Payments Innovation A Venmo-style App for B2B Payments with Jeremy Almond
Venmo offers people a completely digital, cashless payment network experience. But commercial enterprises, weighed down with invoices and contracts, often still rely on paper checks. What if you could use the blockchain to digitize the process for these companies and help them get their revenue faster, cheaper, and more efficiently like Venmo does for individuals?
Jeremy Almond, CEO of a business-to-business payment network called PayStand, believes you can. A completely digital cashless payment network experience, PayStand works like Venmo only with a contract and an invoice in the process.
We invited Jeremy onto the podcast to talk about PayStand and the future of the blockchain for business-to-business payments.
What we talked about:
- How complicated commercial transactions could be fully digitized on an app
- Working through many different kinds of systems to make digital commercial payments happen
- How to move money through smart contracts without running afoul of U.S. regulations
- Banks are experimenting with blockchain for commercial payments
- Repositioning blockchain from a cryptocurrency delivery mechanism to a safe and automated payment solution
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