PayStand leverages a core feature of the blockchain called immutability. When an electronic record is written on the blockchain, it can never be changed. Traditional record systems are set up to to govern how a record is altered, but that practice is only as good as the human controls that enforce it. Because the blockchain is designed to only add new records, our certified payment requests and receipts result in a electronically notarized record trail that is secure, certified, and fully audit-able.
Permanently proof and verify critical payments have occurred
Sending email or paper receipts alone does not provide a durable enough long-term record for enterprise level customers. Blockchain receipts are anchored on a permanent & unchangeable ledger.
Successful payments will imprint an instant digital timestamp on the blockchain. It’s like an electronic notary without the middleman.
If a fraudulent customer sends you a fake or modified receipt, the electronic certificate will immediately fail verification with the cryptographic (SHA256) hash on the public blockchain.
Eliminate single points of failure. Have peace of mind that your payment information is verifiable even without the need for 3rd parties.
Every PayStand customer gets a beautiful admin dashboard with powerful visibilty to view blockchain verified transactions
When certified payments are enabled, the admin dashboard shows a verified certificate for each transaction to confirm the payment occurred and has had a cryptographic hash automatically stored on the blockchain. At any time you can verify the information hasn’t changed since its inception by clicking on the certificate to see that the records sent to both parties match with the permanent & immutable hash stored on the blockchain. To maintain privacy, no information is directly stored on the blockchain, only the auditable proof. This blockchain verified proof ensures the history, amount, and additional payment information has not been tampered with.
Track and proof your requests for payment have been digitally recorded
Create accountability and assurance that you have a permanent record for when you request payment for your invoices and billings. Improve your reconciliation process with electronic certification.
Programmatically schedule and execute payments tied to your contracts & invoices. Tie Net terms to payment settlement. Vastly speed up and improve your manual processes with digital equivalents.