Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.
Why card monopolies are failing B2B businesses
Feb 19, 2021 by Daniella Bourguetts
If the last couple of years have taught us anything is that change is inevitable. On most occasions, it's impossible to predict global pandemics or the financial implications of profound political changes in the worldwide landscape.
#10: The Journey to Zero
Feb 4, 2021 by Daniella Bourguetts
Editor’s note: Hello, readers. Welcome to the first newsletter of 2021. To kick off the year, we're setting the stage for what it means to create a new financial infrastructure for the B2B industry. It's something we call: The Journey to Zero. Subscribe now.
The Journey to Zero: How Paystand is Changing B2B Payments
Feb 3, 2021 by Daniella Bourguetts
Of the myriad problems facing businesses today, one over-arching challenge dominates all else: the B2B financial system remains essentially unchanged since the middle of the 20th century. At its core exists a fee-based transaction model for payments that no longer meets the needs of modern, digital-first businesses.
All Blog Posts
Can Small Businesses Hope to Compete with the “Big Guys” on Credit Card Fees?
Jun 2, 2015 by Jeremy Almond
Innovators choose new payment tech to get around transaction costs To paraphrase Benjamin Franklin, there are three certainties in life for small businesses: death, taxes, and credit card interchange fees. These are the fees charged by the big three credit card issuers (Visa, MasterCard, and American Express) to merchants for accepting their cards. Although the marked-up rates charged by processing services can vary, it is widely accepted that interchange fees represent a hard floor of fixed costs that can’t be changed or negotiated.
Is It Time to “Cut the Card”?
Apr 25, 2015 by Jeremy Almond
What the Internet Did for TV, It Can Do for Payments Recently my family made a momentous decision—we moved into a new house, hooked up our broadband Internet through a local ISP, and didn’t call the cable company to set up service. A few years ago, “cutting the cord” from cable was a bold move by a minority of brave (or just frugal) pioneers in the frontier of digitally streamed content. As any early adopter can attest, it required a lot of patience, limited viewing choices, and often the purchase of a separate device to sit in between your TV and router. Today of course, streamed content looks just as good as cable, the viewing options have exploded, and with an HD antenna, we can even watch network TV for big televised events for free (is anyone old enough remember when TV was free over the airwaves?).
How Payments-as-a-Service Is Changing an Industry
Mar 23, 2015 by Jeremy Almond
What happens when you apply SaaS principles to payment processing? You may not realize it, but you probably depend on multiple SaaS (Software-as-a-Service) products to get through your work day (and at home in the evenings, when you tune into your favorite streaming service). SaaS refers to an Internet-based service for which you pay a monthly subscription fee, and in return receive access to the latest improvements and technical support.
Are You Ready for Bitcoin to Go Mainstream?
Mar 16, 2015 by Jeremy Almond
When we launched PayStand almost one year ago, most of our early customers had never heard of Bitcoin, or if they had, they were skeptical about accepting it in their organizations. Silicon Valley is abuzz with development and investment in Bitcoin-related technology, but as in the early days of the Internet, there is speculation, volatility, and media frenzy surrounding the virtual currency. Several business owners and nonprofits we spoke with have adopted a “wait and see” approach, but like having the option to enable Bitcoin in the future. At PayStand we offer our merchants one payments platform with traditional methods alongside Bitcoin (which we call "eCash"), so they can extend the option to their customers when they're ready.
PayStand offers WordPress users Bitcoin options as the platform backs off from virtual currency
Feb 26, 2015 by Jeremy Almond
This week’s news that WordPress has removed the Bitcoin payment option from their website disappointed advocates of the virtual currency, as the company had been an early adopter and carries a great deal of influence as the most popular blogging and website creation platform.
How Spotify's Pending IPO relates to the Payment Industry
Feb 20, 2014 by Camille Brenkwitz
One of our favorite companies over at PayStand is Spotify. For those of you that haven't used it, it's a music service that offers unlimited music for free or if you want added features, a small monthly subscription. If you walk into the PayStand office during the day, someone's Spotify playlist is usually playing ambiently in the background, and if you come in during the evening, it's pretty much always on, and it's volume level is, well, not-ambient. Since so many of us own Spotify subscriptions, we'll be the first to admit we are fanboys. And since we are fans of Spotify and good success stories in tech in general, it's been great to see all the recent news articles talking out about Spotifys pending IPO. Most of the conjecture is based on a recent job posting of theirs for a role that typically is only needed when companies are going or have gone public. Since Spotify has been growing at a phenomenal rate over the last few years, it's not really a surprise that they are likely going public in the next year or two. With revenue at $571 Million in 2012 (probably closer to a Billion now), and 24 million users, it's clear Spotify has been a run-away success. But as they say, hindsight is 20/20 and Spotify's success certainly wasn't always so likely.
Should You Accept Bitcoin As Payment?
Feb 11, 2014 by Camille Brenkwitz
You probably have heard of Bitcoin before, but you may be reluctant to accept them as a method of payment. The crypto-currency, actually little more than bytes of information traded for goods and services, has a dubious reputation thanks to its early exploitation by criminal elements.
What is Bitcoin? Digital Currency 101
Jun 19, 2013 by Camille Brenkwitz
Bitcoin is a virtual currency recently introduced to the internet community. It uniquely acts as both an open payment network and a form of crypto currency. Bitcoin is rapidly gaining acceptance in the virtual marketplace and shows signs of purchase power in ever more mainstream businesses.