Paystand, a blockchain-based, B2B payments firm, announced on Tuesday it has teamed up with cloud business management solutions provider, Sage, to integrate with the Sage Intacct cloud financial management system with the B2B payment network. According to Paystand, Sage Intacct customers will now be able to create a “self-driving money” experience for their customers and receive payments instantly across Paystand’s zero-fee bank network.
“The Paystand Sage integration also gives Sage Intacct customers a modern Payments-as-a-Service model, which moves them off the legacy banking infrastructure and provides a cloud-based payment platform that unlocks scalability and helps finance teams improve margin and operating cash flow.”
Paystand also revealed the partnership with Sage further expands its vision for cashless B2B payments by providing all businesses within the Sage Intacct ecosystem a way to put their receivables and revenue on autopilot. Jeremy Almond, CEO of Paystand, further stated:
“Blockchain has created the blueprint for decentralized finance, and money is now software. Yet, in 2021, businesses and finance teams are still held back by pre-internet infrastructure and monopolistic banking practices that limit their full potential. Our integration with Sage Intacct gives an entire class of companies access to a new payment network that unlocks growth and puts businesses first – not the card networks.”
Melody Williams, VP of Sales Strategy and Operations at Sage, added:
“Our goal at Sage is to help businesses improve productivity, make effective decisions, and optimize efficiency through automation. Partnering with Paystand is a way to make this goal a reality, and we’re excited to work with an industry pioneer that shares our vision of helping businesses scale faster, drive growth, and increase ROI.”
Founded in 2013, Paystand claims it is on a mission to create a more open financial system, starting with B2B payments. The platform noted that by using blockchain and cloud technology, it has pioneered Payments-as-a-Service to digitize and automate the entire cash lifecycle.