Veem introduces industry-first access to locked exchange rates

Today’s exchange rate for tomorrow’s payments

San Francisco, California, UNITED STATES

SAN FRANCISCO, Calif., Nov. 12, 2019 (GLOBE NEWSWIRE) -- Veem, the global payments network built for business, today announced the introduction of Locked Exchange Rates, an industry-first offering that will level the playing field and increase the capacity for businesses of every size to compete in the global market. With Veem Locked Exchange Rates, businesses can mitigate foreign exchange rate volatility and risk by locking in the base-currency value of a payment or invoice.

The Veem network will now have access to a formerly enterprise-only financial tool. By removing concerns about currency volatility, companies can accurately budget, plan and forecast future cash flows  — without wasting any effort analyzing foreign exchange rates. 

With Veem Locked Exchange Rates, companies will have:

  • Streamlined Process: Businesses can access locked exchange rates quickly and efficiently with the send payment or issue invoice workflows through the Veem network in less than 30 seconds.
  • Broad Access: Regardless of size, any business can lock-in an exchange rate without experiencing the lengthy and bureaucratic processes required by legacy financial institutions. 
  • Flexible Payments: Veem Locked Exchange Rates are on a transaction-by-transaction basis allowing businesses the flexibility to choose which payment or invoice they want to lock-in.
  • All-inclusive pricing: No hidden costs or monthly subscription fees.

“Veem is dedicated to bringing small-to-midsize businesses cutting-edge advances in technology to empower them to operate on a truly global scale,” said Marwan Forzley, CEO of Veem. “Our mission is to give them fully integrated, enterprise level financial tools and products to grow, globalize, and compete effectively. Innovative products like Veem Locked Exchange Rates enable businesses of every size to think big.”

 “Once we started using the service, the ease of sending and receiving payments kept us coming back. But, the initial reason for choosing Veem was the cost,” said Jeff Watson, Sourcing Systems International. “We were saving money hand over fist, which meant we could charge our customers less for their products. No wire fees, and great foreign exchange options. It has changed the way we pay.”  

About Veem

Veem is the global payments network built for business. Trusted by more than 150,000 businesses around the world, Veem provides simple, secure, and trackable payments to over 110 countries. Our mission is to help businesses build and strengthen their relationships with suppliers and partners all over the world. Through seamless integrations with popular business applications, Veem provides a revolutionary payment experience.


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