Paystand Blog

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

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9 Types of NetSuite Keyboard Shortcuts You Need to Know

Sep 22, 2023 by Zazil Martinez

Speed up and improve your NetSuite experience by using important keyboard shortcuts. You can use them when searching for data, speeding up data entry, or navigating reports. Make your work faster and easier by using these nine NetSuite keyboard shortcuts.

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Push-to-Card (P2C) Payments | B2B Finance Glossary

Sep 21, 2023 by Zazil Martinez

What is a Push-to-Card (P2C) Payment? A push-to-card (P2C) payment – also known as a push payment, a digital disbursement, or a debit card disbursement – is a type of payment solution that allows a cardholder to send or, in other words, “push” money to another cardholder. This is the opposite of a pull payment, which enables funds to be pulled from one account and sent to another. In a pull payment, the payee is authorized to collect or “pull” money from another account and move it to their account. In this way, payers are not responsible for moving funds themselves, and they allow payees to take money from their accounts automatically – something that contrasts with push-to-card payments.

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Payment Failure | B2B Finance Glossary

Sep 21, 2023 by Zazil Martinez

What is a Payment Failure? A payment failure is when a payment being made from one party to another doesn’t go through. Payments can fail for many different reasons. While many payment failures result in the loss of legitimate business, some payment failures are for a good reason and actually work to minimize the possibility of fraudulent transactions.

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The Role of APIs in B2B Payments

Sep 2, 2023 by Zazil Martinez

B2B payment efficiency is crucial for the financial well-being of companies. Its ability to conduct seamless and secure transactions is fundamental for healthy cash flows. In B2B payments, APIs play an instrumental role in enabling these transactions.

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Issuing Bank | B2B Finance Glossary

Aug 31, 2023 by Zazil Martinez

What is an Issuing Bank? An issuing bank – also called a credit card issuer – is a cardholder's bank. The issuing bank is responsible for paying the merchant’s bank (also called the acquiring bank or the acquirer) when the cardholder initiates a transaction and purchases a product or service from the merchant. The issuing bank issues the credit card or debit card to the consumer. It assumes the primary liability for the consumer’s ability to pay off the debts they will incur with the card. For credit cards, this means extending credit so that consumers can make purchases. In these cases, the issuing bank offers a line of credit to the consumer, and according to the rules created by the card association brand, liabilities for non-payment are shared by both the issuing bank and the acquiring bank. For debit cards, issuing banks are responsible for debiting funds from the consumer’s bank account associated with the card (this is usually a checking account).

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Issuer | B2B Finance Glossary

Aug 31, 2023 by Zazil Martinez

What is an Issuer? An issuer is a legal entity that develops, registers, and sells securities to raise money for future endeavors. Issuers can be investment trusts, corporations, or domestic or foreign governments. The most common types of securities that issuers sell are stocks and bonds. However, issuers sell other types of securities, including derivatives, notes, mutual funds, exchange-traded-fund (ETFs), and debentures. Issuers of bonds are rated by agencies so that potential investors can assess their overall stability and track records. These agencies use a system to determine the financial health of the issuer in question and its ability to make interest payments and repay its loans as they mature.

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Foreign Exchange | B2B Finance Glossary

Aug 31, 2023 by Zazil Martinez

What is Foreign Exchange? Foreign exchange is the process of converting currency from one country into another country's currency. The foreign exchange rate is the specific conversion rate in which this process occurs, which always changes due to supply and demand. For example, if a tourist from one country goes to visit another country, that tourist must exchange his or her native currency for the currency of the country that is being visited. This type of currency exchange contributes to the demand for a specific currency tied to a specific country. Foreign exchange is handled globally among different banks, and all transactions are handled by the Bank for International Settlements (BIS).

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Freeze | B2B Finance Glossary

Aug 31, 2023 by Zazil Martinez

What is a Freeze? A freeze refers to an account freeze. This occurs when a bank or brokerage takes action to bar any transactions occurring in the account that has been frozen. In other words, money can be deposited into the frozen account, but it cannot leave the account; additionally, no bank or cash transfers can be made. This also means that any open transactions are canceled, and checks that have not yet been cashed that were written from the frozen account will no longer be honored. However, it’s important to note that credit transactions will not be restricted if a debit account is frozen.

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Custody | B2B Finance Glossary

Aug 31, 2023 by Zazil Martinez

What is Custody? Custody is a service provided by a financial institution to keep customer assets and securities safe, but custody services also include the settlement and reporting of customers’ securities and funds. This process ultimately reduces the risk for the customer since it mitigates the chance that a customer's assets might be stolen or lost. Securities lending helps customers make additional income on custody assets by allowing approved borrowers to borrow their securities short-term.

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5 Methods You Can Use to Reduce Late Payments

Aug 30, 2023 by Kelsey Banerjee

Maintaining a steady cash flow is essential to running a business, but keeping a steady revenue stream is more challenging than it sounds. According to a PYMNTS report, 93% of companies experience late payments. Payment delays pressure the accounts receivable (AR) team and accounts payable (AP). Delayed payment can mean straining vendor relationships, missing out on an early payment discount, and weak cash flow. In other words, when a company receives late payments consistently, day-to-day operations and overall progress slow down. But you can avoid a potential overdue payment and bad debt in the first place. Healthy cash flow boils down to streamlining your process, starting with your customers. By understanding why your customers are paying late, you can take steps to create an actionable plan to reduce late payments and thrive as a business. Here are 5 easy-to-implement methods to limit late payments from your customers.

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Why does Cash Velocity Matter for Your Software Company?

Aug 29, 2023 by Zazil Martinez

In the ever-changing economy, cash velocity is crucial for businesses to thrive. Software companies, facing shifts in funding and valuation, are now focusing on this more than ever. Learn about cash velocity, why it matters, how to speed up revenue collection and explore tools like digital payments and automated processes that can boost your company's financial health and growth.

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Most Common Excuses AR Staff Hear for Late Payments (and What to Do About It)

Aug 25, 2023 by Zazil Martinez

Explore the most common excuses AR staff encounter for delayed payments, from misplaced invoices to technical glitches. Navigate challenges like payment authorizations and cash flow problems, and learn practical solutions to address each issue effectively.

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Custodian | B2B Finance Glossary

Aug 24, 2023 by Zazil Martinez

What is a Custodian? A custodian is a financial institution that holds assets for customers for safekeeping and to minimize the risk of theft or loss. Custodians can hold funds, stocks, bonds, cryptocurrency, and other digital assets; all of these different types of assets are typically held at one of the custodian’s premises, a sub-custodian facility, or an outside depository. On top of that, custodians can manage customers’ accounts and transactions, handle settlements, and ensure that all financial activity complies with the IRS and regulators. All of these services are provided by custodians for a fee. Bank custodians are regulated by the Office of the Comptroller of the Currency (OCC).

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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