Case Study: Worldwide Technology Leader eliminates $100K in drummage fees and slashes transaction costs with Paystand

Technology Leader Achieves 99% Reduction in Bank Transfer Fees

Worldwide Technology Leader, a San Francisco–based media and entertainment technology company, faced massive logistics and payment costs: ports required proof of payment or shipments incurred drummage fees totaling hundreds of thousands of dollars per month, and buyers paid by wire transfer at roughly $100 per wire. To address this, the company turned to Paystand and its Accounts Receivable solution to enable digital bank transfers.

Paystand implemented eCheck payments on its platform, delivering instant payment confirmation and digital reporting with no changes to existing A/R processes. As a result, drummage fees fell to zero and transaction costs dropped from $100 per wire to $0.50 per eCheck (a 99% reduction), driving a roughly $100K decrease in drummage fees.