Paystand Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

Paystand Strengths, Domain Expertise, and Key Differentiators

Paystand is revolutionizing B2B payments through a contemporary infrastructure founded on Software as a Service (SaaS) and blockchain technology, facilitating expedited, cost-effective, and highly secure business transactions. The platform eradicates manual processes and eliminates the need for chasing down payments. It enhances payment remittance through the Billing Payment Portal and consolidates payments, facilitating swift and efficient acceptance of all payment forms.

Paystand Recent Developments

In March 2023, Paystand introduced its Smart Treasury Management for Accounts Receivable, enabling businesses to automate the routing of incoming receivables to designated bank accounts. Additionally, Paystand unveiled Instant Bill Pays using AR funds, streamlining the payment process by eliminating the necessity for direct interaction with bank accounts.

In May 2022, Paystand introduced automated billing and payment functionalities tailored for NetSuite AR, to expedite the time-to-cash cycle, eliminate transaction fees, and streamline billing processes. These enhancements enable advanced capabilities such as accepting minimum deposits for quotes and automatic conversion to sales orders upon receipt of payment. Additionally, the platform offers instant cash sales for orders and automatic payment initiation upon shipment, receipt, or fulfillment completion.

In June 2021, Paystand unveiled Smart Lockbox, a cutting-edge digital solution poised to revolutionize traditional lockbox services. This innovative offering empowers businesses with the ability to transition to a fully paperless cash cycle, facilitating seamless transactions from payer to merchant. By incentivizing customers to embrace digitized payment methods, Smart Lockbox effectively eliminates manual processes and reduces operational costs for finance teams.

Paystand Mergers and Acquisitions (M&A) Activities

In August 2022, PayStand completed the acquisition of Yaydoo, a prominent Mexican FinTech specializing in accounts payable solutions. This acquisition was hailed by the company as a significant milestone, representing one of the most substantial technology mergers in Latin America. As a result, the combined entity will have facilitated transactions exceeding $5 billion, expanded its workforce by 300 employees, established a network connecting over 500,000 businesses, and extended its business presence across Mexico, Colombia, Peru, and Chile.

Paystand Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Paystand applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Paystand and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Paystand, Paystand Smart Lockbox, Paystand Spend customers.

Paystand Key Enterprise and Cloud Applications

Paystand, Paystand Smart Lockbox, Paystand Spend

Paystand Revenues, $M:

Paystand Revenue Breakdown By Type, $M:

Paystand Enterprise Applications Revenues By Functional Markets, $M:

Paystand Enterprise Applications Revenues By Verticals, $M:

Paystand Revenues By Region, $M

Paystand Direct vs Indirect sales

Paystand Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Paystand Customers

No. of Paystand Customers: 600000

No. of Paystand Enterprise Applications Customers: x

No. of Paystand Cloud Customers: x

No. of Paystand Cloud Subscribers: x

More than 600,000 businesses leverage the Paystand Network to optimize their payment processes. This network includes eight of the top ten healthcare companies, four of the six largest insurance providers, two of the three largest hospitality brands, two of the three largest beverage distributors, as well as industry leaders in real estate, manufacturing, retail, and energy.

Among Paystand's esteemed clientele are companies such as Eden Equipment, Edgewood Healthcare, Thumbtack, Motorola Solutions, BIIA Insurance, Super7, Covertus, Elenteny Imports, Allterra Solar, Choozle, Cotopaxi and numerous others.

Paystand Market Opportunities, M&A and Geo Expansions

Paystand integrates with leading ERP and order management systems, empowering businesses with extensive payment capabilities seamlessly incorporated into their System of Record. These integrations encompass prominent platforms such as Netsuite, Sage Intacct, Magento, Microsoft Dynamics 365 Business Central, Acumatica, Woocommerce, and Xero.

In July 2021, Paystand secured $50 million in a Series C funding round, with NewView Capital leading the investment, and the participation of SoftBank's SB Opportunity Fund. This new capital injection will enable Paystand to reimagine B2B payments, hastening the evolution towards a more business-centric payment ecosystem. As part of the funding arrangement, Jazmin Medina from NewView Capital will join the board. In August of the same year, Yaydoo successfully raised $20 million in a Series A funding round to simplify B2B collections and payments.

Paystand Risks and Challenges

Paystand relies on strategic partnerships with other businesses, such as ERP providers and consulting firms, to expand its reach and enhance its offerings. However, any disputes, changes in partner strategies, or failures to effectively collaborate could impact Paystand's growth prospects.

Addressing fraud poses a substantial challenge when introducing novel financial solutions, given its dynamic and escalating nature. Fraud manifests in diverse forms, encompassing identity theft, fund misappropriation, and fraudulent authorization. These risks can impinge upon any payment framework, especially in instances where human intervention is prevalent within the process.

Paystand Ecosystem, Partners, Resellers and SI

In March 2024, Paystand forged a strategic partnership with Beyond Cloud Consulting, uniting their respective strengths to deliver heightened value and efficiency to their clientele. Beyond Cloud Consulting specializes in NetSuite implementation, industry-specific workflows, and tailored solutions, aligning seamlessly with Paystand's dedication to financial automation and expedited access to cash. This collaboration aims to revolutionize ERP solutions by offering an integrated approach that transcends conventional consulting practices.

In January 2024, Paystand and Salora ERP, an official NetSuite Alliance Partner, forged a strategic alliance to empower businesses to own their productivity, operate efficiently, and optimize the payment experience.

In December 2023, Databasics, a prominent provider of time-tracking and expense management solutions, unveiled a strategic partnership with Paystand. This collaboration presents comprehensive solutions encompassing time tracking, expense management, and payments, underscored by seamless integration with industry leaders such as Sage, NetSuite, and Microsoft Dynamics Business Central.

Through the acquisition of Yaydoo, Paystand broadened its operational footprint, extending its presence into key markets across Mexico, Colombia, Peru, and Chile.

Paystand stewards a Partner Program crafted to prioritize the needs of the clients and foster dynamic collaboration with numerous partners. The commitment is to cultivate a seamless environment for cooperation, facilitating mutual growth and success.

Paystand Cloud Infrastructure Insights

Subscribe to read more about:

• Paystand Public Cloud and Infrastructure (IaaS)
• Paystand Platform (PaaS)
• Paystand Application Delivery
• Paystand Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: