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Paystand, Sage partner for B2B payments

Thursday 27 May 2021 15:02 CET | News

Blockchain-enabled B2B payments platform Paystand has partnered with cloud business management solutions provider Sage.

The partnership enables a ‘Venmo for businesses’ through Paystand’s B2B payment network, which is now integrated with the Sage Intacct cloud financial management system and is available via the Sage Intacct Marketplace. Sage Intacct customers will be able to create a ‘self-driving money’ experience for their customers and receive payments instantly across Paystand’s zero-fee bank network. The Paystand Sage integration also gives Sage Intacct customers a modern Payments-as-a-Service model, which moves them off the legacy banking infrastructure and provides a cloud-based payment platform that unlocks scalability and helps finance teams improve margin and operating cash flow.

Delivered as a native integration to Sage Intacct, Paystand’s technology lets customers:

  • create smart invoices with embedded payment options 
  • streamline cash flow management with automatic reconciliation of daily bank transfer data
  • save time through automated cash application and the ability to easily reconcile deposits, refunds, disputes, fees, and adjustments.
The partnership with Sage expands Paystand’s vision for cashless B2B payments by providing all businesses within the Sage Intacct ecosystem a way to put their receivables and revenue on autopilot. By enabling more businesses to move off the legacy banking infrastructure, Paystand is accelerating the adoption of a more open finance industry where businesses themselves control the movement of money. Paystand saves businesses 50% or more on the cost of receivables by eliminating transaction fees and speeds up time to cash by 60%, which helps them scale and increase ROI significantly.

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Keywords: partnership, B2B payments, PaaS
Categories: Banking & Fintech | Payments General
Countries: United States
This article is part of category

Banking & Fintech