Repay has also signed a commercial partnership with Veem. Credit: Jonas Leupe on Unsplash.

US-based integrated payment solutions provider Repay has made a minority equity investment in digital payments firm Veem.

The deal, whose financial terms were undisclosed, aims to support Veem’s growth.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Additionally, Repay and Veem signed a commercial partnership to expand their B2B payment capabilities.

The partnership will help Repay bolster its ability to deliver cross-border payment options while Veem will tap Repay’s core B2B virtual card and acquiring technology to bolster its capabilities.

Repay B2B business EVP Darin Horrocks said: “This mutually beneficial commercial agreement and investment strengthens our relationship with a strategic and long term B2B partner.”

Repay will utilise Veem’s cross-border technology to enhance its B2B offering. The move is expected to help the firm unlock more of the $125trn global B2B payments market, noted Horrocks.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

As part of the partnership, the firm will provide access to its issuing technology and virtual payment capabilities to Veem customers.

Veem head of Corporate Development Bimal Shah said: “This partnership with Repay will empower business users to conduct globalised business transactions with ease and convenience.

“Merchants today demand fast, reliable and secure payments. To meet these needs, we’re excited to join forces and give Repay users access to our digital payment offerings.

“The digital payments revolution is in full swing and we are thrilled to complement our existing transnational technology products with Repay.”

In July this year, Veem rolled out a new product suite focused on domestic and cross border transactions.

Last year In September, the firm secured $31m investment to develop a channel partner programme for geographic expansion.

Meanwhile, Repay recently acquired BillingTree as well as Kontrol Payables.