Paystand Blog

Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.

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5 Financial Resolutions to Kickstart the New Year

Dec 6, 2023 by Zazil Martinez

Discover the essentials to thrive in the new year. From streamlining expenses to embracing digital payments, we provide actionable steps for success. Join us in securing a resilient financial future.

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Learning from Silicon Valley Bank's 2023 Mistakes

Nov 30, 2023 by Zazil Martinez

In the fast-paced world of finance, Silicon Valley Bank's collapse in 2023 sent shockwaves through the industry. In this retrospective, we will examine what caused the downfall, how it affected things, and what we can learn.

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7 Expert Invoicing Tips That Can Help You Get Paid Faster

Nov 28, 2023 by Zazil Martinez

Gear up for year-end by accelerating your invoice payments. Go digital with electronic invoices, automate collections, and offer early payment perks. Save time and improve cash flow with these expert tips.

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Debit | B2B Finance Glossary

Oct 20, 2023 by Zazil Martinez

What is Debit? A debit is another word for an expense or money paid from an account that increases an asset or decreases a liability or owner’s equity. Debits are the opposite of credits. On a balance sheet, negative balances are credited, while positive values for expenses and assets are debited.

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Surcharges | B2B Finance Glossary

Oct 20, 2023 by Zazil Martinez

What Are Surcharges? A surcharge is an additional fee, charge, or tax that is added to the cost of a good or service. Surcharges are typically not quoted in the original price of the sold item and are usually added during checkout. The exact amount of every surcharge varies. It can either be a fixed amount or a percentage of the total amount of the purchase itself. Surcharges are only added to the retail price of the purchase, so it is not taxable. This charge will always appear as a separate line item on your receipt. The calculated surcharge fee will appear in the contract or sales and purchase agreement (SPA).

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Disputes | B2B Finance Glossary

Oct 20, 2023 by Zazil Martinez

What Is a Dispute? A dispute results from a cardholder contacting his or her issuing bank and asking for a refund for a purchase. Disputes are features of the Visa, Mastercard, and American Express card networks, and they help ensure cardholders can be better protected from fraud.

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Basis Points | B2B Finance Glossary

Oct 20, 2023 by Zazil Martinez

What Are Basis Points? Basis points – also known as BPS or “bips” – are a way to measure specific aspects of finance. One basis point is one hundredth (1/100th) of one percentage point, or 0.01%. This means that a change of 100 basis points equals a change of 1%. In decimal form, one basis point appears as 0.0001. A fractional basis point such as 1.5 basis points is equivalent to 0.015%. In decimal form, a fractional basis point is 0.00015. Basis points make it possible to identify the percentage change in the value of financial instruments or the rate change in an index or other benchmark. Typically, they refer to changes in bond yields and interest rates, but they also may refer to the percentage change in the value of an asset such as a stock. In the bond market, a basis point refers to the yield a bond pays the investor.

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Business Identification Code (BIC) | B2B Finance Glossary

Oct 20, 2023 by Zazil Martinez

What Is a Business Identification Code (BIC)? BIC stands for Business Identification Code, but it was previously known as a Bank Identification Code or Bank Identifier Code. A BIC is a unique code assigned to every bank and financial institution; it consists of 8 or 11 alphanumeric characters. BIC is the International ISO standard ISO 9362. This standard specifies the elements and structure of a universal identifier code, the BIC, for financial and non-financial institutions for which such an international identifier is required to facilitate automated information processing.

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Paystand Announces Gold Level Sponsorship of SuiteWorld 2023

Oct 16, 2023 by Erika Hernandez

B2B commercial blockchain payments provider to sponsor NetSuite’s annual user conference.

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What You Need to Know About Payment Verification

Oct 11, 2023 by Zazil Martinez

Payment verification is crucial for preventing fraud and reducing errors. It offers increased security, reduced chargebacks, and improved customer trust. A payment processor that offers robust verification tools is critical for ensuring the safety of transactions and the trust of customers.

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Bank Identification Number (BIN) | B2B Finance Glossary

Oct 10, 2023 by Zazil Martinez

What is a Bank Identification Number (BIN)? A Bank Identification Number (BIN) is a payment card's first four to six numbers. The first digit of this series works as the primary industry identifier, and the remaining digits signify the financial institution that issued the card. All Visa cards, for example, start with a four since this number identifies the banking and financial category. These numbers make it easy to trace cards and transactions back to the card issuer, and they can be found on credit cards, debit cards, charge cards, prepaid cards, and gift cards. Additionally, BINs are sometimes referred to as Issuer Identification Numbers (IINs) because cards can be issued by institutions other than banks.

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Good Funds | B2B Finance Glossary

Oct 10, 2023 by Zazil Martinez

What Are Good Funds? Good funds – also known as available funds – refer to those in a company’s treasury and are guaranteed to be available on demand. The best way to think of good funds is to think of them like cash: they are a tool for exchange that are valid, available, and usable – in other words, good funds represent the total amount of capital that can be withdrawn at an ATM or used to write a check, make purchases with a debit card, pay bills, and make transfers. Additionally, good funds differ from checks in that they do not need to be cleared by the check writer’s bank before the funds are transferred. It’s important to note that good funds might differ from the company’s current balance because this generally includes pending payments.

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Bank Reconciliation | B2B Finance Glossary

Oct 10, 2023 by Zazil Martinez

What is Bank Reconciliation? Bank reconciliation is integral to cash flow management, allowing finance teams to double-check their bookkeeping practices. In this process, businesses can compare the balances and transactions on their external bank statements to the cash balances and transactions recorded in the cash accounts of their general ledger. From here, finance team members can identify discrepancies and align the two cash amounts by adjusting for any transactions that still need to be recorded.

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"Since working with Paystand, we’ve saved almost 20 hours of work a week."

See how Motorola reduced costs by 16%.
SOFIA MITCHELL

Accounting Analyst

"Real-time updates and analytics have made it easier to forecast and budget cash flow."

See how Thumbtack reduced their DSO by 40%
CHAD BELLO

Revenue Accounting Manager

“We found Paystand so easy to use; their embedded payment links in our invoices are simple for customers. Our clients and vendors are no longer confused at the critical moment when they’re ready to pay.”

See how Allterra reduced their costs by 51%
JAMES ALLEN

CEO

"Paystand allows us to free up resources, reduce costs, and expedite payments with real-time posting of transactions. It gives us the ability to grow with confidence that our AR process is equipped to handle the pace of our business."

See how Covetrus decreased 98% in Per-Transaction Fees
KRISTEN PARISIEN

Controller, Global Prescription Management

“The Paystand platform has done exactly what we expected it to do. We’re thrilled that the results aligned with our expectations. We’re operating as a well-oiled machine.”

See how Choozle decreased 50% in late receivables
AJ HEFFERNAN

Director of Finance & Operations

“It’s almost creepy how easy Paystand makes my job. It’s unbelievable how automated it is. It’s been an even better experience than we anticipated. . . We just fully trust Paystand.”

See how Edgewood decreased 60% in transaction fees
JOHN DYBWAD

Vice President of Finance & Budget