Network Marketing Applications
Wave Crest Customized Pay-In and Pay-Out Applications
Wave Crest offers a suite of highly secure payment products to enable Network Marketing participants to be paid --"pay-out" software programs-and purchase network products at wholesale and resell at retail -- "pay-in" applications. Network participants and the selling hierarchies to which they belong can be organized by region and currency, facilitating commission payments to them in multiple currencies. In addition, Wave Crest deploys point of sale software applications so the company can price products to distributors in the distributor-appropriate currency and take payment in the distributor's home currency. Wave Crest can also facilitate payment acceptance for distributor's that are buying at wholesale and then re-selling direct to customers.
Commission "Pay-Out" Applications
Commissions for Network participants can be deposited on to a Payment card account in the participant's home currency. The participant can enroll for the card account at the time of registration into the Network Marketing program. Information is captured at the time of issuance through B2B or modified B2C web interface applications that Wave Crest can deploy on behalf of the Network marketer, or Wave Crest can integrate its applications into the Network Marketer's legacy applications.
A virtual card account is opened immediately for the Network participant and used for commission deposits, while the permanent personalized plastic card is being fulfilled. Participants can accumulate commissions on the card account, use the virtual card for online and mail order/telephone purchases -- and then use the plastic card for purchase and cash access at face to face locations wherever Visa or MasterCard is accepted. Reloading commissions to the card account can take place as long as the distributor and the account is in good standing.
In this industry, being able to provide commission detail is a key to distributor satisfaction. They want to be sure that they are being paid not only for their own sales, but also for their downline organization of distributors. Wave Crest can integration detailed transaction descriptions of the commission deposits into the transaction history available to each participant either over the web, through the IVR or through the Customer Service Agent interface.
"Pay-In" Applications
Successful distributors often earn incremental profits by retailing products they have purchased from the Network Marketing company at wholesale prices. These distributor/re-sellers can use the funds on their Commission Pay-Out cards to purchase the goods from the company. In this case, the card can make either a closed-loop purchase, or an open-loop purchase - depending on how the company's retailing website has been set up. Wave Crest can assist the company in customizing its point of sale system to offer both open-loop and closed-loop options, and also be able to re-price and authorize merchandise sales transactions to the distributor/re-sellers in the re-seller's home currency. Wave Crest provides the proprietary technology for these hybrid "open-loop" and "closed-loop" card applications.