All Paystand Reviews

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Mike

Entertainment, 51 - 200 employees

Used unspecified

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

4

Reviewed November 2023

Great for big business purchases!

Anonymous

501-1,000 employees

Used weekly for less than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

5

EASE OF USE

4

VALUE FOR MONEY

4

CUSTOMER SUPPORT

4

FUNCTIONALITY

5

Reviewed March 2022

Paystand: Finance Redefined

- PayStand is an exceptional tool for B2B payments. - PayStand will be a win-win tool for all the small and medium enterprises and beneficial for the budding startups.

PROS

- PayStand is a reliable solution for all B2B payments. Very easy to use interface and value for money product. - PayStand helps users to eliminate unnecessary transaction/credit card fees. - PayStand comes with great features starting from automating finance processes to integration with ERP very quickly and easily. - Integrate a payments interface into ERP invoicing for ACH, Bank Transfers, and Credit Card - Completely automate reconciliation and cash application against open invoices - Help alleviate DSO and paper check volume - Reduce or eliminate Credit Card/transaction fees

CONS

- PayStand is a feature-loaded medium for B2B payments, and there is nothing to dislike in PayStand. - The features and benefits offered by PayStand make it a reliable and value-for-money product.

Joanne

Building Materials, 51-200 employees

Used daily for less than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

5

EASE OF USE

4

VALUE FOR MONEY

3

CUSTOMER SUPPORT

4

FUNCTIONALITY

4

Reviewed June 2023

Payment links have been vital!

My experience has been good so far. When we started there were several features that we wanted that were unavailable but paystand has since created those options, so I only envision more updates and improved functionality going forward.

PROS

I love the fact that we can send payment links to customers for their general account, individual invoices and individual orders. They've helped us get payment more quickly from slow payers and provided ease of mind to customers who don't like making payments over the phone or sending cc info via email. We've also gotten a ton more ach payments than before which has saved us so much on credit card fees.

CONS

There was quite a few issues implementing paystand on our website. I don't know what it was about our system that just wasn't integrating well, but we found it too hard to keep trying to go back and forth with paystand to figure out what the problem was and how to prevent it from happening.

Reason for choosing Paystand

We looked at a couple other products. I don't remember their names, but they did not allow for our customers to pay multiple invoices at once. But our customers more often than not have several invoices at once and paying one invoice at a time is terribly inefficient and not appealing to our customers.

Reasons for switching to Paystand

To be able to send out payment links and take ach payments more easily

Jennifer

Computer Software, 1,001-5,000 employees

Used daily for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

2

EASE OF USE

1

VALUE FOR MONEY

2

CUSTOMER SUPPORT

2

FUNCTIONALITY

2

Reviewed June 2023

Terrible product and worse support

Worst vendor I have ever worked with. This started with terrible implementation. Something that should have been taken care of within a month or so - and then testing/making fixes for a month or two after - took close to - if not more than - A YEAR. We had to keep scheduling time with our implementation person - something that he should have set up and done with regular weekly meetings. To get our client's info loaded - I had to figure out how to securely do this. Good thing that I work for a software company and had to find internal resources within my own company to get things completed that were required. We have issues that require support each month. I have a lot of clients whose card will not run on your platform since their bank is flagging them as suspicious activity. It has brought issues to Paystand that cannot be "solved" - like something as simple as scheduling a payment to run in the future on a specific day or setting up installments for our clients. We cannot run one payment that needs to be applied to more than one account (and this is a huge issue). We have to keep our old way of running electronic payments due to all the ways that Paystand continues to fail us as a complete solution to our needs. Due to the various reasons that PS fails us - we ran an additional $22M worth of transactions in our old system last year and $6.3M so far this year.

PROS

I am not sure that there is ANYTHING about Paystand that I like.

