Presentment refers to formally submitting a bill, invoice, or payment request to a recipient for review and payment. It is an integral part of the invoicing and billing process, ensuring the recipient knows the amount owed and the transaction details
- Presentment is not the same thing as Settlement
- Presenting an amount in a currency only refers to the currency the payer's instrument will be charged
- Settlement is the currency the payment will be converted to (if necessary) on its way to being deposited ("settled") to the merchant's bank
Paystand allows businesses to communicate payment details directly to the payer’s inbox with an electronic presentment through email. The payer can review the invoice, verify the amount owed, and choose to make the payment by clicking on a Pay Now button.
Example of an invoice presentment with Paystand
Multi-Currency Presentment
After confirming alignment, Paystand can be presented in almost any currency based on your Invoice and Sales Order configuration.
Please see the International page for more details.
Does our technology work in any country or with any currency? This is a complex question with no easy answer, as any bank will tell you there is no such thing as “one provider serves all countries & currencies.” The best thing to do here is to ask which countries they wish to operate from and settle funds to (“Settlement") and if their business entities ever present their customer with the option to pay in a currency not local to the business entity (“Presentment").