Why Are Veem’s Multi-Rail Payments the Best for Your Business
July 24, 2018
The world of finance used to be ruled by banks. Large financial institutions had the know-how and power to keep all finance processes under their total control. You either kept your money in your bank or under your pillow. End of story.
Luckily, financial technology (fintech) changed that. In the last decade, several companies have emerged that offer a new and innovative approach to finance for consumers and small businesses alike.
For example, innovative investment companies like BlueVine allow small businesses to receive the necessary funding to realize their full potential. Similarly, the process of global payments became faster, easier, and more secure with companies like Veem.
Payments with a Click
Veem revolutionizes the way global payments work. Small businesses can send and request international transfers with just a click. You can track all your transactions and tailor your payments to the specific needs of your business.
This is the short version. But for clients who want to know more about how we work, here’s a special peek behind the curtain.
If we need to name one thing that makes us truly special in the world of fintech, it’s definitely our advanced thinking in payment processing that led to the invention of our one-of-a-kind multi-rail technology
Many people want to know what makes us different from other payments companies. There’s no simple answer to that: honesty, personalized services, and a deep commitment to our clients’ success are all important factors in the unique Veem approach.
But if we need to name one thing that makes us truly special in the world of fintech, it’s definitely our advanced thinking in payment processing that led to the invention of our one-of-a-kind multi-rail technology.
What Is Multi-Rail?
The groundbreaking multi-rail technology was developed by Veem. We combine traditional and innovative payment rails to ensure that all of your transactions arrive as quickly, securely, and as cost-effectively as possible.
Multi-rail technology incorporates three main routes: blockchain, treasury, and wires.
Blockchain is the innovative technology backing crypto-currencies, allowing you to send payments (in normal currencies) securely and cost-effectively. Each new transaction forms an encrypted block of data on the chain, which makes the system nearly impossible to tamper with.
We combine traditional and innovative payment rails to ensure that all of your transactions arrive as quickly, securely, and as cost-effectively as possible.
Treasury stands for our network of local financial institutions, operating in various countries and ready to forward payments. We work closely together to provide the best possible service. Occasionally, when nothing else is available, we use traditional wires to make sure your money reaches its destination.
Regardless of the route your payment takes, your costs are always the same. In any case, you pay $0 wire fees and enjoy our competitive foreign exchange rates.
How Does It Work?
Imagine multi-rail technology as a map. When your transaction request comes in, the system reviews the specifics (amount, date, as well as starting point and destination), and searches for possible routes.
Each payment could travel over various rails. Our system analyzes all of them, and picks the rail that can deliver the fastest and most secure transaction at the specific time, in your specific case.
It’s a built-in automated optimization system, reminiscent of artificial intelligence (AI), that chooses the best possible route for each and every one of your transactions.
Multi-rail technology is your payments’ personal GPS. It’s a built-in automated optimization system, reminiscent of artificial intelligence (AI), that chooses the best possible route for each and every one of your transactions.
The best thing is, you don’t notice any of it. All you need to do is send or request your payment with a single click, and you can rest assured that our multi-rail technology delivers it to its destination as fast and secure as possible.
Sign up for a Veem account and enjoy the services of your payments’ personal GPS.