Paystand Blog

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

Can Small Businesses Hope to Compete with the “Big Guys” on Credit Card Fees?

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. 

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Jeremy Almond Jeremy Almond on June 2, 2015

Bitcoin, payments-as-a-service, merchant fees, credit cards, mobile POS

Is It Time to “Cut the Card”?

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?).

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Jeremy Almond Jeremy Almond on April 25, 2015

Bitcoin, eCheck, credit cards

How Payments-as-a-Service Is Changing an Industry

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.

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Jeremy Almond Jeremy Almond on March 23, 2015

Bitcoin, ecommerce, Payments, payments-as-a-service, SaaS, eCheck

Are You Ready for Bitcoin to Go Mainstream?

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.

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Jeremy Almond Jeremy Almond on March 16, 2015

Bitcoin, paystand, online payments, ecommerce, Payments, small business

PayStand offers WordPress users Bitcoin options as the platform backs off from virtual currency

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.

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Jeremy Almond Jeremy Almond on February 26, 2015

Bitcoin, tools, online payments, ecommerce, Payments, WooCommerce, Wordpress, website

How Spotify's Pending IPO relates to the Payment Industry

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.

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Camille Brenkwitz Camille Brenkwitz on February 20, 2014

Bitcoin, Payments, p2p, artists, music

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