PayStand Extends Payments-as-a-Service Platform into Canada
PayStand has announced that it has expanded its digital platform into Canada to support domestic B2B commercial payments and deepen its global payments infrastructure. Canadian B2B payments over EFT account for greater than one third of all payments volume domestically, with card payments making up a large majority of the remainder. Those payments – whether made via bank-to-bank transfer, wire or check – are almost entirely manual, and often over-burdened by high transactions fees and processing costs. With the launch of PayStand’s digital payments platform, Canadian businesses now have an option to modernise their invoicing and payments process by using cloud-based technology that speeds up time-to-cash, automates manual processes and eliminates transactions fees.
PayStand’s expansion into Canada represents the next step in the company’s acceleration, further expanding its global payments infrastructure. By digitising the commercial infrastructure required to support Canadian B2B payments, PayStand is a cloud-based solution provider to offer native support for both US and Canadian payments. Existing and new customers can now use Paystand’s PaaS technology to process domestic and cross-border payments.