Paystand’s Proprietary Zero-Cost Payment Rail
The Paystand Bank Network is a zero-fee payment rail that gives you access to real-time fund transfers and automated payment settlement.
The Paystand Bank Network allows you to move money electronically without paying any transaction fees. Paystand covers over 90% of the US banking market and 98% of all commercial accounts, making it the most complete digital payment network available to businesses today.
- Paystand's network enables secure, one-off or recurring bank payments that expedites payment and reduces charge back requests.
- Every in-network payment is recorded on the Assurety blockchain, creating a notarized record trail that is secure, verified, and digitally auditable.
Due to its digital format, this payment rail allows for easier, faster, and more secure transactions than legacy options like debit or credit, helping you get paid more quickly and efficiently.
Paystand's network also offers real-time fund verification and payment tracking, so you can immediately determine if your customer has sufficient funds to pay an invoice. This eliminates chargebacks, processing fees, and manual follow-ups.
Benefits
- No transaction fees, processing costs, or markups
- Auto-pay and recurring billing features
- Instant fund verification
- Proprietary Least-Cost-Routing technology
- Real-time payment tracking
- Blockchain-assured payment history
- Digitally auditable record trails
- Reduced chargebacks
How?
The Paystand Bank Network enables secure, one-off or recurring bank payments that do not require a blanket authorization between trusted parties. Instead, it leverages cryptography and digital signatures to ensure the validity of each transaction.
Because each payment is initiated by the customer, it shows a clear authorization and intent to pay instantly, therefore dramatically reducing the refund and chargeback requests commonly associated with credit card payments.
Additionally, every in-network payment is recorded on the Assurety blockchain, creating a notarized record trail that is secure, verified, and digitally auditable. These records can't be altered, assuring your transactions are valid and free of tampering.
You can find more information at Paystand's blog.