- Special Promotional Offers
- Prepaid Card Programmes
- Prepaid Payout Card
- Virtual Payment Systems
- Electronic Money Transfer
- Money Transfer
- Money Transfer Services
- Payroll Corporate Card
- Payroll Card Providers
- Payroll Management Solutions
- International Payroll Systems
- Travel and Multi-Currency Card Programs
- International Wire Transfer Alternative
- Affiliate/MLM Marketing Commission Cards
- Direct Sales (MLM) Payment Solutions
- Agents and Introducers Required
- Contactless Payment Systems
- Point Of Sale Systems
- Mass Payment Processing
- Payout Cards
- Offshore Bank Accounts and IBC Company Formations
- International Wages
- Global Payout Processing
Often misunderstood, Direct Selling companies racked-up sales of over $10 billion in the United States in 2008. Companies like Amway, Avon, Herbalife, Tupperware, Mary Kay, and others contributed significant amounts of income to US households. In addition to these billion-dollar giants, thousands of smaller direct sellers like FreedomRocks and Kyani are driving a vibrant and lucrative sector of the economy. One of the most interesting challenges for these companies is the distribution of compensation to marketing representatives.
Sometimes known as Multi-level Marketing (MLM) or Network Marketing, many of this industry’s companies contain multiple layers of sales agents. Managing the payment distribution process can therefore be a daunting experience, especially in large organizations. What’s more, direct sellers are beginning to extend their business models across international lines, where regrettably, paying agents can be troublesome.
What is Direct Selling?
Direct Selling describes a marketing structure designed to create a sales force by compensating promoters of company products not only for sales they personally generate, but also for the sales of other promoters they introduce to the company. This multi-level marketing creates a structure of downstream distributors resulting in a hierarchy of multiple levels of compensation or commissions. These companies make extensive use of word of mouth, as well as personal and professional networking to propagate their businesses. Such enterprises are generally geared to consumer-direct sales; however, MLMs targeting businesses are not uncommon.
Paying Direct Selling representatives in UK and USA.
In the UK/US, distributors, agents or representatives have traditionally been compensated by means of paper check or direct deposit . In some cases, agents are even paid-in cash. Payment by paper check can be inefficient, and requires that the payee possesses a bank account. The company or the distributor issuing checks incurs real processing costs cutting checks on a regular basis. There are also the costs associated with lost and stolen checks, and the effort it takes to reissue these checks. Direct deposit is more efficient than paper checks, but still requires that the representative receiving payment have a bank account. Both methods require a lot of record-keeping. While cash is an expedient and fluid method of paying agents, it makes bookkeeping very difficult and can cause problems with taxing authorities.
Paying Direct Selling agents abroad
While certainly not perfect, payment systems in the US are generally superior to payment methods available to multi-level marketers abroad. With the exception of several EU countries, the ability to pay agents by check or ACH within a particular country is far from convenient. This is certainly true in underdeveloped countries, where ACH systems may not exists and many people do not possess bank accounts.
Paying distributors, agents or reps across international borders creates its own set of difficulties. The principal method of payment in this scenario is by wire transfer. Wire transfers can be expensive and can take days to post to the payee‘s account, and the payee must possess a bank account. What’s more, transferring foreign funds into local banks may require import/export documentation and may trigger certain tax considerations in certain countries. Furthermore, once repatriated, the payee‘s funds may not enjoy the liquidity of the originating currency. There are intermediary-based payments solutions like Western Union, however, these methods can be expensive and cumbersome to use.
GMC Prepaid Cards Direct Selling Compensation Solutions
GMC Prepaid Cards is a simple and powerful Direct Selling compensation solution. Since 2007 our industry specific solutions have securely delivered millions of payments to hundreds of thousands of people around the world. Utilizing a prepaid MasterCard card, we enable marketers of all sizes to affordably deliver compensation to their downstream representatives.
GMC Prepaid Cards issues prepaid MasterCard cards to payees on behalf of our Direct Selling customers. These companies can then load the prepaid cards when rep commissions are due. Reps can then withdraw funds from more than one million ATMs in over 210 countries. These prepaid cards can also be used to purchase goods from merchants accepting Debit MasterCard worldwide.
Why is GMC Prepaid Cards are ideal for MLMs paying their representatives?
The GMC Prepaid Cards solution is perfect for companies and networks needing to pay sales commissions at home and abroad. Our systems provide a comprehensive end-to-end online payment solution that incorporates registration, issuance, funding and reporting. Extensive fraud controls protect payers and payees alike. Our integrated approach gives MLMs unparalleled visibility and control over the entire payment process — from loading cards to stopping payment on fraudulent transactions. And because we leverage the sophisticated MasterCard system, our online payment distribution solutions are faster and more cost effective than traditional funding methods. In fact, the GMC Prepaid Cards system can reduce cost per payment by as much as 75%.
GMC Prepaid Cards: The ideal branding instrument.
It is said that marketing is all about the brand. That‘s why matrixcardsolutions provides Direct Sellers with the ability to co-brand their prepaid MasterCard cards. The co-branded by GMC Prepaid Cards Prepaid MasterCard will instill feelings of stability, achievement and pride in your marketing force. The card also helps improve brand awareness, and can be very valuable in recruiting new marketing representatives.
Why is GMC Prepaid Cards ideal for compensating representatives?
There are a lot of reasons why marketing representatives will prefer to be paid on their Prepaid MasterCard. Simply put, our prepaid card is the most convenient and liquid payment instrument available. No bank account or credit check is required payees can avoid annoying trips to the bank. Reps have access to their funds in as little three hours after funding. They can retrieve hard cash from over one million ATMs worldwide. Until spent or withdrawn, all funds reside on the card, projecting strength and simplifying tax planning. What‘s best is that reps receive all these benefits at virtually no cost.
The best available solution:
Perfect for companies, and ideal for marketing representatives, the GMC Prepaid Cards solution represents the fastest and most efficient worldwide payments distribution platform available. GMC Prepaid Cards allows its users to avoid the cost, complexity and delays of traditional banking systems and eliminates the need for intermediate payment providers. Utilizing a prepaid MasterCard card, GMC Prepaid Cards provides companies with a highly functional payment management system, while offering representatives a compensation option with unmatched liquidity.