Paystand employs blockchain in dynamic discounting

Paystand, one of the leaders in blockchain-enabled B2B payments, on Monday launched the world’s first dynamic discounting application designed for seller accounts receivable (AR) teams and powered by Ethereum smart contracts, according to the company’s communique. Paystand claims that this is the first solution to enable seller AR teams to offer buyer accounts payable (AP) teams dynamic early payment discounts. As such more than 400,000 buyer AP teams who are currently using the Paystand payments network can now start reaping the benefits of early pay discounts and faster payment, using blockchain-powered smart contracts technology.

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