The combined platform aims to rationalize processes across employees, vendors, and customers to drive profitability for CFOs.
Paystand previously formed alliances with NetSuite, Sage, and Microsoft Dynamics.
Paystand, a blockchain-enabled B2B payments service
provider, has announced its acquisition of Teampay, a spend management software
company. This move aims to consolidate their positions in the market and
their goal of transforming payments by expanding their B2B payments
network.
Establishing a DeFi Network and Advancing in Payments
The acquisition aligns with Paystand's idea of establishing
an industry-wide decentralized finance (DeFi) network, aimed at connecting
buyers and suppliers at scale, a concept once considered improbable. The recent
development, in conjunction with strategic alliances with NetSuite, Sage, and
Microsoft Dynamics 365 Business Central, along with the previous acquisition of
Yaydoo in 2022, reflects a sustained period of innovation within the payment
sector.
“In a quiet fintech climate, this acquisition arrives with a
bang,” said Jeremy Almond, the CEO, Paystand. “This brings zero-fee blockchain
payment technology further into the heart of the traditional finance technology
stack. Paystand can leverage its blockchain infrastructure to enhance Teampay’s
impressive expense and AP management capabilities. The results will be
game-changing – a truly next-gen, smart B2B payment network at scale that
transforms the office of the CFO and brings radically better economics to
businesses.”
The combined platform of Paystand and Teampay aims to
empower Chief Financial Officers to drive profitability by streamlining
processes across employees, vendors, and customers. Paystand brings its
blockchain-based smart payments platform, facilitating faster time-to-cash,
reduced Days Sales Outstanding, automated Accounts Receivable, and
elimination of transaction fees.
Teampay's Role in Enhancing Profitability within Merged
Entity
On the other hand, Teampay contributes its expertise in
automating Accounts Payable and corporate expense controls, addressing
inefficiencies in the system. Together, the merged entity promises direct
contributions to profitability through accelerated revenue generation and
enhanced cost savings.
Paystand's existing network of over 800,000 companies, with
$10 billion in transactions, will be bolstered by Teampay's network of 250,000
companies, resulting in a formidable B2B payment network comprising more than 1
million business participants. The financial details of the acquisition remain
undisclosed.
Paystand, a blockchain-enabled B2B payments service
provider, has announced its acquisition of Teampay, a spend management software
company. This move aims to consolidate their positions in the market and
their goal of transforming payments by expanding their B2B payments
network.
Establishing a DeFi Network and Advancing in Payments
The acquisition aligns with Paystand's idea of establishing
an industry-wide decentralized finance (DeFi) network, aimed at connecting
buyers and suppliers at scale, a concept once considered improbable. The recent
development, in conjunction with strategic alliances with NetSuite, Sage, and
Microsoft Dynamics 365 Business Central, along with the previous acquisition of
Yaydoo in 2022, reflects a sustained period of innovation within the payment
sector.
“In a quiet fintech climate, this acquisition arrives with a
bang,” said Jeremy Almond, the CEO, Paystand. “This brings zero-fee blockchain
payment technology further into the heart of the traditional finance technology
stack. Paystand can leverage its blockchain infrastructure to enhance Teampay’s
impressive expense and AP management capabilities. The results will be
game-changing – a truly next-gen, smart B2B payment network at scale that
transforms the office of the CFO and brings radically better economics to
businesses.”
The combined platform of Paystand and Teampay aims to
empower Chief Financial Officers to drive profitability by streamlining
processes across employees, vendors, and customers. Paystand brings its
blockchain-based smart payments platform, facilitating faster time-to-cash,
reduced Days Sales Outstanding, automated Accounts Receivable, and
elimination of transaction fees.
Teampay's Role in Enhancing Profitability within Merged
Entity
On the other hand, Teampay contributes its expertise in
automating Accounts Payable and corporate expense controls, addressing
inefficiencies in the system. Together, the merged entity promises direct
contributions to profitability through accelerated revenue generation and
enhanced cost savings.
Paystand's existing network of over 800,000 companies, with
$10 billion in transactions, will be bolstered by Teampay's network of 250,000
companies, resulting in a formidable B2B payment network comprising more than 1
million business participants. The financial details of the acquisition remain
undisclosed.
dLocal Expands Partnership with Deel to 12 New Countries
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa