Transit Account Features
From Net2MAX
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1. Transit Account Features | |
Contents |
1 Introduction
Transit Account is an unified online account that gives Net2MAX Members better control of their finances by providing intelligent payment management services that assist in maintaining the member's different online accounts on behalf of the user.
Besides paying their Net2MAX Centre for net2MAX platfrom related services, members can also use Transit Account to pay other Net2MAX members. Either for their Net2MAX charges on behalf of the other members (e.g. a company paying for its employees' net2MAX services from a centre account) or for other members' own products and services (e.g. purchasing products from a member's online shop).
2 Centralised Account
If the member is using the Transit Account to pay for his own Net2MAX services ONLY then the Transit Account works just like a normal prepaid account. There is a single-step process of making payment to the account - nothing more to do.
- Net2MAX Members use money to PURCHASE Transit Account Credits
However, if the member is using Transit Account to pay into OTHER members' accounts then it is two-step process:
- Net2MAX Members use money to PURCHASE Transit Account Credits
- Net2MAX Members TRANSFER Transit Account Credits into another member's Transit Account
Members put money into their Transit Accounts by PURCHASING Transit Account Credits through their Net2MAX Centres (which has a large number of different payment methods).
Like standard prepaid accounts, putting money into a Transit Account, that is buying Transit Account Credit, only commit spending those money with the member's Net2MAX Centre. It does not commit the member to transferring the credits to any other member's account (say to pay for different products and services).
The Net2MAX Centre allows the member to transfer excess credit with it to other member's accounts, but it does not know nor care about nor is responsible for such transfers.
Payment to Net2MAX Centre
The credits in the Transit Account are committed to and always available to pay for products and services from the member's Net2MAX Centre.
The transit account operates just like a normal prepaid phone account.
Payment to Member Accounts
Excess credits in the transit account can be transferred into other member accounts.
Through the transfer operation Net2MAX Members can paid for other members' Net2MAX charges or purchase products and services from other members.
3 Track Record of Trust
The Net2MAX team (e.g. OZtell) has been operating solid prepaid telecommunications business since year 1997 and has a sterling record with government consumer protection agencies from the start (e.g. Australia Telecommunication Industry Ombudsman).
Net2MAX Centres are all established (more than 2 years) and approved telecommunication services providers in their country.
4 Maximum Control
With Transit Account users can define exactly when they want to pay a bill and also by how much. This is especially useful for prepaid accounts. Net2MAX automatically monitor the balance of an user account once it drop below a certain point more money will be transferred to that account.
Also, some company may not accept some form of payment. In this case with the Payment Conversion option the user can use the Transit Account to convert between the two payment methods (e.g. from credit card to cash).
The timing of Purchase and Transfer transactions is controlled by the Net2MAX Member.
The member can initiate those transactions on demand (as required) manually or the member can set up automatic rules so that Transit Account can automatically perform those transactions based on certain criteria that the member has set up.
4.1 Logs
Details transaction logs are available on the movement of Transit Account Credits.
When a member pays an Online Account, two transactions will normally incurred. A positive transaction during the Purchase step that will INCREASE the number of Transit Account Credits and the a negative transaction during the Transfer step that will DECREASE the number of Transit Account Credits.
As more organisations increase their online presence, it becomes more difficult for the online user to keep track of all the activites with different organisation.
Centralised Details provide a single place where online users can go to track their online activites with different organisations.
4.2 Refunds
Currently, refunds are NOT supported by Transit Account.
Net2MAX Partner can perform refund by paying a Net2MAX Member directly using some other means (for example, cheque, credit card etc.) or they can increase the credit Net2MAX Members have in their own Partner Accounts.
5 Net2MAX Partners
A lot of small business do not have a lot of different ways of collecting money. By using the Payment Manager's Distributed Collection function, they can make use of Net2MAX's large number of payment options to collect money.
A lot of business are aware of the high risk of collecting payment from their web sites or phone sites. With Payment Manager, Net2MAX guarantees the money they receive.
For the payer, sometime they do not have access to a credit card or do not want to use credit card for a remote purchase on a web site or a phone site. Payment Manager allows then to pay in other ways (e.g. like cash or cheque via banks and post offices).
Distributed Collection is free to the payer and charges the payee a fee based on how expensive it is to collect money from a particular payer. The fee is called Payment Ratio.
5.1 Collect from Members
5.2 Collect from Public
Although the Transit Account is used to collect money from Net2MAX Members, it can also be used by the Net2MAX Partner to collect money form the public (who are NOT Net2MAX Members). For example, for their online shops or for their mail order businesses. Please contact Net2MAX Limited for this special option.
Once an Online Account is set up, Net2MAX Partners can accept transfer of Credits from different Transit Accounts in return for providing products and services to the respective Members or Public.
6 Rapid Join
Transit Account has a rapid join function which allows a public to open a Transit Account (thus also become a Net2MAX Member) with their phone number in minutes.
