PayStand Announces B2B Payments Integration with SuiteCloud, Achieves ‘Built for NetSuite’ Status
April 23 2018 - 7:00AM
Business Wire
- Payments-as-a-Service platform
transforms B2B payments through blockchain, SaaS
- Meets the NetSuite SuiteCloud Platform
Development Standards and Documented Best Practices
- Enables quick funds transfer from
18,000 financial institutions and six major credit cards
brands
SUITEWORLD LAS VEGAS—PayStand, the B2B payment platform
for the future of business, has achieved ‘Built for Netsuite’
status. Announced at SuiteWorld Las Vegas, the new SuiteApp
integrates and automates entire NetSuite-based financial processes
by automating the $550 billion worth of transactions stuck in
pre-internet paper, plastic and manual processes.
“Built for NetSuite is the gold standard for B2B payments
applications,” said Jeremy Almond, CEO and Founder, PayStand. “In
conjunction with the strong, deeply integrated SuiteCloud, PayStand
offers unprecedented ease of payment. A digital transformation
continues in core systems like CRM, accounting and ERP, PayStand is
completing the process by bridging the payments gap in high-volume
commercial transactions.”
An end-to-end digital process, PayStand’s network automates cash
management, from accounting software to reconciliation.
Accounts-receivable customers can now transact via credit card, ACH
or bank transfer through a digital invoice button, with 0%
transaction fees. All payments are automatically reconciled back
into the NetSuite system and banks. PayStand’s blockchain
technology thus simplifies one of business’s most notorious
headaches—sending and collecting money.
All Built for NetSuite apps must be reviewed for compliance with
NetSuite’s standards, which include documented proof of robust
architecture, development, security and privacy. A product
demonstration and/or customer references follow, and only upon
final approval can an application meet NetSuite’s stringent
standards and win SuiteApp designation.
As a SuiteApp, PayStand removes friction from accounts
receivables and payables through:
- Integrated PaymentsCreate a
one-stop-shop where customers can remit digital payments within an
invoice. After invoice clears, a statement is reconciled in
real-time.
- Fund on FileCustomer payment
information is tokenized and stored in PayStand’s encrypted
dashboard, delivering the convenience of charging customers at will
without being required to re-enter the information.
- CustomizationEach invoice that
is sent to customers contains their logo and appears as though it
is coming directly from NetSuite.
- Multiple Payment OptionsOffer
your customers a range of payment options within the invoice.
Options include ACH, eCheck and Credit Card.
- SubscriptionsAvailable through a
flat rate, subscription-based model with the health of your
business’s ROI at the forefront.
- Security & ComplianceThe
complexities involved with payment processing: PCI compliance, AML
Laws, MTL Rules, Fraud Monitoring, Bank KYC Underwriting
requirements, 1099K’s are handled by PayStand.
To learn more about PayStand’s SuiteApp, visit
http://www.paystand.com/netsuite.
About SuiteCloudOracle NetSuite’s SuiteCloud is a
comprehensive offering of cloud-based products, development tools
and services designed to help customers and commercial software
developers take advantage of the significant economic benefits of
cloud computing. Based on NetSuite, the industry's leading provider
of cloud-based financials / ERP software suites, SuiteCloud enables
customers to run their core business operations in the cloud, and
software developers to target new markets quickly with
newly-created mission-critical applications built on top of mature
and proven business processes.
The SuiteCloud Developer Network (SDN) is a comprehensive
developer program for independent software vendors (ISVs) who build
apps for SuiteCloud. All available SuiteApps are listed on
SuiteApp.com, a single-source online marketplace where NetSuite
customers can find applications to meet specific business process
or industry-specific needs. For more information on SuiteCloud and
the SDN program, please visit
http://www.netsuite.com/developers.
About PayStandPayStand’s mission is to use modern
Internet, Blockchain and SaaS technologies to transform B2B
payments. PayStand’s revolutionary “Payments as a Service” model
creates a smart billing & payment network that can digitize
receivables, automate processing, reduce time-to-cash, lower
transaction costs and enable new revenue. Enterprises from
manufacturers and distributors, to software platforms and service
providers use PayStand’s flexible platform to integrate digital
payments into their websites, invoices, ERP billing systems and
mobile applications. PayStand is venture backed and has been
consistently recognized as one of the top innovators in enterprise
financial services. For more information, visit
https://paystand.com.
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TrebleEthan Parker, 512-960-8222paystand@treblepr.com