02 Apr 2014 / Tech Crunch – PayStand, an online payment as a service vendor, has launched from its private beta selling its payment processing services for bitcoin, e-checks, and credit cards to websites in the U.S.
The Santa Cruz, Calif.-based company said that its payment service can work with any website or mobile application and can be set up in under five minutes.
As part of its launch from beta, the company also said it had raised $1 million in seed financing from investors, including Cervin Ventures, Serra Ventures, Central Coast Angels, and TiE LaunchPad.
“Essentially it solves some of the card network problems,” said Jeremy Almond, PayStand’s chief executive. “We don’t think the card networks go away… [but] not all transactions need to go through the card networks. This gives merchants an easy way to take credit card processing and create a cash like system which also takes digital currencies.”…. Read more
