B2B payment platform Paystand has announced its partnership with cloud business management 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.
For the first time, 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 and a branded, next-gen payment experience
- 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 further 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 also speeds up time to cash by 60%, which helps them scale and increase ROI significantly.
“Blockchain has created the blueprint for decentralized finance, and money is now software,” said Jeremy Almond, CEO of Paystand. “Yet, in 2021, businesses and finance teams are still held back by pre-internet infrastructure and monopolistic banking practices that limit their full potential. Our integration with Sage Intacct gives an entire class of companies access to a new payment network that unlocks growth and puts businesses first — not the card networks.”
News item from Paystand