Companies in this current economic climate want to reduce costs and streamline operations. This proprietary process provides that! Companies in this current economic climate want to reduce costs and streamline operations. TransWorld Benefits International Inc. dba7G Companies, a publicly traded Southern California company, has an integrated system that will revolutionize how network marketing companies pay their distributors and process payments from their distributors. Most companies pay distributors with checks and some with debit cards. 7G Companies, through certain strategic contractual relationships, offers a prepaid card with a distinct difference utilizing our proprietary process. The card offered is very competitively priced and will save the company money on issuing checks and all the associated costs. The distributor is issued a MasterCard branded card that can be used anywhere MasterCard is accepted which is very valuable especially for unbanked distributors. NULL
This is nothing new or different. However, because of our proprietary process, this means the company will pay a transaction fee that is less than if any other credit card is used, representing a significant savings for the company.
The result is a reduced cost over issuing checks, a convenient and valuable card for their distributor and a savings in processing costs.
7G Companies, again through strategic contractual relationships, also offers a unique processing solution for companies with international business. Many companies have a challenge with settling funds in the currency of the country where they are doing business. This can be very costly in terms of currency conversion rates. 7G Companies are beta testing a system, in conjunction with a strategic partner, to offer the ability for a company to process cards in most countries and settle in the local currency representing a huge potential savings. Some network companies do not like issuing prepaid cards because the bank retains the float on the money, the use of any unclaimed funds and because their distributors have to pay a monthly fee for a card. Prepaid cards are fine in the United States but how about a company with international business? 7G Companies has a unique solution. They create a commission account for the distributor with the company, where the distributor gets paid but the money stays in the company’s account and the distributor does not pay a monthly fee, only a transfer fee when they move money to their bank account. If the distributor uses the money on their card to purchase product, the company will save 50% or more on their processing fees. This system works locally and internationally and will allow a company to pay all of its distributors the same way regardless of the amount of compensation per cycle. With each of these services 7G Companies offers costs savings and convenience, resulting in increased profits.
- A new paradigm for network marketing companies by Charles C. Seven - December 1, 2009