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.

Quality Personnel

Indicative minimum criteria to qualify as V2AGENT Agent

The Agent would have a solid history of delivering a quality service within the financial services sector, that complies with all the necessary government licensing credentials for that country
A suitable existing customer base (criteria determined by the Bank), which can immediately take advantage of the new products and services provided by the Bank, which may be in addition to the V2PAY products and services
Financially stable and able to commit reserve funds to underwrite and provide a range of products delivered by the Bank on prepaid terms
Have a clean trading history in the financial services industry including management and directors
Provide a copy of company financials and prove the financial capacity to operate as an Agent

Have the suitable existing physical locations that are in keeping with the Bank's brand
Be financially capable of funding the V2AGENT 3 year licence and maintenance fees
Must accept the charter of responsibilities and code of behaviour detailed within the tri-partied agreement

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