PayStand has established flat rates for online payments through electronic checks, saying its new format will allow non-profit organizations and service businesses to avoid credit card fees.
Purchasers logging into a site operated through PayStand can provide their bank username and password and pay by e-check at fixed rates that start at 25 cents, instead of a percentage of the transaction, the Santa Cruz, Calif.-based payment processor and checkout gateway said in a Nov. 20 press release.
The new e-check process helps businesses avoid the more expensive and/or slower options of ACH or wire transfer payments, PayStand CEO Jeremy Almond said in the release.
"Whether its business-to-business or business-to-consumer payments, PayStand is intent on transforming online payments," Almond added.
Last month, PayStand established itself as a gateway accepting traditional and alternative payment methods when opening its application programming interface to support e-checks, credit cards or Bitcoin payments.
The year-old company launched its online payments platform two months ago, and integrated with WooCommerce to enable multiple payment types.