About Veem

Veem provides a compliant payment infrastructure for businesses and fintechs operating globally. Today, Veem supports payments across 100+ countries and multiple currencies, serving more than 1.1 million users worldwide with competitive FX rates and reliable cross-border execution.

 

Glossary of Key Terms
Payer
The individual or business initiating and sending funds through the Veem platform.

Beneficiary (Payee)
The individual or business designated to receive funds.

Partner
An organization integrating Veem’s infrastructure into its platform to enable payment capabilities for its end users.

Merchant of Record
The entity of record for payment processing, regulatory compliance, and applicable tax obligations tied to a transaction.

Back to top

eCommerce Payments Overview

Veem’s eCommerce Payments solution enables platforms and service businesses to accept payments at checkout or through B2B invoices using a fully managed Merchant of Record model. Veem handles the transaction end-to-end, including acquiring, compliance, KYC, and settlement, so sellers can focus on their business rather than payments infrastructure.

Use Cases
Veem eCommerce Payments is designed for platforms and service businesses that need a managed payment acceptance model. Common use cases include:

  • B2B Services – Consulting, SaaS, professional services, staffing, and managed services platforms where buyers are businesses paying for ongoing or project-based engagements.
  • Consumer Services – Platforms or marketplaces where end consumers purchase services at checkout.
  • Cross-Border Service Payments – Checkout flows where the buyer and seller are in different countries.

This solution is intended for service businesses and invoice-based payment flows, including invoices for physical goods. It is not intended for consumer checkout flows that require hard-goods or physical product fulfillment.

Merchant of Record Program
Veem operates as the Merchant of Record on all transactions. That means Veem, rather than the platform or service provider, is the entity of record for payment processing, regulatory compliance, and applicable tax obligations.

Sellers do not need their own acquiring relationships, PCI infrastructure, or compliance framework. Veem owns the transaction and manages the payment lifecycle through processing, compliance, and settlement.

Supported Payment Methods
Veem enables partners to accept payments through multiple methods, supporting checkout, invoice, bank-direct, and cross-border collection flows.

Payment Method Description Best Fit
Cards Debit and credit card acceptance at checkout. Supported networks include Visa and Mastercard. B2C service checkout and B2B procurement flows.
ACH / Same-Day ACH Pull-based bank account debit for buyers who prefer bank-direct payment. Lower-cost bank payments and invoice flows.
ACH via Plaid ACH with Plaid account verification and debit authorization. Consumer, SMB, subscription, and recurring payment use cases.
Virtual Bank Accounts Local collection accounts that allow business buyers, consumers, marketplaces, or payroll providers to push funds. Local collection workflows and marketplace-connected payment flows.
Stablecoins USDC or USDT collection for cross-border transactions where traditional rails introduce FX friction, higher fees, or delays. Cross-border service payments and global collection flows.

Cards
Veem supports debit and credit card acceptance at checkout for both B2C service purchases and B2B procurement flows where buyers want to pay by card for float or rebate purposes. Cards are the primary method for consumer-facing checkout and can also support B2B service platforms with established buyer relationships.

Supported card networks include Visa and Mastercard.

ACH / Same-Day ACH
For buyers who prefer bank-direct payment, or for sellers who want to avoid card interchange costs, Veem supports ACH and Same-Day ACH. The experience automatically debits the buyer’s bank account.

The partner is responsible for losses related to insufficient funds on ACH pull-based transactions.

ACH via Plaid
Veem supports ACH with Plaid integration for account verification and debit authorization. This creates an experience similar to card checkout by checking for sufficient bank account balances before processing the payment, helping reduce transaction risk.

ACH via Plaid is well suited for consumer and SMB payments, subscription billing, and recurring engagements.

Virtual Bank Accounts
For merchants that prefer local collection workflows, Veem can create virtual bank accounts and make them available to connect with marketplaces, payroll providers, business buyers, or consumers that want to push funds into the account.

Veem then processes the payments and settles with the merchant or partner relationship.

Stablecoins
For cross-border transactions where traditional card or wire rails introduce FX friction, higher fees, or settlement delays, Veem supports stablecoin as a collection mechanism. Buyers can pay in USDC or USDT.

Veem handles compliance, custody, and settlement, allowing sellers to receive payment without managing wallets or exchange relationships.

Back to top

Settlement

For card acquiring programs, Veem supports two settlement structures.

Settlement Model Description Reserve Requirement
7-Day Delayed Settlement Settlement is delayed by 7 calendar days from the date of processing activity, allowing Veem to apply adjustments for refunds, chargebacks, and reversals before funds are released. No prefunded reserve required.
Daily Settlement with Rolling Reserve Veem settles card processing activity daily, subject to a prefunded rolling reserve sized at approximately 3 days of projected average daily card volume. Subsequent settlements are reduced until the reserve is restored if the reserve is drawn against for card-related adjustments.

7-Day Delayed Settlement
Settlement is delayed by 7 calendar days from the date of processing activity. This gives Veem time to apply adjustments for refunds, chargebacks, and reversals before funds are released.

No prefunded reserve is required for the 7-day delayed settlement model.

Daily Settlement with Rolling Reserve
Veem settles card processing activity daily, subject to a prefunded rolling reserve sized at approximately 3 days of projected average daily card volume.

If the reserve is drawn against to cover card-related adjustments, subsequent settlements are reduced until the reserve is restored.

Back to top

Compliance and Security Standards

Veem is built on a foundation of global regulatory compliance and security, helping partners embed payments with confidence and trust. We maintain an extensive network of licenses, regulatory registrations, and security protocols to ensure that transactions are safe, compliant, and transparent.

Licensing and Regulatory Framework

  • Licensed Money Services Business (MSB) in the United States, regulated by FinCEN (Financial Crimes Enforcement Network).
  • Licensed MSB in Canada, regulated by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada).
  • Registered with AMF (Autorité des marchés financiers) for financial services in Québec.
  • In partnership with licensed providers in Australia and registered with AUSTRAC (Australian Transaction Reports and Analysis Centre).
  • Licensed and operating under compliant frameworks across the EU and UK to support cross-border payments.

AML/KYC Compliance

  • Comprehensive, global Know Your Customer (KYC) and Know Your Business (KYB) capability enabling onboarding in most regions.
  • Compliance with Anti-Money Laundering (AML) regulations across supported regions.
  • Ongoing customer and transaction monitoring to detect, report, and prevent suspicious activities.

Security and Reporting Standards

  • End-to-end encryption and secure data handling practices.
  • Real-time transaction monitoring systems to identify fraud and maintain regulatory reporting requirements.
  • Compliance with key industry standards, including PCI DSS for payment data security and SOC 2 for data handling and operational controls.
  • Adherence to major global data protection laws, including GDPR (EU), PIPEDA (Canada), and applicable U.S. state privacy laws such as CCPA (California).

Back to top