Paystand Acquires Teampay: Expanding Network to 1M Businesses
In a bold move that signifies a significant leap forward for the B2B payments industry, Paystand, a trailblazer in blockchain-enabled payment solutions, proudly announces its acquisition of Teampay, a leading provider of advanced spend management software. This is the second company Paystand has acquired, the first being Yaydoo in 2022 which made commercial blockchain-based solutions more accessible across Mexico and LATAM. This strategic move not only marks a milestone in Paystand's mission to revolutionize business payments but also signifies the dawn of integrating decentralized finance into traditional financial spaces.
With the union of Paystand and Teampay, the network now encompasses over one million companies, offering a robust testament to the vision of facilitating a seamless, fee-free B2B payment network on a vast scale. This network serves as a beacon of innovation, connecting buyers and suppliers across the United States and beyond, ensuring that businesses, whether directly or indirectly associated, benefit from this expansive ecosystem.
A Strategic Leap Forward
This acquisition is a game-changer for the B2B payments sector. Merging Teampay's spend management prowess with Paystand's blockchain-based smart payments platform creates a formidable force. Together, they offer a comprehensive financial solution that propels CFOs toward achieving profitability through streamlined financial operations, improved cash flows, and a unified, efficient handling of both accounts receivable and payable.
About Paystand
On a mission to create a more open financial system, Paystand leverages blockchain and cloud technologies to reimagine B2B payments. Pioneering the Payments-as-a-Service model, Paystand's platform digitizes and automates the cash lifecycle, enabling businesses to digitize receivables, automate processing, reduce time-to-cash, and eliminate transaction fees. This innovative approach not only enhances efficiency but also paves the way for new revenue streams in a digital economy.