VeriMoney is a new way to easily make payments in international trade using your smartphone. VeriMoney provides both exporters (sellers) and importers (buyers) with new and innovative ways to make the whole transaction in international trade simple and safe, from the beginning to the end of the transaction. VeriMoney is also free. There are no payment fees for either the seller and the buyer. Have you ever made a payment with T/T (Bank Wire Transfer) or L/C (Letter of Credits) in a slow and uncomfortable way? Have you ever experienced financial losses due to trade disputes, unfair claims or L/C defaults? VeriMoney now solves all these problems at once.
If you know only the mobile number registered with VeriMoney, you can send a payment immediately to anyone in the world, or you can request it in reverse. The payment will be credited directly to the seller's VeriMoney account immediately after the payment is completed. The seller can resend the VeriMoney balance as payments to other VeriMoney users, or withdraw the balance to a bank account anywhere in the world.
VeriMoney does not have a payment fee for either importers (buyers) and exporters (sellers). This means that transactions between VeriMoney users will not incur a fee regardless of the frequency of transactions. However, if you withdraw your VeriMoney balance, you will be charged a certain amount of the withdrawal processing costs by currencies. For more detailed information on the processing costs, click here.
This is one of the most important features of using VeriMoney. VeriMoney has developed a proprietary and elaborate logic to ensure the safety of online transactions for sellers (exporters) and buyers (importers) beyond simple fund transfers between users.
First, VeriMoney does not recognize chargebacks or claims. VeriMoney understands that chargebacks and claims are detrimental to sellers - particularly for global sellers. The absence of chargebacks and claims on VeriMoney means that VeriMoney immediately and permanently acknowledges the seller's ownership of the transferred funds.
How, then, can we protect the buyer's security? It depends on the buyer's choice. At the beginning of every transaction, VeriMoney requires that the buyer choose one of two payment methods, depending on whether they trust the seller. The two methods are "Instant Payment" and "Verified Payment". For the Instant Payment method, funds are transferred to the seller immediately after the buyer sends VeriMoney. For the Verified Payment method, funds are transferred to the seller through escrow. For more information on VeriMoney's unique payment methods, click here.
VeriMoney is designed to be flexible and easy to use for any type of international trade transactions. If you are using VeriMoney in a typical international trade, you can choose "Verified Payment" and enter additional items - Transaction Title, Invoice ID, Shipping, Incoterms, Contracts, Comments, etc. In this case, the funds will be transferred to the seller (exporter) after you (the buyer, importer) receive the goods or services and verify them. Also, if you are using VeriMoney to simply transfer money to a trusted overseas company or business partner, you can enter the receiver's mobile number and amount and choose "Instant Payment". In this case, the funds will be transferred to them immediately after you send VeriMoney.
You can send or request payments in 11 major currencies. Also, all of them are exchangeable at live foreign exchange rate.
AUD (Australian Dollar)
CAD (Canadian Dollar)
CHF (Swiss Franc)
GBP (Pound Sterling)
HKD (Hong Kong Dollar)
KRW (South Korean Won)
NZD (New Zealand Dollar)
SGD (Singapore Dollar)
USD (US Dollar)
VeriMoney uses a software-based one-time password (OTP) to secure accounts and process transactions. The OTP app will be installed on your smartphone, and once installed it will be used in almost all important transactions such as login, payments, exchange, and account information correction.