Veem reaches 60,000 small businesses served, expands to 96 countries

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Global payments platform expands services to empower more small businesses

SAN FRANCISCO — MAY 17, 2018 — Veem, the global payments provider designed for small businesses, today announced it has reached 60K small businesses on its payments network, and can now send money to and from 96 countries.

Replacing traditional bank wires with Veem saves small businesses time and money that could be better spent expanding their operations.

The cross-border payments industry is valued at $150 trillion, and is expected to reach $218 trillion by 2020.

Small businesses pay $50 billion in unnecessary fees to an inefficient system that lacks the innovation, transparency and security that is expected of today’s tech.

Small businesses are being stifled working and paying internationally by outdated bank wires that are fundamentally broken

Veem provides fast and easy payments to small businesses in new countries and with new currencies, helping them grow and thrive in the global market.

“Technology is driving small businesses to expand and outsource their operations, but they’re being stifled working and paying internationally by outdated and obsolete bank wires that are fundamentally broken,” said Marwan Forzley, CEO and co-founder of Veem.

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About Veem

Veem is a next-generation platform for business-to-business payments. Veem enables businesses to send and receive payments in local currency with a few simple steps using our unique multi-rail technology. Founded by a world-class team of industry veterans with over 100 years of combined experience in payments, payment processing and banking IT infrastructure management, our mission is to change the legacy financial payment system using disruptive technologies such as blockchain, and by building a new user-centric financial ecosystem that services global businesses in their global endeavors.