Introducing Paysail, the future of business payments
Invoicing is how companies pay for pretty much everything that isn’t payroll, yet the flurry of solutions aimed at improving the experience are built on our limited traditional financial system. Even with incredible SaaS innovation, existing solutions are inherently fragmented, inefficient, and expensive. Most offerings have reached a limit of how fast and affordable their products can be because they rely on bank transfers and credit card payment methods, which are slow and expensive.
Our increasingly global economy, where cross-border payments top $130 trillion, adds yet another layer of complexity. With over 180 global currencies and numerous international payment rails, most businesses are forced to rely on multiple payment tools.
Enter: Paysail.
Paysail is a global enterprise payments platform that leverages the underlying utility of stablecoins. As is in the name, stablecoins are cryptocurrencies designed to have a stable price because they are pegged to a commodity or currency. We have the opportunity to technologically leapfrog and disintermediate prevailing banking infrastructure. By disintermediating business payments, Paysail offers:
- Virtually instant transactions: Most international payments take 2–5 days to process. Paysail leverages frontier payment rails to send and receive payments in under five seconds, irrespective of the time of day, origin, or destination. No longer will unnecessary delays slow down business or disrupt cash flow.
- Streamlined workflows: Businesses can invoice and transact directly with one another and soon bridge local currencies all on the Paysail platform saving finance teams’ time and increasing operational efficiency.
- Cost-effective payments: Legacy payment rails force businesses to pay expensive transaction fees and foreign exchange fees for local settlement. Paysail dramatically reduces costs by removing third-party intermediaries.
As we work toward general availability, we have raised $4M in seed funding led by Uncork Capital, with support from Tribe Capital, Pear VC, and Mischief Capital. We also have incredible support from our angel investors, which include Nik Milanović (Google Pay) and Juan Manuel Fernández Lobato (Ebury).
“Paysail helps companies utilize the long-promised potential of cryptocurrencies, and move money an order of magnitude faster, cheaper, and more secure. Paysail is going to capture a massive market opportunity by unlocking an entirely new segment of business payment technology,” said Tripp Jones, Partner, Uncork Capital.
This is just the beginning for us. With our funding, we will build integrations to other accounting and expense software, expand to new businesses that are less familiar with cryptocurrency, and hire world-class product and engineering talent.
Excited about the problem we’re solving, and interested in joining us? Check out our job openings: https://jobs.ashbyhq.com/Paysail
If you’re interested in learning more, reach out at info@paysail.us.
