San Francisco, California, October 25, 2022 – Veem, an Accounts Receivable/Accounts Payable network for SMBs, today announced the launch of real-time payments in 100+ countries, serving businesses with domestic and cross border payments. This will be the largest coverage of countries where businesses can pay and get paid in real-time, helping SMBs get instant access to their pay and manage cash flows. It should be noted that instant refers to wallet-to-wallet transactions in 100+ countries.
This includes support for a global Veem Wallet that enables customers to store balances and send payments from their wallet, anywhere in the world for free. In addition to wallets, Veem now supports getting paid to bank accounts that link to debit cards internationally, as well as paying from credit/debit cards globally where Visa and Mastercard are accepted.
Veem is a global AP/AR network for SMBs with integrated payments that serves 600K+ customers in over 100 countries and 80 currencies, with capabilities such as global bill pay, global invoicing, B2B checkout, and mass pay. With the expansion of payment options supported, customers can now pay and get paid with Veem Wallets and debit/credit cards in addition to bank transfers.
“We are excited to launch the largest coverage of countries enabling real-time payments around the world,” said Marwan Forzley, CEO at Veem. “We pride ourselves in providing businesses with a range of payment options that assist them in managing their cash flow needs, including the ability to pay and get paid with the payment method of their choice.”
As demand increases for cross border payments, Veem is transforming the traditionally slow business-to-business payment process with streamlined and efficient payments, all in one user interface.
“We’re proud to partner with Veem and Tabapay to further expand cross border remittance and real-time payments for businesses across the globe,” stated Keith Vander Leest, Head of Payments at Cross River. “There is a growing need for real-time solutions in an outdated and traditionally slow, complicated, and expensive process. Veem is changing the game for businesses and untangling cross border payments, ultimately broadening access for all.”
Manoj Verma, CRO, and Co-founder of TabaPay added “By leveraging TabaPay’s expertise and network connections, and Cross River’s appetite for serving cross-border use cases, Veem is able to transform antiquated payment processes rife with friction into instant payments and payouts, completed in a matter of seconds for domestic and international customers. This will enable SMBs to spend more time on their business and less time waiting for checks or wires.
This functionality was made possible in partnership with TabaPay, the leading instant money movement platform, and Cross River, an FDIC-insured technology infrastructure provider that offers embedded financial solutions and banking services to consumers and businesses.
Trusted by more than 700,000 businesses in over 100 countries, Veem is the market leader in automating accounts payables and receivables for businesses. Started with the intention of making business payments as simple as sending an email, Veem has revolutionized the way businesses pay and get paid around the world by empowering business owners, accountants, and finance professionals to take control of their payment processes. Veem levels the playing field by providing enterprise-level payment tools to small businesses. Designed with data security and privacy in mind, Veem adheres to strict compliance, privacy and data protection practices and holds all required federal and state licenses.
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