A UNIQUE Payment Solution for all Payouts For MLM Companies
Compiled by Pankaj L Shah
Worried about Multiple Payment Cycles and timely disbursements?
Worried about rising Processing and Disbursement Cost?
Hassled by Payment through Cheque / DD / ECS?
The SOLUTION!!
ABC is a Company dedicated to offering payment solutions and prepaid cards in various categories like Payroll, Gift, Student and day to day payment requirements.
The ABC – Alternate Channel was solely established to bridge the gap between the Bank & NM Companies considering the needs of the Networkers by researching, analyzing and providing effective viable solutions.
ABC Company is a wholly owned subsidiary of Pheidon Capital Management Ltd. an organization with an asset base of Rs 650 Crores.
ABC GPR Card
ABC GPR Card is a low-cost payment instrument exclusively designed for Companies who have large number of Channel Partners and multiple Payment cycles. ABC Card assists these Companies to disburse periodic Commissions & Incentives in Safe and Convenient way.
Benefits to NM Companies
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Reloadable Multi-use Prepaid Card which can be used at all VISA Merchant outlets, ATMS & for Online Purchases
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More convenient mode of Payment
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Reduces cost & processing time of disbursement of Incentive to Members
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Reduces Manpower requirements
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Can load any amount up to Rs 50,000
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Opportunity to enhance the Company’s Brand using co-branded Cards
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Robust IT & BPO Support through parent Company’s infrastructure
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Micro-level hand holding through Industry stalwarts, providing effective and viable solutions, viz. regular update of mobile number thru SMS or Data exchange
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Opportunity to start a closed loop Loyalty Program, thus creating an additional Revenue stream for the Company
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Complimentary participation in ABC’s Rewards and other Loyalty programs enhancing the face value of the Card. ABC strives to continuously upgrade / add such programs
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Easy reconciliation thru online MIS
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Option to hotlist the Card if lost or stolen, decreasing Company’s liability
Benefits to NM Members
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Easy to use Multipurpose Prepaid Card
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Immediate access to Incentive anytime, anywhere not dependant on Banks or Banking hours
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Wide acceptance at all VISA Merchant outlets, ATMS & for Online Purchases
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Minimum uploading of Rs 100
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Daily withdrawal limit of Rs 50,000 with
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More secure than Cheque / DD
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No need for a Bank Account
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SMS & email alerts for Card load, reload and transactions
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Can self Reload thru Net banking or by depositing Cash at the nearest branch
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Complimentary participation in ABC’s Rewards and other Loyalty programs enhancing the face value of the Card. ABC strives to continuously upgrade / add such programs
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Robust IT & BPO Support through parent Company’s infrastructure 24 x 7 Contact Centre
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View Card Balance, transaction history; change ATM PIN through Card holder Portal.
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Option to hotlist the Card if lost or stolen
Parameters |
Prepaid Card |
Cheque |
DD |
ECS |
Cost |
Nominal Issuance and Reload fees |
Printing and Bundling Charges |
Printing and Bundling Charges + Bank Charges |
Charges applicable as per Bank |
Processing time |
Instant confirmation on load of amount |
Time Consuming task of Printing the Cheque against each Name |
DD can be prepared only by Bank and printing DD’s can take time depending on no of DD’s |
Transfer to be made against each name |
Member |
Instant Cash through ATM’s |
En-cashing takes 2-3 days |
En-cashing takes 1-2 days |
Transfer takes 1-2 days depending on bank |
Not necessary to have a Bank account |
Bank account required |
Bank account required |
Bank account required |
|
Loyalty Program on card usage |
N A |
N A |
N A |
|
NM company |
No manual work ,Bulk upload |
High amount of manual work involved |
High amount of manual work involved |
Individual transaction consumes too much time |
No Courier Charges |
Courier charges applicable |
Courier charges applicable |
NA |
|
Easy to upload Commissions , Online reconciliation reports available |
Manually reconciliation against each Cheque |
Manually reconciliation against each DD |
Have to download day to day transaction and do reconciliation |
|
Safety |
Amount directly loaded on Card |
Chance of misplace, tear, damage |
Chance of misplace, tear, damage |
NA |
Conclusion:
The Author agrees that the Solution provided is “Old Wine in a New Bottle” but also emphasizes that the Solution has become more Mature providing New / Additional features which hitherto where not available.
The Author can be contacted at
Its a sponsored Article.
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