Product Feature: Announcing Next-Day Funds Availability

Sep 27, 2022 by Allison Steitz

Paystand's mission is to reimagine financial infrastructure in an effort to drive radically better economics for businesses globally. We carry out this mission through products and services that speed up time to cash, automate complicated billing processes, and eliminate transaction fees.

To speed up time to cash for our merchants, Paystand is thrilled to announce the rollout of our new Next-Day Funds Availability feature for our NetSuite integration, which makes payments made via the Paystand Network available for use in one banking day.

Before this new feature, payments through the Paystand bank network typically took two to six business days for the funds to be transferred to their business bank account and used for day-to-day operational expenses.

That’s good, but we knew it could be faster. We know the importance of quick and simple payment processing, and we know the huge difference it can make when you get access to your funds tomorrow instead of next week.

This new feature will make your payments and transactions more manageable and efficient. The functionality is simple, and here's how it works:

  • A merchant receives payments via the Paystand Network – a blockchain-enabled, zero-fee payment network.
  • The payment becomes available for merchants to use in one banking day.
  • Merchants can instantly transfer available network funds to their Paystand DeFi Card Account.
  • Merchants can use those funds to create prepaid virtual and physical cards to pay their vendors or cover their employees' expenses.

With the new Next Day Fund Availability feature, merchants can access their cash faster, encourage better spending behavior among their teams, and streamline their online vendor payments.

Additionally, some of the benefits that merchants can find with the Paystand DeFi card are:

  • Custom controls on the cards
  • Tracking for all transactions in a central location
  • Earn 1% in bitcoin rewards on every purchase
  • Accepted like any regular Visa card

Having control over the time it takes to access your money quickly, effectively, and securely has never been easier. You're just one step away from this new feature helping your business continue to grow.

Schedule a demo today and see how this can streamline the way you and your customers make payments.