One of the biggest challenges faced by brands today is the authentic on-boarding of channel partners (promoters, merchandisers, retailers, distributors) and proper disbursal of incentives into the right bank accounts in proportion to the targets achieved. Many a times, the Channel Partner’s identity or the store location itself is imitative with little to no checks on monthly attrition. This often creates issues such as funds not reaching the right channel partner and unclear payment turnaround time, making the entire process haphazard.
At AccountMein, we make the entire process from on-boarding of channel partners to incentive disbursal and payment compliances and reconciliation seamless and effortless. We offer an extremely comprehensive payment service that allows companies to run a channel loyalty program without any risks. A company can run a channel program for 100 to 50,000 channel partners and be assured of KYC and verification, direct payment disbursement, video bot communication, and compliance management by a single partner - AccountMein – our in-house B2B channel payments application.
AccountMein has the best in industry Optical Character Recognition-based KYC technology solution that allows self-capture, and assists in the capture of KYC. Our PWA, accessible on any browser, is a self KYC platform agonistic for the most comprehensive KYC collection process. The process is initiated by the Sales Officer and reviewed by the individual store owners. Our PWA also enables seamless collection of UPI IDs as a part of KYC collection process along with a provision for bank details collection in case of unavailability of UPI ID. Upon filling the remaining details and OTP verification each individual KYC of the channel partners is successfully submitted with complete transparency.
After successful submission of KYC, the verification process begins. The entire verification is undertaken by our backend team and the process takes place in three steps. These 3 steps are –
1. Document Verification
All documents relating to channel partners that are uploaded are manually checked. Any mismatch is rejected.
2. Tele-verification
All verified is confirmed with DSR over call. Any mismatch or no response calls are rejected.
3. Bank Verification
A 1-rupee transaction is done to verify bank accounts and its validity for approved KYCs. Closure of bank account or mismatch in name leads to rejection.
Following this 3 step verification process, the submission details of the approved KYCs of salesmen or stores will be visible. The Sales Officer can then access or check these basic details. The rejected KYCs can also be viewed under the “rejected” tab. Here, only incorrect information needs to be updated. Once correct data is resubmitted, the KYC moves for verification.
By leveraging AccountMein, your brand can ensure seamless KYC collection and verification, accurate payment disbursal, and complete compliance management—all from a single platform. Our advanced technology eliminates the risks associated with onboarding and incentive distribution, providing you with transparency, efficiency, and peace of mind. If you're looking to streamline your channel loyalty program and safeguard your business against fraud, reach out to AccountMein today and experience a smarter way to manage your channel partners!
