Veem is a global payments platform that enables users to send and receive money from anyone around the world. It offers users with an efficient and convenient system in sending international to local currency money transfers. We compiled user reviews from around the web and determined that Veem has generally positive ratings. We also shared its available pricing model.
Want to know the top payment gateway software for small business? Read our Veem alternatives guide.
Summary of Veem User Reviews
What Veem does well:
Users who gave Veem positive feedback said that the costs associated with the money transfer services are way cheaper compared to the usual bank wires. Customers said that it is a great alternative to traditional banks with ever increasing bank transfer fees.
What Veem does not do well:
Veem doesn’t have a lot of negative reviews online. However, users who gave Veem critical feedback said that transactions could take a few days to complete. They also said that it is not ideal for immediate and time-sensitive wires.
Most Helpful Positive User Review
A user who gave Veem a positive review on Trustpilot said that the program is easy and straightforward to use. He said that the app’s payment capabilities have significantly helped them fulfill international payment requirements. He particularly likes that they are able to automate nearly the entire process, while receiving detailed reports on various aspects of their operations. He also said that the customer support team is always quick to respond.
Most Helpful Negative User Review
A customer who gave Veem a critical review on Trustpilot reported that he sometimes experiences delays in receiving payments, but he also mentioned that the customer support team is always quick to respond to solve his concerns.
Veem doesn’t charge anything to its users when sending and receiving payments in their local currency. However, if the receiver chooses to receive payments in USD and is outside of the U.S, he will be charged a nominal fee of $20. Veem can also provide exchange rates that are typically lower than what traditional banks would offer.
Check out the list below of some of Veem’s features.
- International to local currency (no fees)
- International to USD ($20 transaction fee)
- Domestic payments (no fees)
- Intercompany transfers
- Accounting software integrations
- International Payment API: leveraging blockchain technology with low FX rate and no transaction fees
Helpful Payment Gateway Resources
Best Payment Gateway for Small Business 2017: Stripe vs. PayPal vs. Authorize.Net – We looked at the most popular options and rising stars and made a review of PayPal, Stripe, and Authorize.Net.
How To Accept Credit Card Payments: In-Store, Online & Mobile – This guide shows you how to accept credit cards anywhere — in a brick-and-mortar store, on a website, or using a smartphone or tablet to accept mobile payments.
5 Best Mobile Credit Card Processing Options for 2018 – We compared 5 top mobile credit card processing providers that cover a full range of mobile payment options for small businesses.
Top 6 Merchant Services Providers for Small Business in 2018 – We review 6 top-rated merchant services providers in this guide and examined the differences in plans, prices, and other key service features.
Who can use Veem?
Virtually anyone can use Veem — from companies and contractors to freelancers. Users can send and receive domestic and global business payments and track payments in real time.
How does Veem work?
Veem uses blockchain technology as a payment rail to eliminate the need for intermediary banks, therefore reducing costs. Through the technology, Veem is able to eliminate all the wire and FX fees that are normally charged in a user’s transaction when their payment hits the intermediary bank account. Once the money arrives from the sender’s bank, they utilize their technology to convert the currency and deliver it directly to the receiver’s bank account.
Veem Overview Video
This video provides an overview on how to use Veem to send and receive payments around the world.
When choosing a payment gateway, it’s important that the software integrates with other applications your business is currently using. Here is a list of some of Veem’s popular integrations: