Commercial Payments International

In a race to grab small and medium businesses to get them on digital payments, non-bank fintechs have embarked to expand their geographical region. Last month, Veem launched Veem Local in the United States which was targeted towards SMEs

This week, Veem, a San Francisco-based payments company has announced that it has expanded its no-fees domestic payment services to Canada which is named Veem Local Canada.

Under this service, the company will provide tools such as Electronic Funds Transfers (EFT) which according to the company will aid businesses with easy and entire tools of payment options. It will also help businesses with end-to-end solutions for cross-border payments between provinces and territories across the country.

Other features include no fund caps, payment workflow solutions and integration of its payment services with QuickBooks and Xero and free features including invoice capture and tiered approval flow.

The company in its press release has noted that businesses are still dealing with ‘monthly subscriptions and per-use, per-transaction costs for domestic transactions from other payment platforms’ and such business owners would spend much of their time on reconciling and re-entering payment data into separate applications and paying unnecessary to access necessary payment features.

The company with its Veem Local Canada claims that ‘small and medium-sized businesses can now utilize a sophisticated online product to send, receive, and reconcile business payments within Canada’.