Paystand and Sage partner for integration of B2B payments
The trend of partnerships between commercial payments firms and enterprise resource planning software companies continues.
This week, California based blockchain-based B2B payments company, Paystand has announced a partnership with ERP giant, Sage under which both will create ‘Venmo for businesses’ through Paystand’s B2B payment network which is integrated into Sage Intacct cloud financial management system and available via Sage Intacct Marketplace.
Last week, Sage gained new partners in the form of Repay and Tide which joined Sage separately.
Under this, Sage users would be able to receive payments instantly across Paystand’s zero-fee bank network and the Paystand Sage integration would allow for Sage Intacct which the company claims to be a ‘Payments-as-a-Service model’, which moves them off the legacy banking infrastructure and provides a cloud-based payment platform’.
The press note also emphasized that the partnership with Sage will expand ‘Paystand’s vision for cashless B2B payments by providing all businesses within the Sage Intacct ecosystem a way to put their receivables and revenue on autopilot’.
“Blockchain has created the blueprint for decentralized finance, and money is now software,” said Jeremy Almond, CEO of Paystand. “Yet, in 2021, businesses and finance teams are still held back by pre-internet infrastructure and monopolistic banking practices that limit their full potential”.