SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Paystand, the fastest-growing, blockchain-enabled B2B payments platform, today announces Juniper Research has named the company the Platinum winner in the category “Best B2B Payment Platform” in the 2023 Future Digital Awards competition. The award recognizes Paystand’s transformative innovation as enterprises shift from traditional payment rails to decentralized finance on the blockchain.
The Future Digital Awards are given to companies that have made a significant contribution to their sector and are poised to make a considerable market impact in the future. Founded in 2001 and headquartered in London, Juniper Research specializes in figuring out where the future growth is in the digital ecosystem.
Paystand is being recognized for the payments platform it has built over the last decade with the goal of providing a decentralized B2B infrastructure offering instant, seamless transactions without fees. Innovations include:
- Blockchain technology that ensures unparalleled transparency, security, and efficiency in B2B payments
- Paystand’s Bank-to-Bank Network – the only zero fee, real-time payment rail available for business
- Transparent pricing with a Payments-as-a-Service flat rate subscription
- Automation of Accounts Receivable to eliminate days sales outstanding (DSO) and speed time-to-cash
"In an industry grappling with market conditions, Paystand isn't just a solution; it's an economic enabler," said Jeremy Almond, CEO and co-founder, Paystand. "We're not merely defying gravity; we're engineering growth. Building from 1 billion to 6 billion transactions over the last 3 years, Paystand isn't just evolving; it's orchestrating evolution. With this growth and innovation, we are honored to be named the best B2B Payment Platform today by Juniper Research.”
Paystand’s customers come from the ‘real economy’—industries such as manufacturing, logistics, distribution, insurance, solar and renewable energy, and more—all of which are continuing to grow, even in the face of inflation and economic pressures. When these customers process their payments through the blockchain-enabled Paystand Network they get cash faster and with much lower costs.
“Since our founding, Paystand has been a payments innovator,” said Almond. “Last year Paystand processed a full one percent of all U.S. direct account-to-account business payments, which is quite remarkable. We are now moving to reshape the future of finance on a global scale.”
John Dybwad, Vice President of Finance & Budget at Edgewood Healthcare and Paystand customer said; “Our old solution…created a very manual, intensive process. My team would cringe when they saw a payment come through. It’s unbelievable how automated Paystand is. It’s been an even better experience than we anticipated. We fully trust Paystand.”
As the banking industry continues to show strain, Paystand has introduced new products over the last year, including:
- Smart Treasury Management for AR – Where businesses can route receivables automatically as they come in, directing the funds to the bank accounts they deem appropriate, allowing CFOs to diversify AR Deposits and Treasury, sweeping between multiple institutions.
- Instant Bill Pay Using AR Funds – As receivables come in, merchants can immediately direct funds to their Paystand Spend Cards without leaving the Paystand Network. The cards can be used to pay vendors and manage operating expenses without the friction associated with first settling to a bank.
- Dynamic Discounting for AR Teams – Seller AR teams can offer early payment discounts, incentivizing buyers to pay sooner, reducing days sales outstanding (DSO).
To learn more about Paystand, schedule a demo here.
Paystand is on a mission to create an open commercial finance system, starting with a zero-fee network for B2B payments. Paystand is the largest B2B receivables, payables and payments network running on a commercial blockchain. The company makes it possible to digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue. The AR/AP solutions are designed for both U.S. and LATAM businesses of all sizes. For more information about Paystand, visit us at paystand.com. Follow our blog, and connect with us on Twitter and LinkedIn.