Billion $ Direct Sales health drink company fuels global expansion with i-payout
Expand globally from 11 countries to 21 in one year without establishing a direct physical presence and banking relationships in each new market. To achieve this, the business required an integrated solution to pay distributors and to receive payments for their products. Before i-payout, the company was requiring infrastructure investment in each country before entering the market.
Although the company evaluated several “global” banks to meet their needs, they realized they would have to build a system to manage these banking relationships. They decided this was too complex and beyond their scope. i-payout provided the necessary banking infrastructure and flexibility to meet the company’s requirements without the need for local infrastructure investment.
The CEO commented that, “i-payout had the expertise, the global banking relationships and the desire to customize the system to meet our global needs.” He continued, “While the financial institutions could supply a banking relationship in each country, they were unable to supply the coordinated network that we needed. i-payout had the systems to deliver payments to all of our distributors through the same banks that we interviewed while providing that single interface to our systems to coordinate and oversee banking for the company.”
i-payout enabled the company to add several new countries to its growing global footprint. They have now embarked on a new growth path for expansion. i-payout implemented:
- i-Bank system to enable commission payments to distributors and to receive auto-ship payments through the same eWallet portal using commission paid or money added from their bank accounts or credit cards;
- While the company had merchant accounts in every market, i-payout supplied a global account and a coordinated payment gateway for all credit card transactions so the load could be balanced and a blended rate could be applied across all countries;
- Distributors were given a company specific eWallet they customized to their own specific requirements:
- Attached their bank account(s) for transfer of earnings out and the payment for new products, as required;
- Make payment on the eWallet with their credit card and can also move funds from their eWallet account to the credit card using the i-payout Visa/Mastercard transfer option;
- Mobile interface so that payment notifications can be received on either a cell phone or internet connection.