Extend into new markets
The V2AGENT System enables a Bank to organically expand into existing markets or rapidly develop new markets in new territories. Existing Money Transfer Operators (MTO) and Telcos are prime candidates for becoming V2AGENT representatives, where they act as an Agent for the Bank under a 3 year licensing model. This licence model allows the Agent to resell a range of Bank products and services, under the Bank endorsed brand.
This enables a Bank to cost efficiently gain a distribution presence and footprint in new markets whilst providing for the Agent the credibility of the Bank's brand. The benefits for the Agent include a range of additional services that the Agent can offer their existing customer base. This strategy significantly compliments the Agents' core product offering and an expanded revenue stream through incremental product offerings.
Authorised V2AGENTS are selected based on the qualifying criteria of the Bank. The V2AGENT system enables these new Agents to access the internal systems, controlled by the master licence holder, which delivers process improvement and efficiencies to the Agent and a cost effective way for the Bank to rapidly enter new markets.
An approved Agent would sign for a minimum of 3 years under a tri-partied agreement between the operating Bank, V2PAY Group and the license holder.
Indicative minimum criteria to qualify as V2AGENT Agent
The Bank undertaking the Agent model has the final say in approving the Agent to represent its' brand under strict operating terms.
V2PAY Group products that may be offered to approved Agents could include