Paystand’s Expansion to Canada: Transforming B2B Payments
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Key Takeaways
- Paystand has expanded to Canada, offering businesses an innovative B2B payment platform.
- The expansion introduces Paystand’s Zero-Fee Network, credit card, and enhanced EFT payment options to Canadian businesses.
- This move is part of Paystand’s broader strategy to expand globally by 2025, following their acquisition of Yaydoo.
At Paystand, our mission has always been to create an open, inclusive, and efficient financial ecosystem for businesses worldwide. That’s why we’re beyond thrilled to announce our expansion to the Canadian market, bringing our Zero-Fee Network to businesses across the border. This marks a major step forward, empowering Canadian businesses with a cutting-edge B2B payment platform that offers seamless, real-time solutions.
Paystand’s landing in Canada enables businesses to transform their payment experience using credit cards, checks, and our Zero-Fee Network, with enhanced EFT options taking the spotlight. This takes businesses operating within Canada or across the US border to entirely new levels of efficiency and cost savings.
What Does Paystand Offer to the Canadian Market?
As North America’s trade relationship grows, Paystand improves payment efficiency between the US and Canada.
Paystand’s Key Features in Canada
- Unified payments solution: Our platform unifies multiple payment methods under one system, simplifying the process and dropping the need for multiple payment processors.
- North American efficiency: Businesses operating in the US and Canada will enjoy streamlined payments, reducing multi-currency transactions' complexity and management costs.
- Cost savings: With our Zero-Fee Network, businesses can reduce transaction fees
According to a recent report, 39% of businesses across Canada and the US used EFT to pay their suppliers in 2022, a 3% increase from 2019. Furthermore, 24% of Canadian businesses affirm that payment innovation is critical to their health and growth. Only 32% of B2B payments are still made by credit card, with the vast majority opting for cash to mitigate payment delays or non-payment risks. Paystand offers a timely and effective alternative that fits these evolving needs.
What’s Next for Paystand in Canada?
Our expansion into Canada is part of a broader strategy to become a global leader in the financial revolution. This move follows our successful acquisition of Mexican startup Yaydoo two years ago, further solidifying our presence in North America. But we’re not stopping there. Paystand’s goal is to expand globally in 2025, and we’re excited to lead the way in revolutionizing businesses' financial operations.
“We are offering our Canadian businesses a fast way to eliminate cumbersome, slow, and costly payment processing. It’s definitely time to bring Canadian companies a next-gen, smart B2B payment network at scale.”– Jeremy Almond, CEO of Paystand.
For Canadian businesses, this expansion is an opportunity to partner with a company that’s innovating and reshaping the standards for B2B payments. By reducing transaction costs and delivering real-time capabilities, Paystand enables them to boost their revenue and streamline operations.
For investors, this expansion presents a unique opportunity. Our technology and commitment to disrupting traditional payments have positioned us as a key player in global financial services. Our expansion to Canada and plans to grow further in 2025 signal our long-term vision of becoming the go-to B2B payment network worldwide.
Paystand’s commitment to the Canadian market represents a significant opportunity for businesses to modernize their payment processes and prepare for the future of finance. For more information and details on our official expansion to Canada, check out our press release.