Paystand has announced its zero-fee B2B network is expanding to Canada. While Paystand first introduced a limited service in Canada in 2018, Canadian payers will now be able to access all the benefits of the Paystand Platform and the Zero-Fee B2B Payment network.
A recent report highlighted that in the face of heightened credit risks and a sharp rise in bad debt, Canadian businesses in the past two years are opting for cash-based B2B transactions rather than credit, to mitigate the risks of payment delays or non-payment. In this context CFOs are primed for a less expensive and safer alternative payment solution.
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Paystand’s network supports the full suite of legacy payment options like credit cards and EFT, however Paystand customers benefit from a zero-fee B2B Payment Network as an option that is fully automated, integrated with their ERPs, and profit-friendly.
US companies doing business in Canada as well as Canadian businesses will have the benefits of Paystand’s zero-fee network
Jeremy Almond, CEO and co-founder, Paystand, said: “Almost 40% of Canadian businesses use real-time, EFT payments to transact business. That is where Paystand can immediately innovate, providing a zero-fee network for their businesses, and modernising the payments technology globally. Canadian businesses will gain the full Paystand experience with zero fees, fast transactions and no middlemen. Paystand continues to revolutionise payments, offering the largest, fastest and cost-efficient B2B payments network.
“Expanding into Canada is a major step for Paystand. While we made some inroads a few years ago, our business today is far bigger and we are offering our Canadian businesses a fast way to eliminate cumbersome, slow and costly payments processing. It’s definitely time to bring Canadian companies a next-gen, smart B2B payment network at scale. We are excited to work with Canadian businesses and deliver them the groundbreaking benefits of our B2B network.”
Paystand’s payments solution offers a unified payment solution, consolidating payments under one roof and payments efficiency in North America, which streamlines payments for businesses in Canada, reducing the need for multiple payment processors
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