As digitization becomes the bedrock of organizations worldwide, businesses are on a quest to seamlessly integrate it into all their operations, internal or external. Yet, as enterprises make the digital leap, the commercial finance landscape still grapples with soaring costs, inefficient systems, and manual processes. As one of the top ten payment solution providers, Paystand is ushering in a new era of seamless, accessible, and intuitive financial transactions.
Paystand is revolutionizing the payment industry with its innovative and advanced solutions that eliminate fees, digitize the cash cycle, and create a self-regulating and immersive money experience for its clients. With its B2B Payments, Paystand allows users to accept B2B payments digitally using a fully flexible and customizable process that grants businesses more control over their business while reducing costs.
This solution opens access to a self-service payment suite for teams and customers, introduces a variety of zero-free options, and securely connects to ERP. It extends robust payment functionality directly into the ERP while keeping payment data safe with unchangeable audit trails.
Its billing and receivables solution sets Paystand ahead of the curve, which streamlines cash cycles with integrated payments and collections. It accepts all digital payments, from direct bank transfers to eCheck, ACH, and credit and debit cards. It automates invoice communications, boosts AR efficiency, and customizes collection plans using payment history to develop smart workflows for faster payments.
Paystand also builds the ideal workflow with open APIs that authenticate users and applications with access tokens. This solution also provides built-in surety that retains data on a permanent virtual ledger with a full audit history, personalized checkout experiences, scheduled and recurring payments, and easy payouts by receiving funds directly from the payers.
Founded in 2013, Paystand has over a decade of experience designing a more open financial system. With blockchain and cloud technology expertise, Paystand has pioneered Payments-as-a-Service to digitize and automate the entire cash lifecycle. Leveraging immutability, Paystand ensures the blockchain only adds new records, allowing certified payment requests and receipts to enter a secure electronically notarized record.
Paystand is committed to empowering its clients by driving ROI through faster time-to-cash, automating repetitive and time-consuming tasks, eliminating transaction fees, and ensuring up to 50% cost savings. Our goal is to offer intuitive financial transactions that enhance the customer experience. — Jeremy Almond, CEO
As one of the leading payment solutions providers, Paystand also replaces manual expense management with its Paystand Spend Card, which delivers 24/7 instant and flexible card provisioning, editing, freezing, and cancellation. It also allows users to set custom expenditure limits and auto-expiration dates on all cards and track transactions in real-time by category.
Another innovative offering by Paystand is Teampay, a solution that equips finance teams with complete control and visibility, automated workflows to receive instant approval and data, and a spending process that is more capable, more efficient, and user-friendly. Teampay allows users to approve purchases using a smart, policy-enforcing workflow procedure that collects approvals before every expenditure and automates daily, routine tasks, such as securing payment methods, reconciling purchases, and creating on-demand reports.
Headquartered in California, Paystand extends its services to financial enterprises worldwide. One of Paystand’s clients, a US-manufactured filtration solution provider that provides clear air, water, and other liquids reliably and sustainably, required a more advanced payment system with a user-friendly and intuitive interface and complete Netsuite integration
With Payment’s assistance, the company transformed its payment processing and user experience by making it automated and more accessible for customers to pay. The solution automatically adds transaction feeds based on customer payments, creating a line item for credit card fees and reconciling directly to the GL. As a result, the client doesn’t have to keep a record of customers’ bank and credit card information to match the invoice fee. Instead, the automated process saves time, reduces manual errors, and utilizes accurate data for cash flow analysis.