7G Electronic Payment Solutions
7GPay© - Electronic Payment Network
Building strong alliances between you and your Distributors...
Our electronic payment network, 7GPay offers global and domestic corporations the ability to settle transactions and pay distributors worldwide with a multi-currency payment solution via the web. 7GPay provides you with a faster, secure, more efficient and cost-effective international payment distribution method compared with any other payment method. The combined power of the 7GPay network results in significant transaction savings, higher productivity and tangible results to your organizations bottom-line.
Case Study
A Global Corporation requires the ability to provide electronic processing in five countries settling in local currencies. Pay domestic and foreign Distributors in five different currencies while retaining the float and breakage.
Until now the only option was to be burdened by maintaining separate merchant accounts in each county they operate in, limited to providing an international debit card settling in only one currency. Encumbered by dispatching wire transfers and issuing paper checks became burdensome, depriving the organization from operating at optimum efficiency.
These cumbersome and costly methods of disbursement are time consuming, expensive to administer, not to mention the challenges arising from dealing with foreign currencies, lost or stolen checks, escheatment issues, fraud and more.
Credit Card Processing
Whether you are competing globally or domestically; conducting business face to face or through ecommerce we can provide you with leading-edge electronic processing technology.
The 7GPay network offers an unparalleled suite of merchant products and flexible, industry-specific services uniquely tailored for the special business needs of network marketing and direct sales organizations. We provide your organization with personalized in-house customer service and because we know each origination has specific reporting needs our state-of-the-art technology department is ready to accommodate your customized requirements.
Prepaid Cards
Why not simplify your payroll process and save money when paying your distributors earned commissions on a company branded prepaid card. Unbanked distributors have full access to their funds and can use your branded prepaid MasterCard in any location MasterCard is accepted. Banked distributors can simply transfer fund to their bank account or use as a spending account. Whether your distributors are banked or unbanked, prepaid card provide an elegant solution for distributors to reinvest in more products while significantly lowering your processing fees.
Virtual Account
A Paradigm Shift
The 7GPay network offers you the opportunity to pay your distributors using a simple and secure method. You simply set up a merchant account in each country, when you run your commission report you simply deposit the funds into the bank account associated with your merchant account. The account is owned and controlled by you so you retain the float and any breakage that may occur.
There is no cost to you for the transfer of funds and there is no monthly fee for the distributor. The distributor can transfer the funds to their bank account for a nominal fee. The distributor can also use the funds in their virtual 7GPay account to reinvest in their business. You will only pay a fee of 1% instead of the normal processing fee of up to 3.5%.
Everyone wins. You have a secure cost effective way of paying your distributors and will significantly add to your bottom-line when your distributors uses funds on their 7GPay virtual account to purchase product from you. The company retains the float and the breakage on any unredeemed funds. Distributors get paid quicker and have no monthly fee like they would with a prepaid card. Distributors only pay a fee when they receive funds and transfer the money to their bank account.
How You and Your Distributors Benefit
- Excellent recruiting tool
- Expedite payments to associates swiftly
- Pay unbanked distributors
- Easy purchases by associates
- Significantly reduce interchange fees
- Breakage on uncashed payroll or associated checks
- Maintain float on payroll or Distributor checks issued
- Profit on payments made to Distributors or associates
- Reduce costs associated with merchandise purchased by Distributors
- Settling payments outside the USA in Native currencies
- Easily pay international distributors earned commissions
- Pay less on the arbitrage in local currencies or receive the arbitrage
Loyalty Division
Learn more about our innovative loyalty and service solutions.
