The Silicon Review
“The Innovators of the First Modern Digital Payment.”
We live in a digital world. However, even today, $550B of the US business payments happens using a paper check. While many of the business processes have been automated, B2B payments continue to require manual processing of paper checks with associated challenges of tracking, reconciliation, and manual labor.
Businesses that are highly efficient do not use digital forms of payment because of the complexities of payment processing and transaction-based cost models of today’s payment methods. Businesses don’t want to pay 2-3% of the total invoicing price to credit card companies when transacting with other businesses they trust and transact frequently at high volume and high average cost of each bill.
With the evolution of mobile, cloud, and blockchain technology, the founders of PayStand understood that this decades-old problem can be solved by taking a brand new approach - an approach where businesses are charged for software (SaaS) and not based on transaction volume. PayStand has developed the first modern digital payment system for business to business transactions, enabling enterprises of all sizes to reduce their time to cash, lower cost, and improve their operational efficiency.
PayStand is venture backed by leading investors in Silicon Valley and has been recognized as one of the disruptive forces in business payments by publications such as TechCrunch, Wall Street Journal, Mashable, Forbes, and many others.
The PayStand Technology
PayStand’s mission is to use the modern Internet, Blockchain, and SaaS technologies to transform B2B payments. PayStand’s revolutionary “Payments-as-a-Service” model creates a smart billing & payment network that can digitize receivables, automate processing, reduce time-to-cash; lower transaction costs, and enables new revenue.
To ensure that organizations get the best comprehensive platform for all payment needs, PayStand provides organizations with the ability to use eCheck, ACH, debit cards, credit cards, and even digital currencies. The platform learns from the transaction history and drives transactions from higher cost payment methods to PayStand’s modern payment engine that can provide dramatic savings over legacy solutions.
eCheck: PayStand’s eCheck accept direct bank payments from the client’s customers for a fraction of the fees incurred by credit cards.
eCash / Bitcoin: PayStand offers Bitcoin, the “cash of the Internet,” as a 0% payment method at the checkout. It also accepts Bitcoin on the website or mobile device. With PayStand it is easy to manage Bitcoin payments in the same place as the credit card and check payments.
Mobile payments: PayStand accept payments everywhere one does business, for lower rates than restrictive point-of-sale systems. With PayStand take the business to the next level with the only all-in-one mobile app for credit cards, checks, and Bitcoin.
Credit cards: PayStand accepts credit cards for one low flat rate, online or on a mobile device. It easily embeds a checkout gateway on the website. It also passes credit card interchange fees onto the customer.
The Best-In-Class Solution for Every Industry
With $550 Billion stuck in the pre-Internet paper, plastic, & manual processes, PayStand provides its first-rate Business Payments solution for the Digital Age. Payments solutions by PayStand are the best option to keep up with the Pace of Business.
With its world-class solutions and technology, PayStand serves several industries that include Solar & Energy, Software Platforms, Law Firms, Manufacturing, Construction, Medical Suppliers, Food & Beverage, and Insurance.
PayStand’s business payment is a modern payment platform built for business:
Making Online Payment Easy
We know how frustrating it is to have a problem with a customer payment and not be able to get the payment processor on the phone. The Internet is global; the payment acceptance should be too. With PayStand one receives payments from its customers anywhere in the world. PayStand is ready whenever and wherever one does business.
Meet the CEO
Jeremy Almond CEO and Co-Founder: Jeremy has spent the last 15 years in the tech industry as a serial entrepreneur, startup adviser, and occasional investor. He started his career in technology as an engineer at nanotech startup Digital Instruments, which was acquired by Veeco (NASDAQ: VECO). At Veeco, Jeremy led architecture, helping the company shrink massive computers down to devices that now fit in pockets. He also led their global ERP implementation, where he got his first glimpse into the challenges of enterprise payments. He’s been thinking about how to use technology to innovate in B2B financial services ever since. Jeremy holds a BS in Computer Engineering from the University of California and a Masters in Business from the University of Massachusetts.
“At PayStand, your success means our success, so you can be sure to get a live human on the phone when you need answers”