Have you been working yourself ragged on a project or event only to be told that you need to wait for the payment to clear and when it does the banking fees have eaten a much larger piece of the pie than expected? Or are you the account manager for a coworking team or space and juggling international payments in multiple currencies, government regulations and frustrated coworkers? Velvet Platform is the solution to your payment woes. Velvet is a fast, safe, secure and transparent escrow and payment service for clients, across borders, with no hidden costs and a team that will help you set it up to fit your business model and needs to a tee.
The brainchild of Alexander Zelinsky, Velvet was first created as a solution to the traditional escrow services for his property management company that Alexander was focussed on at the time. Alexander was constantly battling to have monies released from escrow on time and felt that there had to be a better solution. Through extensive research and substantial investments, Alexander developed Velvet — where money can be held in a safe and secure location (digitally) and paid out quickly into the right accounts, in the right currencies, documented to make the transfers transparent to all involved, without the need of a bank clerk.
The success of Velvet as an escrow tool made Alexander realise the potential of the platform as a payment service as well. This bankless platform is ideal for freelancers, small businesses, distributed teams, coworking teams and spaces – because all face similar struggles. As a freelancer or small business with a distributed team, the administration involved around managing invoices from suppliers, international payments for team members, and the legal regulations you need to adhere to (such as GDPR and anti-money laundering and anti-fraud laws and regulations ) can become a full-time job in itself. Coworking spaces across the globe also struggle with these challenges.
Velvet has therefore partnered with the European Coworking Assembly & Sumsub “to help you create the future of work, one collaboration at a time” and will be launching several tools for the collaboration and coworking ecosystem which will include AML/GDRP compliance and smart contract tools, along with its payment services in the coming months.
The team at Velvet knows that working with new technology and players can be scary, especially when it comes to dealing with money transfers, and as an independent worker you also want to make sure you’re getting the best deal.
Velvet is fully licenced (as well as other companies of the Velvet group) to provide financial services, uses the most secure transaction tracking technology (which means cutting down the number of times money is moved from one account to another and therefore saving on banking fees and other hidden costs) on the market and provides a personal touch (you will be working with an actual human as opposed to a bot and FAQ page) to help you set up the service to maximise your time, money and service offering.
Velvet understands that the way people work is changing and evolving all around us and you need a payment system that will change and adapt with you. For more on Velvet, its services and cowork tools visit www.velvet.li and www.cowork.tools.