Global Payments

Veem Brings Platform To Canada; Zeux Plans Token Listing For Digital Wallet

The Axis

Welcome to The Axis, your late look at payments news from around the world. Coverage includes global payment firm Veem introducing its payments platform to Canada. In addition, United Kingdom-based Zeux plans to list a digital token to its wallet that can be used for mobile payments, and Bank of China Hong Kong is enabling Hong Kong consumers to top off their eWallets without needing a mainland China bank account.

Global payments firm Veem is bringing its international small business payments platform to Canada, the company said in an announcement. Veem, which says it enables businesses in over 95 countries to process funds, said that its platform allows for multi-currency payments. It also provides users with the opportunity to see currency and transaction identification information as well as exchange rates. Veem CEO Marwan Forzley said that the company faciliates “safe, secure transactions and expand into markets to better serve businesses regardless of size.” According to the press release, the company uses “disruptive technologies” like the blockchain and it seeks to “build a new user-centric financial ecosystem that services global businesses in their international endeavors.”

And the United Kingdom’s Zeux said that it would list HBAR tokens from Hedera in its wallet, which will let users make point-of-sale (POS) payments using the cryptocurrency, the company said in an announcement. The company also plans to tap into near-field communication to enable customers to use the digital currency at places that take Samsung Pay and Apple Pay. Zeux Founder and CEO Frank Zhou said in the announcement, “Hedera's powerful hashgraph technology makes it attractive to Zeux. Their platform offers the ability to conduct transactions with unparalleled speed and security, and hence the ability to scale for mass adoption as a network.”

In Asia, Bank of China Hong Kong is letting customers from Hong Kong top off their BOC Pay app eWallets without needing a bank account on the mainland, the South China Morning Post reported. In the past, consumers from Hong Kong needed a mainland bank account to use services like Alipay and WeChat Pay. According to the report, users will be able to use “any Hong Kong bank account” to add funds to the app starting on Wednesday (Dec. 12). The bank will reportedly tap into The Faster Payment System, which the Hong Kong Monetary Authority (HKMA) unveiled in September.



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.