – checking for red flags such as last-minute bank detail changes, duplicate invoices, or unusual payment patterns. This step leverages our understanding of your business history and supplier activity.
3.Mimo’s automated fraud checks: Mimo applies real-time validation by reading invoice data (e.g. supplier names and bank details) and cross-checking it against payment instructions. The platform flags inconsistencies, and for UK payments, runs ‘confirmation of payee’ checks to verify recipient banking details.
4.Client approval: Only after all checks are complete is a consolidated payment request sent to the client. This ensures you can approve with confidence – knowing each payment has been independently verified by both people and technology.
Embedded fraud prevention
Our PaaS model removes the risk of relying on a single person to spot fraudulent payments. Instead, fraud prevention is built into every stage of the workflow:
- Automation to detect issues before money leaves your account
- Expert human review from PM+M for added judgement and oversight
- Secure final approval by the client through Mimo’s platform
This layered, collaborative approach has already helped clients stop potential scams before they happen – reducing risk, stress, and financial loss.
Beyond supplier invoices: full support for payroll, tax and event payments
Our service isn’t limited to supplier invoices. We also support payments for taxes, payroll and ad-hoc payments – including those for team events like Christmas parties or staff away days.
Where these payments qualify for tax exemptions (e.g. HMRC’s £150 per-head rule), PM+M:
- Reviews the payment and supporting documentation to ensure compliance
- Confirms the correct treatment for tax and reporting purposes
- Submits the request for approval via Mimo’s secure platform
Everything is recorded, validated, and easily auditable – giving you complete control and visibility.
Peace of mind for modern businesses
Our goal is to help clients scale securely – without the need to build an in-house finance team. Whether you’re paying a supplier or reimbursing a staff event, PM+M and Mimo deliver a smarter, safer way to manage payments:
- Built-in fraud protection
- Streamlined approvals
- Total financial visibility
Want to streamline and protect your payments?
If you’re ready to simplify your payment process and reduce fraud risk, our Payments as a Service solution is here to help.
Get in touch with Luke Irving by clicking the button below to learn how PM+M and Mimo can help you stay in control – and grow with confidence.
