Paystand Blog

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

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The Future of Payments is Here With the Paystand Bank Network

Jan 26, 2023 by Zazil Martinez

A significant indicator of business success is customer satisfaction. Companies can achieve it by listening and attending to their needs. One of these needs is offering different payment methods.

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Optimize Your Revenue with a Zero-Fee Payment Strategy

Jan 25, 2023 by Kelsey Banerjee

Credit card processing fees and other transaction costs cut deep into business revenue—in 2021 alone, U.S. merchants paid $137.83 billion in fees. And that’s just for accepting credit card payments.

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Myths & Facts About Credit Cards

Jan 24, 2023 by Sage Thee

For better or worse, we’ve accepted credit cards as a business necessity. But how much do we really know about them and their complicated processes and fees? Are there better options out there for B2B payments than credit cards?

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Wire Transfer vs. Direct Deposit — the Pros and Cons of Each

Jan 19, 2023 by Zazil Martinez

A substantial advantage of online business is offering our customers many payment methods. But, despite such varied offers, two forms prevail: bank transfer and direct deposit.

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Looking Ahead at Real-Time Payments in 2023

Jan 17, 2023 by Kelsey Banerjee

According to a recent survey, 9 out 10 business leaders are interested in pursuing real-time payments (RTP), and it’s not so they can be paid faster. Other key reasons include:

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Everything You Need to Know About Convenience Fees (and How to Avoid Them)

Dec 8, 2022 by Zazil Martinez

We are at a time when money is digital. Cash payments are considered obsolete, and paying by credit card is the new normal. Yet, many businesses make an extra charge for this payment method.

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Improve Your Collections With Recurring Payments

Nov 17, 2022 by Zazil Martinez

Managing customer collections is not always easy, and there is often no protocol for consistent control in this aspect. One of the main problems of not having a clear collection strategy in the company is late payments. Around 20% of customers are late in their payments or do not pay their debt, significantly reducing the company's gross income.

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The Guide to Payment Terms (and How to Optimize Them)

Nov 11, 2022 by Kelsey Banerjee

Payment terms define when you get paid—at least regarding accounts receivable (AR). For accounts payable, payment terms usually refer to paying vendors and suppliers.

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Higher Conversion Rates with Online Payment Optimization

Nov 10, 2022 by Zazil Martinez

Delivering the right payment experience to customers is crucial. A huge transformation has already occurred, but the pace is constantly accelerating. New payment methods are appearing, and security standards and consumer demands are increasing.

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What is a Short Payment?

Nov 3, 2022 by Kelsey Banerjee

A short payment is a partial invoice payment, and it can be caused for various reasons. Most commonly, a short pay occurs when a customer is stalling or if they are dissatisfied with the goods or services performed. For the AR team, handling a partial payment can often be challenging. You can't close an invoice because the total hasn't been paid. At the same time, your team will need to continue to follow up with the customer to collect.

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Merchant Account vs. Payment Gateway

Oct 26, 2022 by Kelsey Banerjee

Over the past decade, payment processing has changed, often for the better. And as online payments become the norm, the payment process becomes more complicated. For finance teams looking to build out their payment strategy, it's about more than payment options. It's joining hands with the right merchant service providers.

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What is a Payment Facilitator?

Sep 15, 2022 by Sage Thee

When it comes to payment processing today, it’s essential for online businesses to be able to offer their customers digital payment options. For many businesses, that includes the ability to integrate credit and debit cards into the payment process.

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Everything You Need to Know About Payment Gateways and How They Work

Sep 15, 2022 by Izzy Howell

The payment processing system has many unique components that are all essential to ensuring that you, the merchant, are able to receive funds securely and efficiently from your customers.

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