News and resources on payments systems, innovations and initiatives worldwide.

Veem introduces domestic payment product

Source: Veem

Veem, a leading provider of online payment solutions, today announced the launch of Veem Local — a new product package offering that provides a no-fee domestic payment product, including ACH and check payment options for small businesses.

As many SMBs continue to face economic stress and uncertainty, the company’s latest offering aims to give back value to small business owners.

Now available in the US, Veem Local also improves the in-country payment experience for businesses, from end-to-end. Other key features include payment workflow solutions such as an enhanced reconciliation process, flexible pay-out options, 1099, integrations with Quickbooks and Xero and new free features including OCR.

In 2021, businesses are still subjected to monthly subscription, per-use and per-transaction costs for domestic transactions from other payment platforms — often requiring businesses to spend valuable time reconciling and re-entering payment data into separate applications, while paying unnecessary fees to access necessary payment features. With Veem, users have access to a smarter online experience and a fee-free option to send, receive and reconcile business payments within the United States.

“We’re always looking for ways to provide more value to our small business users. That’s why we're removing any of the typical fees you see from other providers, which often impedes the end-to-end payment experience,” said Marwan Forzley, Chief Executive Officer at Veem.

Rather than subjecting themselves to the complicated domestic transfer fees that negatively impact the accounting and reconciliation process, Veem’s latest product release puts business owners and contractors in the driver’s seat, with more payment options to pay or get paid anywhere in the US. 

Comments: (0)