# Streamlined Payments Save Time And Fees For BIIA Insurance

Female-owned insurance pioneer in Virginia automating Accounts Receivable with Paystand.

## By The Numbers

### 65%
#### Improvement In Back-Office Efficiency

### 42%
#### Increase In Bills Paid Digitally

### 50%
#### Decrease In Transaction Costs

#### Headquarters

##### Norfolk, VA

#### Industry

##### Insurance

###### Client

#### Challenge

BIIA’s accounting team needed a way to drive customers to the website for easy payment processing that would reduce time spent by staff, decrease uncertainty regarding processing fees, and significantly lower transaction costs.

#### Solution

BIIA turned to Paystand to deliver a seamless payment experience that addressed challenges within the context of their existing invoicing system. In just a matter of days, BIIA Insurance installed Paystand’s digital payment gateway to enable customer payments on the website.

## Testimonials

“Paystand solved a critical problem for us: going digital without the fees associated with online transactions. We've saved millions by shifting to Paystand.”

Patty Letchworth  
CEO

### Challenges Faced by BIIA Insurance

- Manual billing process took significant staff time and effort  
- Reliance on checks, credit card forms, and phone payments caused inefficiencies  
- High credit card fees negatively impacted profitability  
- Slow payment processing led to delays and frustrated customers  
- Needed a solution that could scale with their expanding customer base

### Solutions Implemented with Paystand

- Adopted digital payments to streamline customer billing  
- **Reduced transaction costs by nearly 50%** with lower-fee options  
- Enabled online payments, **increasing electronic payment adoption by 42%**  
- Freed up staff time for more strategic tasks by automating payment processes  
- Provided a smoother, faster payment experience for customers

[**Make payments a strategic advantage for your business**  
Request Demo](/content/resources/case-studies/biia-insurance#/index.html)

Paystand is on a mission to create a more open financial system, starting with B2B payments. Using blockchain and cloud technology, we pioneered Payments-as-a-Service to digitize and automate your entire cash lifecycle. Our software makes it possible to digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue.