Jeremy Almond: We have another product where most of the time when a payment that needs to be authorized goes beyond a certain amount, there are controls in place. Maybe your accounts payable clerk can pay bills under $10,000. For over $10,000, it needs to go to the controller. Over $50,000, it needs to go
Sramana Mitra: My question also is, what is the value proposition versus direct deposit? Jeremy Almond: In the US, you have effectively three ways to get paid if you’re a business. All three of these are systems that were built before the internet. The first way is paper check. As consumers, we don’t use them
The B2B digital payment space is changing. Listen to Jeremy discuss the developments. Sramana Mitra: Let’s start by introducing our audience to yourself as well as PayStand. Jeremy Almond: I’m the Founder and CEO of a company called PayStand. PayStand is a B2B digital payment network. What Venmo does for consumers, we do for commercial