Market Overview

PayStand Partners with Commerce.Innovated., Builds Out Blockchain-Based B2B Payments Network

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  • PayStand joins accelerator program run by Silicon Valley Bank and
    First Data designed to help commerce, payments and fintech companies
    scale
  • Partnership with industry leaders and visionaries underlines startup's
    disruptive position in the payments sector, highlights maturity of
    blockchain
  • PayStand brings a new level of transparency and flexibility to
    commercial finance

PayStand,
the blockchain-based, B2B payments company reinventing commercial
finance, today announced that it is partnering with Silicon Valley Bank
and First Data in Class 8 of Commerce.Innovated.,
an accelerator program focused on growth and innovation in finance.

Designed to help commerce, payments and fintech companies grow, this
four-month virtual program provides operational mentorship with a focus
on improving consumer and business experiences to provide better, more
secure transactions.

"We are one step closer to realizing our vision for a more seamless,
open commercial banking system," said Jeremy Almond, CEO and Founder,
PayStand. "As an innovator and disruptor in the commercial payments
space, teaming up with Silicon Valley Bank and First Data empowers us
with access to their respective networks so we can explore additional
growth opportunities. The ability to strategize and collaborate with
these industry visionaries takes our platform to another level of
credibility and visibility."

PayStand's partnership in Commerce.Innovated. with Silicon Valley Bank
and First Data further underscores the practical applications of
blockchain technology and its potential to transform commercial banking.
The commercial banking system has been tied to legacy platforms and
processes for decades. Only recently have financial institutions begun
to adopt modern infrastructure that enable customers and partners to
realize the benefits of technologies like blockchain that are redefining
the banking ecosystem.

The core principles of blockchain and Software-as-a-Service (SaaS) that
underpin PayStand's digital payment network allow it to dramatically
improve every aspect of the commercial payments lifecycle, from accounts
receivable to invoice reconciliation. During the program, PayStand will
explore new product and business opportunities by leveraging the
operational expertise and networks of program mentors, while building
out its industry-leading billing and payments network.

PayStand is challenging outdated processes and legacy infrastructure in
commercial finance by fundamentally re-thinking the enterprise cash
cycle. By automating enterprise payments, PayStand empowers businesses
to transact on a global scale, accelerating access to working capital
and delivering bottom line cost-savings.

To learn more about PayStand, visit https://paystand.com/.

About PayStand

PayStand's mission is to use modern Internet, Blockchain and SaaS
technologies to transform B2B payments. PayStand's revolutionary
"Payments as a Service" model creates a smart billing & payment network
that can digitize receivables, automate processing, reduce time-to-cash,
lower transaction costs and enable new revenue. Enterprises from
manufacturers and distributors, to software platforms and service
providers use PayStand's flexible platform to integrate digital payments
into their websites, invoices, ERP billing systems and mobile
applications. PayStand is venture backed and has been consistently
recognized as one of the top innovators in enterprise financial
services. For more information, visit https://paystand.com.

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