Bengaluru based BuyForexOnline has announced the launch of a new B2B forex platform for travel agents and education consultants. The Total Agent Module (TAM) allows agents to place forex and remittance orders for their clients. The additional burden of sales, payment, delivery, escalations and customer support is then completely handled by the BuyForexOnline team.
As part of the pilot launch in Bengaluru, more than 250 agents have signed up for the platform, which will now be rolled out across India to primarily target SME travel agents and student consultancies specialising in overseas education.
“Forex in the B2B space is a largely disorganised sector with agents ordering forex for their clients through multiple offline channels, often requiring additional resources both in time and manpower for coordinating the transaction. This becomes challenging, especially when it comes to determining rates, arranging for delivery, and collecting payments. TAM was launched to address these challenges and to streamline the process. It is an easy lead-generation tool, and once the lead is triggered, the BuyForexOnline team then takes over and contacts the client to close the lead.’’ said Ananth Reddy, founder and managing director, BuyForexOnline.
“The key advantage of TAM is that the lead is mapped to the agent, and their commission is automatically captured by the system even for all subsequent transactions by that client – giving a substantial additional revenue-stream to the agent. An in-depth report can be viewed on our system by the travel agent to monitor their commissions. Our rates are the lowest in the market, and travel agents are free to add-on a further margin for their clients, which will be protected for them.” added Reddy.