Veem, a next-generation business-to-business payments platform provider, has announced the launch of the Veem Multi-Rail API which allows applications to send international payments via modern block-chain technologies, treasury, and third-party payment processors. The Veem platform transfers money securely between more than sixty different countries, and the company has a network of more than 40,000 businesses.
Veem (formerly Align Commerce) is a global business-to-business payments platform that uses multi-rail payment technology to calculate the best way to send payments based on the available options. Multi-rail means that the platform leverages multiple payment rails to route money transfers efficiently from point A to point B without the need for intermediary banks and associated banking fees. The Veem platform leverages blockchain electronic rail, wire rail, and treasury management rail.
The Veem platform and Multi-Rail API allows applications to send and receive payments, check the status of payments, and access a payment dashboard. The company plans on adding more features to the platform and API including payment status updates in real time, the ability to embed payment options into invoices, and vendor/supplier management capabilities.
"Technology has changed the way businesses work, but paying and getting paid by vendors and suppliers continues to be a painful, slow process. We're all accustomed to experiences where payment and commerce easily work together. Veem is bringing that integrated experience to businesses with our API," said Marwan Forzley, founder and CEO at Veem, in a prepared statement. "We're opening up the Veem Platform to all applications, making it possible to execute payments between users across the world, something that hasn’t been done before."
For more information about the Veem platform and Multi-Rail API, visit https://www.veem.com/developers/.