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Amid economic uncertainty, the merger of the two companies represents one of the largest technology unions in Mexico and LATAM.
Both companies offer a range of technology-enabled B2B solutions for automating transaction, payment, and invoice collection processes.
The acquisition was a fitting move and the two companies have created a successful B2B DeFi payment network applicable to businesses on both sides of the continent.
Now, according to an official announcement, they have set their sights on connecting their platforms via a single, open and secure global payment network.
PayStand’s CEO said: Jeremy Almond.
The resulting company will have processed over $5 billion in payments, added 300 employees, and built a network of over 500,000 connected businesses, the largest commercial B2B blockchain in the world. increase.”
Almond sees how an on-chain, DeFi-enabled B2B payment network will have the ability to unlock transformational working capital efficiencies while making financial services more accessible to developing markets such as LATAM. I’m explaining.
How the traditional payments sector is holding back the economy
In the United States, persistent inflation and rising interest rates have made working capital more important and more difficult than ever. As CFOs demand more cash, they are increasingly turning to technology to achieve greater economics in mission-critical cash cycles.
Nearly half of the $18 trillion in commercial payments in the United States are still paper checks, according to the company. Deloitteand most of the rest are still done manually or through pre-internet processes.
Automation using Web3 technology across AR, AP, Expenses, Procurement and Payments on a unified platform will bring significant cash advantages to businesses, with the US B2B payments market growing at a projected CAGR of over 8% over the next five years. help you achieve.
According to the survey results of Goldman saxophonethe global B2B payments market will reach a value of $940 billion in 2021, with AR/AP software accounting for $130 billion of the total market size.
While this number is significant, it currently only accounts for companies already using software or digital AR/AP solutions. Less than 5% of companies are digitally enabled, especially in Latin America. This means that B2B payments opportunities in places like Mexico and other emerging markets offer a much larger greenfield.
Yaydoo and Paystand have enabled the B2B payment network through the AR/AP software landscape. It’s time to unlock a range of opportunities to automate supply chain finance through the import and export of one of the trade corridors.” Sergio AlmaguelCEO of Yaido.
Connecting the U.S. and Mexico is just the first step. , we want to form long-term partnerships with all these organizations that already know their markets, in order to build a network that covers the entire continent. continue to direct
The combined organization is expected to create highly profitable synergies, including access to new markets, product offerings, distribution channels and talent.
In the Americas, the acquisition provides the ability to expand from the United States to Canada and Mexico to Colombia, distributing Paystand and Yaydoo products through existing channels and integrated partners.
Today companies are already globally integrated Oracle NetSuite, sage intact, zero and CONTPAQi Enabling access to the continent’s largest and most sophisticated mid-market opportunities in Mexico.
There is a huge market opportunity ahead of Paystand and Yaydoo. Due to its size, the combined company could be on the road to an initial public offering (IPO) within the next two years, with his IPO capital access to the struggling tech sector in a recession-prone environment. It may be reopened.
