Tourism Breaking News
Bengaluru-based BuyForexOnline has launched a new B2B forex platform for travel agents and education consultants. A pilot launch in Bengaluru saw more than 250 agents registered for the platform. The Total Agent Module (TAM) allows agents to effortlessly 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, leaving the agent free to focus on their core travel competencies.
The platform will now be rolled out across India to primarily target SME travel agents and student consultancies specialising in overseas education. Ananth Reddy, Founder and Managing Director of BuyForexOnline says, “Forex in the B2B space is a largely disorganized 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.”
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. An in-depth report can be viewed on the 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.
