Can you imagine being able to simplify the management of online payments and collections so much that it could be done with an email? Well, that's what Veem allows you to do.
Table of Contents
For e-commerce, one of the problems that cause the most friction is always that of payments. It is a delicate matter when we sell domestically, which can become hell when we make the leap to international sales.
Different currencies, exchange rates, local regulations, multiple partners and platforms with their own integrations?
If just reading this gives you a headache, you know what we are talking about. That's why Veem is for you and for all of us who don't want more problems than strictly necessary.
Pay and get paid with something that is as commonplace on the Internet as a simple email address.
Features
Simplicity is the basis of Veem. It is so easy to interact with the tool that you don't expect to find a huge list of features. It does what it needs to do and it does it quickly – what's the need for complication?
Multiple payment methods
Actually, email is the channel or the platform, but not the medium. Veem allows us to pay using:
- Credit cards
- Debit cards
- Digital wallets
- ACH/EFT
- International wire transfers
- Checks
Integration with other platforms
Payments have implications in all the processes of the company, therefore it is necessary a perfect connection of the databases, tools and platforms that we use.
One of the risks we run, when expanding the eCommerce ecosystem, is to lose or duplicate information. That's why Veem integrates with the accounting tool you use, for example: QuickBooks Online, Xero, or Oracle NetSuite, and also allows you to make your own configurations.
Multi-currency and international presence
This fact speaks for itself: Veem is present in more than 100 different countries and allows you to operate in 70 currencies. The truth is that this is more or less equivalent to saying that Veem covers the needs of any company.
Request payments with a link
The tool is designed to generate digital invoices, if that's what you need, but what really makes the difference is that we can also send a link to the buyer so that, just by following it, they can make the payment.
If they click on it, they will be taken to a payment portal that is customized with our corporate identity, so that the user never has the feeling that they are dealing with a third party.
It even allows you to pay in guest mode, i.e. without requiring the customer to have a Veem account.
Security and tracking
Another concern -probably the biggest when it comes to payment platforms- is security. After all, our business depends on revenue, so we are not going to accept that it be put at risk.
Veem is aware of this need, which is why it has designed a system that allows us to transparently value and track transactions.
Cost
This part, although simple to apply, requires a fairly detailed explanation and that is differentiated between the cost of international payments and those applied from the platform itself.
International payments, logically, are made in foreign currencies. This is the first issue you should consider: the exchange rate, which is dynamically calculated according to market fluctuations.
The second is the fees that vary in the following list:
- International USD wire transfer $29 USD*
- International local currency $0
- International wallet to wallet transfer $0
To this we must add $40 USD for transactions over $10,000 USD.
Additionally we must add the costs of the platform itself, which are:
- ACH/EFT $0 send/receive
- Faster ACH 0.5% – for same or next day ACH
- Check (US only) $0 send
- Digital Wallet global USD transfers $0 send/receive
- International wires $0 fees and competitive exchange rates
- Credit Card 2.9%
- Debit Card 1%
- Instant deposit to Debit Card 1% – min. $1.50
Review
This is a great solution for both transactions with suppliers or partners as well as for managing business collections.
Not only is it really easy to integrate and use, it is also quite competitive in terms of price and has a highly efficient customer service available 24 hours a day, 7 days a week.
Not for nothing does it have more than 600,000 users worldwide.
Our score
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Number of features
(4)
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Pricing
(4)
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Learning curve
(4)
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User friendly
(4)
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About the author
Jordi Ordonez
I work as an independent eCommerce and Amazon consultant.
Clients
Estrella Damm, Intersport, Bella Aurora, Lladró, Textura Interiors, Nice Things Palomas, Castañer, Due-Home and many other clients.
Lecturer & Teacher
I teach and have been a speaker at: Meet Magento, Prestashop, Prestashop Day, SEMRush, Cambra de Comerç Barcelona, ClinicSEO, Ecommbeers, Ecommbrunch, Ecommercetour.com, Ecommfest, EOI, ESIC-ICEMD, Foxize, Generalitat de Catalunya, Inesdi, Quondos and The Valley.
In addition, I have done in-company trainings for brands such as Orange and Adidas.
Writer
Finally, I collaborate writing articles for Helium 10, Carbon 6, Shopify, SEMRush, Prestashop´s official blog, Brainsins, La Vanguardia, eCommerce-news.es, Marketing4ecommerce and other blogs and media.
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