Finding a better alternative to Checks, Western Union, and PayPal
When Josh Phan-Gruber, the Finance Manager of Xpogo (xpogo.com), needed a way to pay their international athletes in a more efficient manner, he did a quick Google search for companies that would allow him to do this. As the governing body responsible for managing the sport of Xpogo, he was paying their athletes from all over the world using various methods, which proved to be, inefficient, expensive, and time-consuming.
Challenges with previous payment methods
High fees, takes 3-4 days for money to arrive
The different methods that Xpogo was using wasn’t working for them: checks had high bank fees and took more than a month to clear, Western Union was complicated since they had to figure out where the athlete was come payday, while PayPal was expensive and slow. And so it happened that on their Google search for a solution, Xpogo came across Veem.
“I got pretty excited when I saw what Veem offered”
—Josh Phan-Gruber, Finance Manager
Veem address the shortcomings of SWIFT
Thousands in savings per year
Exceptional customer service
Payment tracking and reporting
What was ideal about Veem’s platform was having a centralized way to pay all their international athletes. Having to send out payments in a weekly/bi-weekly manner, Veem’s $0 fees to send or receive payment was also a bonus along with the level of customer service they received. Xpogo estimates saving a couple of thousand dollars a year by using Veem. “We got pretty excited when we saw what Veem offered. With expect to save a couple thousand dollars annually with Veem.”
Results achieved using Veem
Veem eliminates inefficiencies of global payment processes and the problems they cause small businesses. Without the inefficiencies and worry they bring to small businesses, owners can focus on growth and innovation. Time spent trying to diagnose and remedy failed global payments is time wasted that could be spent building your business. Efforts like this hurt productivity and other aspects of your business. By removing the middlemen and owning the global payment process from end to end, we free small businesses to focus on growing their business.