Jun 9, 2017
Veem is transforming the cross-border payments process for SMB's –which is a $25 trillion market. There are currently $50 billion in fees due to an antiquated wire transfer system that takes too long, is too complex and is not designed to meet the needs of small businesses globally.
The global payments industry is currently a patchwork system that involves multiple financial institutions and currency exchanges, introducing numerous fees and confusion.
Now, by intelligently routing wire transfers between different payment rails, including blockchain, the company's multi-rail technology connects the disparate parts of the international wire transfer process, bringing the simplicity of consumer payments to small businesses by enabling them to send and receive payments using only an email address.