Veem Launches New Business Payments Rewards Program

In the age of a financial technology takeover, top fintech players are constantly creating new ways for consumers to send payments not only in the U.S., but around the world in a matter of minutes.

For businesses, however, the options for global payments are not as prevalent. With the help of disruptive technologies and a newly inhabited financial ecosystem, Veem strives to level the playing field with new advancements to the business-centered space.

What Happened

Veem, often referred to as the “Venmo for businesses,” announced the launch of VeemRewards after reaching 100,000 customers in over 90 countries. The new rewards program will grant businesses cash back and other additional rewards just for utilizing the new company technology, according to Tuesday’s press release.

Why It’s Important

This unique, first-of-its-kind program will encourage businesses to send international payments, invoice new customers and add new businesses to a greater supply chain; endeavors that have not yet been attempted in the industry.

“International bank wire technology hasn’t been updated since the 1970s, small businesses deserve a better user experience, less expensive payment processing, and efficient systems,” said Veem CEO and Founder Marwan Forzley. “We’re disrupting outdated bank wires and slow international payments with our payments platform and VeemRewards is the next stage of that disruption.”

What’s Next

After building a presence in 96 countries, Veem continues to grow its network and plans to further expand its global network.

“We aren’t looking to make small incremental changes in the industry, we’re looking at a very different approach to the market,” Forzley told Benzinga.

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