CONS

After working to implement Paystand for almost a year (due to the lack of response and follow-up on the Paystand side - this should have been a 3 month or so implementation), we continue to have issues with Paystand not having deposits created at times (especially at month end when we need to close our books). The product is hard to use and not user-friendly. Also, we often have clients complain that Paystand is flagged as FRAUD on their bank's side. This results in us needing to contact the client to work with them to get another form of payment on file. This has resulted in many, many more processes that are needed to ensure that our autopayments are running each month compared to the manual way that we handled them in the past. Getting support is challenging as well - I have an "Account Manager" and she is not very responsive or helpful. When working with the rest oft he support team, we have to wait for DAYS for answers, and this is with us following up with Paystand to see if there is a resolve to the issue and that is even with copying Pheobe Price on each of the emails - clearly that means nothing at Paystand. Also, we have issues each month - I should next to NEVER need to contact support - but we have to for the same issues over and over again. If it were up to me, I cancel our contract immediately - all $45M+ worth of transactions per year. Also, our [sensitive content hidden] wants to increase our electronic payments! This just gives Paystand more of a way to fail us.

Jeff

Media Production, 11-50 employees

Used daily for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

Reviewed June 2023

Been With Paystand Early On

Paystand has always been reliable and easy to use. We've been able to setup recurring billing cycles, easily add new payments for a client, charge payment methods when we get confirmation from the client, and more.

PROS

I like that I can have a client put in a payment method and we can charge as needed. It helps us feel more in control and protected from client snubbing payment. I also really like how easy it is for a client to authorize a payment and then we can get working with them.

CONS

To be honest we haven't done a lot with this but it would be fantastic if it could integrate with other standard apps.

Reason for choosing Paystand

The recurring payment, and ACH/echeck features was really important to us.

Anonymous

11-50 employees

Used weekly for less than 2 years

Review Source: GetApp
This review was submitted organically. No incentive was offered

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

Reviewed March 2020

Easy to Use | No Fees | Fully Automated

We had an extremely manual billing and collections processes before switching over to Paystand. We were receiving paper checks via lockbox and processing Credit Card payments at a 2.9% rate. Invoices were manually filled out from a template, emailed to each individual customer at collections time, and then manually reconciled back into NetSuite. Our payment processor was managed in a separate system with a steep learning curve and even steeper transaction rates. When we implemented Paystand the entire invoicing process was centralized into NetSuite and streamlined by around 90%. It freed up a huge amount of time for me to focus on the admissions work that I was hired for, as well as new strategic projects.

PROS

The automation provided saved us a good 70-80 hours a week by automating invoicing processes. The Zero Fee payment rail saved us around 2% of our total annual revenue. Setting up automatic recurring invoices was extremely easy to do. When payments were made they were instantly reconciled into NetSuite and the customer's information was tokenized for later use. We didn't have to worry about PCI compliance, because Paystand handled all of this for us. Paystand's API features are extensive, and there's really a lot of customization available to you.

CONS

There was no Zero Fee option for international payments. Though their Credit Card rates are the best I've seen, so this wasn't too much of an issue.

Reasons for switching to Paystand

Streamlined processes within NetSuite + Zero Fees

Nathan

Construction, 51-200 employees

Used daily for more than 2 years

Review Source: Capterra
This review was submitted organically. No incentive was offered

OVERALL RATING:

1

EASE OF USE

1

VALUE FOR MONEY

1

CUSTOMER SUPPORT

1

FUNCTIONALITY

1

Reviewed February 2024

Poor Support, Zero Accountability

Go literally anywhere else. Of course, if you like working with slow software, poor support, above average costs, and losing money, this is the company to choose.

PROS

We selected Paystand for our customer payments and started using services in 2016 because it allowed our customers to pay via a self-service website and quickly pay online with their invoice information. It allowed recurring and scheduled payments as well as ACH, and the product met all of those needs and wants for us.

