Veem Launches New Invoicing, Collections Products


Online payment solutions provider Veem on Wednesday (July 21) announced a new line of products aimed at helping small businesses pay and get paid.

Veem Invoicing and Veem Collections are part of a new product line that provides end-to-end solutions for small businesses to collect and receive payments from 75 countries in both local and multiple currencies.

The new products allow small business owners to build, customize and send invoices and collect payments across the globe, including no-fee domestic payments. Payers can choose whether to send what they owe from their bank accounts, credit cards, checks or through their Veem Wallets. Veem also offers automatic payment tracking and reconciliation with QuickBooks Online and Xero.

Last month, Veem introduced Veem Local Canada, which includes no-fee electronic fund transfers and payments across the Great White North. The offering features no fund caps, payment workflow solutions, integrations with QuickBooks and Xero, free invoice capture and a tiered approval flow.

Veem launched Veem Local in March, a no-fee domestic payment product with ACH and check payment options for small businesses that include flexible pay-out options, 1099, integration with QuickBooks and Xero, and optical character recognition.

Veem transactions can now be directed via six rails, including checks, cards, SWIFT, treasury, blockchain and digital wallet. This multi-rail infrastructure lets business users work at a speed that matches their comfort, according to a company announcement late last year.

Those who hold accounts can use, send, reconcile and get money the way they wish, from instant payments like digital wallet to slower transactions such as paper checks, straight from their computers or phones.

Veem noted in the December announcement that its blockchain usage has been consistently on the uptick as of the company’s 2014 founding. At that time, the company said it first debuted the technology to the international B2B payments sector to bolster the transaction experience with greater effectiveness, safety and dependability.