diff --git a/account_payment_mode/migrations/16.0.2.0.0/post-migrate.py b/account_payment_mode/migrations/16.0.2.0.0/post-migrate.py
new file mode 100644
index 00000000000..a3acf0edb64
--- /dev/null
+++ b/account_payment_mode/migrations/16.0.2.0.0/post-migrate.py
@@ -0,0 +1,16 @@
+# License AGPL-3.0 or later (http://www.gnu.org/licenses/agpl).
+
+import logging
+
+from openupgradelib import openupgrade
+
+_logger = logging.getLogger(__name__)
+
+
+@openupgrade.migrate()
+def migrate(env, version):
+    """Migrate note field from Text to Html"""
+
+    openupgrade.convert_field_to_html(
+        env.cr, "account_payment_mode", "note", "note", False, True
+    )
diff --git a/account_payment_mode/models/account_payment_mode.py b/account_payment_mode/models/account_payment_mode.py
index 5fed3d83438..62ac540e145 100644
--- a/account_payment_mode/models/account_payment_mode.py
+++ b/account_payment_mode/models/account_payment_mode.py
@@ -67,7 +67,7 @@ class AccountPaymentMode(models.Model):
         related="payment_method_id.code", readonly=True, store=True
     )
     active = fields.Boolean(default=True)
-    note = fields.Text(translate=True)
+    note = fields.Html(translate=True)
     sequence = fields.Integer(default=10)
 
     @api.onchange("company_id")