CONS

Every user complained how slow the software was, for processing payments, for reporting and customer management. We were unfortunately fraud victims and there were very few basic software and account management security controls in place that should have easily prevented it; 2FA was not existent at the time (was implemented right after this incident). The perpetrator was able to use one of our accounts (all accounts were admin users, no other option at the time) and change the banking information for deposits without review or notification to anyone else. This siphoned deposits for a 2-3 weeks before the bank account was reconciled and resulted in a significant loss to our business. They said, yeah sorry about that. You're right there needs to be more controls. But it is your fault since it was performed by a valid user login and we aren't going to do anything about your loss. Law enforcement also doesn't care about these things until they reach millions BTW... We had favorable pricing for a couple of years then they escalated to above average market costs for payment processing, without any communication from them. Finally, we terminated the account and they didn't pay us the funds for our last deposit and attribute it to a previous error in reporting (there was a several month period where their deposit reports did not work...). I've tried to work with them for 3-4 months and their support is incredibly slow to respond and will not provide the report information I have requested to verify we have received all of the processed funds.

Yolanda

Marketing and Advertising, 51-200 employees

Used daily for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

4

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

4

FUNCTIONALITY

4

Reviewed June 2023

Paystand Pros & Con

Prior to Covid, check was our only form of payment. We immediately pivoted to ACH so that collection of payments could continue while everyone was working remote. Clients wanted more options, especially credit card, and that is where Paystand came in as a solution.

PROS

Implementation was fairly painless and quick. My rep is supportive and attentive. Easy to use to process payments. Immediate response on whether payment is valid or declined.

CONS

I've only had one con: Have had receipt emails stop multiple times and takes days to correct.

Reason for choosing Paystand

Weighed the pros and cons and Paystand had more of what we needed

Tim

Cosmetics, 11-50 employees

Used daily for less than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

4

EASE OF USE

4

VALUE FOR MONEY

3

CUSTOMER SUPPORT

4

FUNCTIONALITY

3

Reviewed June 2023

No More A/R Errors

Overall positive. We've saved a ton of time and have eliminated data entry errors. But Paystand needs to fix the timing of funds delivery and add the ability to accept payments from other systems. These two issues mean we're willing to explore other solutions.

PROS

The accounting integration is reliable and happens automatically. We have been able to reduce our A/R bookkeeping significantly, and we no longer have errors since software is doing the processing.Most other systems cannot accept a deposit on a sales order. We're a custom manufacturer, and this is a crucial and required accounting function in our business.

CONS

What we like least about Paystand is that it cannot accept electronic payments from other systems. Many of our customers use their own ERPs to send ACH payments, and many use Bill.com. They don't want the extra step of going to the Paystand portal to enter data. Since Paystand does not yet have a way to accept payments from other systems, we have to process the incoming payments manually.It also takes too long to get funds after payments are made. This needs to be improved.

Reason for choosing Paystand

Paystand accepts deposits on sales orders. Most others don't. This was the key point that made our decision.

Robert

Chemicals, 11-50 employees

Used daily for less than 12 months

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

Reviewed June 2023

Paystand Review

Wonderful experience - great team to work with through implementation and continue to be great to work with.

PROS

Ease of use and Paystand team willing to listen to our business needs, and then acting on those needs to give us something that works.

CONS

Some things we thought we needed weren't there, but the Paystand team thoroughly explained and different way that got us to the same conclusion, with the same information.

Reason for choosing Paystand

Paystand asked great questions about our business to make sure they could help us and they showed the confidence they could do what they said. in short, they did their homework up front and made us feel comfortable about what they can do for us.

Reasons for switching to Paystand

Needed a true ERP solution for the business

Anonymous

51-200 employees

Used daily for less than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

5

EASE OF USE

4

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

4

Reviewed June 2023

An Easy Partner Choice

PROS

The ability to capture a a percentage of credit card fee's has helped us tackle that obstacle with ease.

CONS

No cons that I can actively think of. Maybe just an improvement on existing integration with NetSuite.

Pat

Security and Investigations, 51-200 employees

Used daily for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

4

EASE OF USE

4

CUSTOMER SUPPORT

4

FUNCTIONALITY

4

Reviewed June 2023

Paystand review

Overall I like Paystand. Other than issues with some refunds, and the time that it takes for an ACH credit, all other functions are very convenient, and run pretty smooth.

PROS

I like the ability to send a link for either one invoice, or the statement. This is a convenient way for the customer to make payment quickly. I also like that Paystand does the transfer on the system, and you can see each individual fee on the customer deposits.

