Paystand and Sage Partner to enable cashless feeless B2B payments

By Pavithra R

Paystand, rebooting commercial finance and building the open infrastructure for B2B Payments has announced its partnership with Sage, the market leader in cloud business management solutions.

The collaboration enables a “Venmo for businesses” through Paystand’s B2B payment network, which is now integrated with the Sage Intacct cloud financial management system and is available via the Sage Intacct Marketplace. Sage Intacct customers will 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.

“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,” said Jeremy Almond, CEO of Paystand.

Paystand’s technology, delivered as a native integration to Sage Intacct, lets customers:

• create smart invoices with embedded payment options and a branded, next-gen payment experience
• streamline cash flow management with an automatic reconciliation of daily bank transfer data
• save time through automated cash application and the ability to easily reconcile deposits, refunds, disputes, fees, and adjustments.

“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,” said Melody Williams, VP of Sales Strategy and Operations at Sage.

The alliance with Sage further expands Paystand’s vision for cashless B2B payments by providing all businesses within the Sage Intacct ecosystem with a way to put their receivables and revenue on autopilot.

Founded in 2013, Paystand is on a mission to create a more open financial system, starting with B2B payments. It leverages blockchain and cloud technology in its Payments-as-a-Service to digitize and automate the entire cash lifecycle.