Paystand's zero-fee B2B payment network to expand to Canada

Through its network, Paystand focuses on delivering a full suite of legacy payments, including credit cards and EFT. Yet, the company’s customers can also benefit from a zero-fee B2B payment network as an option that is automated, integrated with their ERPs, and profit-oriented. CFOs, who are currently seeking less expensive and safer alternative payment solutions, are set to be able to drive profitable behaviour among employees, vendors, and customers. In addition, by utilising Paystand’s blockchain-based smart payments platform, finance departments can accelerate time-to-cash, minimise DSO, automate AR, and mitigate transaction fees. Also, CFOs are set to see direct contributions to profitability with total AR costs reduced by an average of 49%, while benefiting from scaled revenue and increased payment savings.

Furthermore, Paystand’s recent acquisitions of Teampay, as well as Yaydoo, allowed the firm to augment how it connects buyers and suppliers. Following its work in Mexico with Yaydoo, where the company focused its efforts on modernising payments for businesses in the region, Paystand’s expansion into Canada enables it to advance its North American growth. According to Paydstand’s officials, by extending its offering into the Canadian market, the company plans to equip businesses in the region with the ability to eliminate slow and costly payment processing and support their development.