With many small businesses continuing to face economic stress and uncertainty because of the Covid-19 pandemic, having access to the advanced tools to streamline payments can prove invaluable.
Veem Local Supports Small Business
One such product is a new domestic payment product that aims to support small business owners in the US. The recently launched product has been developed by Veem, a provider of online payment solutions.
Known as Veem Local, the domestic payment product package includes ACH, a type of electronic bank-to-bank payment and check payment options.
Improving Payment Workflow Solutions
The product is designed to improve payment workflow solutions. Businesses can make secure, easy and free domestic payments. Users can benefit from an enhanced reconciliation process and being able to re-enter payment data into separate applications.
The Covid-19 pandemic and its subsequent lockdowns have had crippling financial implications on many small businesses. Consequently, many businesses are looking for ways to cutback on expenses and make vital savings.
No Payment Fees
Veem Local provides a way for small businesses to improve their in-country payment experience without being charged the fees other providers in the payments space charge. For example, there are no Monthly membership fees to pay with Veem Local.
As Marwan Forzley, Chief Executive Officer at Veem, points out:
“We’re always looking for ways to provide more value to our small business users. That’s why we’re removing any of the typical fees you see from other providers, which often impedes the end-to-end payment experience.”
With the Veem platform, small businesses have a simplified approach to the way businesses send and receive payments. Through this smart online experience, small businesses can benefit from a fee-free way to send, receive and reconcile business payments within the US. As a result, many cash and time-strapped small businesses can make vital savings and enjoy a more streamlined and simplified approach to payments at a time when they need it the most.
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People don’t realize that transaction fees often skim about 2.5%-3% of SMB revenue. This could be a really big help.