We Are On A Mission
We live in a digital world. However, even today, $550B of US business payments happen using 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.
Why do businesses that are highly efficient not use digital forms of payment? The answer lies in the complexity of payment processing and transaction based cost models of today's payment methods such as credit cards. Businesses do not 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. In addition, to ensure that organizations can get one 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 our modern payment engine that can provide dramatic savings over legacy solutions.
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.
Jeremy has spent the last 15 years in the tech-industry as a serial entrepreneur, startup adviser, and occasional investor. Jeremy has helped dozens of B2B companies drive adoption of digital commerce, and is still an active board member at a number of fintech companies. He started his career in technology as an engineer at nanotech startup Digital Instruments, which was acquired by Veeco (NASDAQ: VECO). At Veeco he led architecture, helping the company shrink massive computers down to devices that now fit in our pockets. He also led their global ERPimplementation (15 years ago) 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.
Mike has been a senior executive at enterprise technology companies for over 30 years. Before PayStand, he was the CIO of Virgin Mobile, building a next generation telco in a highly regulated industry. Mike is no stranger to financial services, previously serving as the EVP for Wells Fargo's Credit and Bank Integration team. He also as served as the Chief Delivery Officer for Nexient, as well as senior executive roles at Sabre, ADT, Northpoint and Sataym. Clearly Mike has a pension for disrupting large traditional industries . Now Mike spends his time leading PayStands customer & operation teams to ensure all of our enterprise partners have been delivered an amazing, secure, and efficient experience at PayStand.
Scott has been a product leader and engineer at several groundbreaking organizations in finance and big tech. He served at Google, refining their Local Search product. He helped simplify financial products at Morgan Stanley. He also helped to build dynamic ad insertion into streaming media (in 1999), served as Developer & Lead Network Engineer for the MTV Product Urge and Lead Engineer at Context Web, one of the leading real-time ad exchange solutions. He holds both a BA in Business Administration and BS in Computer Systems from New York University.
Frank Steegmans, VP of Engineering
Frank is Software Architect and team leader with a track record of delivering reliable and highly scalable applications and systems for both the Web and the enterprise, building strong teams, and using agile methodologies before they were fashionable. Frank has deep experience in financial applications and security as a former Senior Software Architect at Bank of America, and has also built massively scalable SaaS systems at Sugar CRM and others. Originally from Belgium, he enjoys sharing his disdain for American beer with anyone who will listen.
Dan Davis, VP of Sales
Dan came to PayStand with close to 20 years of sales & operations experience, both within large enterprise organizations and high-growth startups. At Wildfire Interactive, Dan joined as the 5th employee and in the next 2.5 years helped scale and lead a sales organization of over 150 employees, before Wildfire was acquired by Google. Before leaving Google for PayStand, Dan spent 6 years leading teams across sales and support, gaining an appreciation and understanding for scale on the order of billions vs. millions. Dan received his BA in Economics from Occidental College.
Mark Fisher, Head of Marketing
Mark is a growth-oriented marketing veteran with deep experience in both finance and technology. He has led and worked on high-performing marketing teams at some of Silicon Valley’s most successful companies. An entrepreneur at heart and a veteran of the performance marketing industry, he has created global brand strategy and marketing programs at Addepar, Nutanix, and QuinStreet. Mark holds an MBA from The Fuqua School of Business at Duke University, as well as Bachelor of Arts degrees in International Studies and French from Duke University. He is a fitness nut, part-time musician, full-time wine and tequila lover, and husband and father.
Where We Are Located
We are located at the Enterprise Innovation Centre in Scotts Valley, CA, just a short drive to Silicon Valley and the epic Northern California coastline. Our team gets to work in a beautiful campus complete with a gym, basketball court and olympic-size swimming pool.