CONS

I have issues with refunding a customer that pays upfront for an advance replacement. Since the credit is not tied to the replacement invoice, I have to create a false RMA in order to refund. I also think that it takes too long to receive ACH funds.

Mark

Business Supplies and Equipment, 51-200 employees

Used weekly for less than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

4

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

4

FUNCTIONALITY

4

Reviewed June 2023

Paystand is a solid platform and seems to be maturing

As it seems with most systems I have implemented the slick demo you see will take some time to reach. What should be "simple" when discussing the implementation with the sales team always has more bumps than expected. Paystand was in a very normal range for this.

PROS

CC processing to automate our collections process was the key reason we decided to work with Paystand. Paystand also offers a lockbox process that attracted us to them over other options. We started with the CC processing tools that allow a customer to pay directly from a web link and then moved into using the Lockbox. Once these were up and running they have worked well and met our needs.

CONS

Implementation was more challenging than expected with both CC processing and Lockbox. Paystand has improved over our relationship so I expect this would be a smoother process today.

Reason for choosing Paystand

We evaluated other AR tools & lockboxes. Paystand was the only option we found compelling that could handle check processing, ACH receipts, & Credit Card. We wanted to limit the number of integrated systems.

Cory

Construction, 201-500 employees

Used daily for less than 12 months

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

3

EASE OF USE

4

VALUE FOR MONEY

3

CUSTOMER SUPPORT

2

FUNCTIONALITY

4

Reviewed June 2023

Does what it promises, but could be more easy to customize.

We like the product overall, but did not like the sales process or implementation.

PROS

We liked that Paystand enabled us to customize the processing fees within our payment portal, and pass them on to the customer.

CONS

We felt customizing things within our ERP (Netsuite) for paystand was more complicated than it needed to be, and Paystand does not provide ANY documentation for the Netsuite integration beyond the original training calls. The implementation time seemed very disinterested in working with us once they had the sale. Features we understood to be included in the product became "customizations" that were out of our scope of work, and that they wanted to charge for. Overall the implementation seemed like a second sales pitch, rather than a good-faith effort to get us up and running with the product.

Reasons for switching to Paystand

Lack of features in other product

Mark

Renewables & Environment, 51-200 employees

Used daily for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

Reviewed June 2023

The wonders of Paystand

Excellent customer service and a tremendous savings over our last credit card processor.

PROS

Customer support is the best of all our software solutions. By capturing the credit card fee it saved us lots of money

CONS

We had some hiccups with how the transactions were hitting our erp. Some of it was our fault and some was the initial setup. Customer service has been great in resolving

Reasons for switching to Paystand

Too expensive

Mitch

Consumer Goods, 51-200 employees

Used daily for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

4

EASE OF USE

5

VALUE FOR MONEY

4

CUSTOMER SUPPORT

5

FUNCTIONALITY

4

Reviewed June 2023

Sr. Director, Technology

PROS

The ability to integrate with NetSuite is great! The pay-by-link for customers and automatic back reconciliation are both great features.

CONS

There is some slowness/delays with the system processing for payments because the integration is running on a map/reduce script.

Reason for choosing Paystand

Cost and functionality.

Reasons for switching to Paystand

Lack of functionality and cost.

Karen

Food & Beverages, 11-50 employees

Used daily for less than 6 months

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

3

EASE OF USE

3

VALUE FOR MONEY

3

CUSTOMER SUPPORT

3

FUNCTIONALITY

3

Reviewed June 2023

Food Connects Inc.

It is too early in the game to base any objective opinion. The integration of our entirely new software has been slow and tedious.

PROS

It is too early in the game to base any objective opinion. We are still getting out emails to customers regarding Paystand. The integration of our entirely new software has been slow and tedious.

CONS

It is too early in the game to base any objective opinion. The integration of our entirely new software has been slow and tedious.

Reasons for switching to Paystand

NetSuite - Our new software program does not work with GoCardless and or Stripe

Ermias

Non-Profit Organization Management, 2-10 employees

Used weekly for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY