Veem is a payment gateway that enables merchants to accept domestic and international wire transfers. Its features include two-factor authentication, custom application programming interface (API) integration, payment tracking, a checkout page, and a “PayMe” button. Its fees start at $1 per transaction for payments within the US, and it’s best for those who cater to a global customer base.
Veem Pros and Cons
Ease of use
Slow payment processing time
Who Veem Is Best For
- US-based users who transact with customers in any of the 100+ countries that Veem serves may benefit from the provider’s low foreign exchange rates. Moreover, sending and accepting money in a foreign country’s local currency does not come with any additional fees.
Veem’s pricing page states that payments sent from within the US incur a fee of $1 per transaction, while payments received are free. However, recipients are charged an additional $20 per transaction for opting to accept an international payment in USD.
Those who send more than $1 million of international payments a year may contact Veem to inquire about volume pricing discounts on exchange rates.
Veem Alternatives 2020
It offers solutions for seamless wire transfers that bypass additional bank processing and verification. Let’s take a look at some of Veem’s features below.
International and domestic payments: You can send money internationally in the currency of the receiving country and accept payments locally at no additional cost. Veem ensures competitive global exchange rates in the instance of currency conversion.
Personalized pay link and “PayMe” button: You can embed Veem’s PayMe button on your checkout page or email a link to your clients to receive payments without an invoice.
Invoicing and payment tracking: Its professional templates help you customize the invoices you send to your clients, while its accounting integrations let you track and keep records of your invoices all in one place.
Notifications: You get real-time alerts from Veem throughout the entire journey of your transaction, so you don’t have to worry about losing any payments.
API partnership: Any of Veem’s specialists can help you customize the platform to match your company image and business needs.
Data security: The provider guarantees the safety of your transaction data with two-step verification, robust encryption, fraud prevention, and bank compliance.
Summary of Veem Reviews
As of this article’s writing (May 13, 2020), there are no up-to-date Veem reviews online. However, there are a couple of industry reviews that speak positively about the software’s ease of use while also mentioning issues in its payment processing speed. If you are a past or current Veem customer, then leave a review to help those who are deciding whether or not to use the product.
Veem Frequently Asked Questions (FAQs)
Which third-party applications does Veem integrate with?
The software integrates with QuickBooks, Netsuite, Xero, and Zapier.
Which countries does Veem cater to?
Countries that you can send and receive money from include Australia, Finland, Greece, Malta, Canada, Spain, Slovakia, Portugal, France, the U.K., and the US. Meanwhile, countries that may only receive payments are South Korea, Guatemala, Iceland, Philippines, Bahrain, Argentina, Chile, China, South Africa, and more.
What type of support does Veem have?
Veem offers 24-hour customer support via phone and provides you with access to its Help Center for other resources and tools such as videos and infographics.
Our Top Payment Gateway Picks
If you aren’t sure if Veem is right for you, then this article on the best payment gateways is a review of our top choices. Our team looked at a variety of solutions and narrowed our recommendations down based on the fees, security, ease of use and set up, sales channel served, and features among others.