Collections:
An Overview for Partners

How It Works

Payment Options For The Payer
Veem enables payers and partners to collect funds with ultimate payment flexibility. Available payment methods for the payers include:

 

 

 
 
Connecting a Bank Account
Veem offers various ways in which a customer can add their bank account:

• Instant Verification (Plaid) – Beneficiaries can securely link their bank accounts through Plaid, enabling faster verification and reducing manual input errors. This method enhances security and provides immediate access to funds.
• Manual Entry – For beneficiaries who prefer or require an alternative, bank details can be manually entered and verified. While this method takes slightly longer, it ensures businesses with unique banking needs can still connect seamlessly.
• Virtual Bank Accounts – You can also issue dedicated virtual bank accounts to your beneficiaries, enabling them to receive deposits and manage funds without relying on external accounts.

 
 
Settlement Methods
Veem offers a wide range of options for settling funds with beneficiaries. Funds can be deposited to one of the following methods:

 

 

If beneficiaries do not already have a bank account or debit card, partners can issue accounts through Veem to enable beneficiaries to receive disbursements. Available account options are outlined in the following section.

 
 
Account Issuance
Veem enables partners to issue accounts for payees. The following account types allow payees to hold, receive, and manage disbursements when a bank account or debit card is not already available.

 

 

 
 
Risk Management
Veem’s Risk Signals protect your platform from fraud, ACH returns, and chargebacks through real-time analysis of payer behavior and transaction patterns. Choose from three automation tiers to match your risk management strategy.

What Are Risk Signals?
Fraud detection indicators that analyze payer behavior, account history, and transaction patterns in real-time to identify suspicious ACH Pull and card payments before processing. Protects against fraudulent transactions, ACH returns, and chargebacks.

Choose Your Risk Management Tier

 

Scope & Coverage
Risk signals are currently available for ACH Pull transactions and card payments. Other payment methods (wires, stablecoins) have built-in fraud protection through their respective payment rails.

 
 
Partner Onboarding
Partner onboarding is a one-time setup process designed to align technical, operational, and compliance requirements before launch. Veem works closely with partners to configure accounts, validate integrations, and ensure readiness for production disbursements.

Typical onboarding steps include:

• Partnership alignment – Confirm use case, payout model, supported regions, and integration approach.
• Account and environment setup – Set up partner accounts across Veem systems, including sandbox and production environments as applicable.
• Compliance and configuration review – Validate onboarding flows, KYC and KYB requirements, and any account or payout configurations tied to the partner model.
• API integration and testing – Integrate and test Veem APIs or embedded components to ensure payment creation, status handling, and error flows function as expected.
• Pre-launch validation – Complete end-to-end testing and readiness checks prior to enabling live disbursements.

 
 
Beneficiary Onboarding
Onboarding your customers or beneficiaries is quick and easy.

Here’s how they can get started:

1. Sign Up – Users simply create an account on your platform.
2. Add a Bank Account – They link a bank account for payment processing.
3. Set Payment Preferences – The system remembers your customers preferences by default for a seamless, day-to-day user experience.

 
 
Automated KYC/KYB
Veem verifies legal business identity, ownership structure, and controlling parties, including beneficial owners and authorized signers, to meet global KYC and KYB requirements.

Here’s what Veem does in terms of KYC/KYB:

• Business & Beneficial Owner Verification – Veem verifies legal business identity, ownership structure, and controlling parties, including beneficial owners and authorized signers, to meet global KYC and KYB requirements.
• Document and Data Collection – Veem collects and validates required documentation such as business registration, government-issued identification, and supporting materials based on jurisdiction, entity type, and risk profile.
• Risk Scoring and Onboarding Control – Each business is assessed using a risk-based framework that informs onboarding decisions, transaction limits, and permitted payment rails.
• Ongoing Monitoring and Review – Veem continuously monitors accounts for changes in risk, suspicious behavior, and regulatory triggers, applying enhanced due diligence or remediation where required.

 
 

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