Disclosure certainty 4/5 debate potential 2/5

Almond: Paystand operates proprietary payment network built on blockchain

Jeremy Almond · 1352 B2B Version of Venmo About to Pass $5m in ARR · Apr 7, 2019 · at 4:03

Jeremy Almond, CEO of Paystand, contrasts his platform with Bill.com by explaining that Paystand owns an underlying blockchain-based payment network.

0:00 / 0:07exact quote · 7.4s
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“We actually own our own payment network. We use something called the blockchain which is sort of a really new way to think about financial services in general.”

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More from Jeremy Almond

Insight
Almond: Accounts payable automation is a vitamin, receivable speed is critical
“Most of the B to B payment industry actually charges for the other side, which is the payable side. We think that that's actually less important. Our sort of point of view is that's a vitamin problem. Meaning you know, it's nice for your AP to not write a pape…”
Jeremy Almond Apr 7, 2019 ▶ 9:15 1352 B2B Version of Venmo About to Pass $5m in ARR
Assertion Supported
Almond: $18T in US commercial payments are still done in paper checks
“There's 18 trillion dollars in commercial payments in the US alone still done in paper checks”
Jeremy Almond Apr 7, 2019 ▶ 8:04 1352 B2B Version of Venmo About to Pass $5m in ARR
Prediction Not checkable as stated
Almond: Financial ecosystem will eventually shift to pure blockchain
“Not everything is like this pure blockchain world yet. We think that's eventually where it goes.”
Jeremy Almond Apr 7, 2019 ▶ 12:23 1352 B2B Version of Venmo About to Pass $5m in ARR
Assertion Not checkable as stated
Almond: Most money movement infrastructure uses technology built in the 1970s
“Most of the money movement itself is, is basically using technology before the internet. Most of the technology is sort of built in the seventies.”
Jeremy Almond Apr 7, 2019 ▶ 3:54 1352 B2B Version of Venmo About to Pass $5m in ARR
Disclosure
Almond: Paystand enables businesses to move money digitally without fees
“What we do is help them move their money automatically, digitally, and without fees.”
Jeremy Almond Apr 7, 2019 ▶ 5:33 1352 B2B Version of Venmo About to Pass $5m in ARR
Disclosure
Almond: Paystand uses flat SaaS pricing instead of transaction fees
“We're trying to move the industry from a transactional model, sort of this blockbuster, go in and rent something to a fixed cost SAS model. And so we charge a monthly subscription amount for a customer and it's sort of all you can eat.”
Jeremy Almond Apr 7, 2019 ▶ 6:44 1352 B2B Version of Venmo About to Pass $5m in ARR
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