What is "PM for business" tool offered by Perfect Money? How does it work?

As we already announced at the end of April an online payment system Perfect Money launched a new instrument for ecommerce partners to make their business more profitable. The new service known as ‘PM for business” aims to help its corporate clients build a loyalty business model that, as Perfect Money puts it, comes to the following formula: “quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability.” We decided to pay closer attention to this new tool and review its main features.

Thus, under the “PM for business” project the company offers businesses a choice of seven different programs for which they can subscribe from their accounts. Let us take a look at each of these programs in detail. These options include:

1. A reward to a partner of Perfect Money or a discount to the partner’s customers. Within the frame of this program PM computes the reward using formulas created for each project separately. Rewards are calculated every month, thus in the end of each month partners get a bonus varying from 0.5% to 5% of a monthly turnover. It allows merchants to offer their customers bonuses when they make payments through Perfect Money payment system.

In order to help its partners to get a more specific picture of how it will happen Perfect Money provides this example: “During a month your clients have transferred $10,000 to your Perfect Money account as a payment for some services rendered. You also made some transaction in your account and sent several transfers totaled $100,000. Besides all those things the number of transaction in your account has reached some definite limit. If Analysis Department judging on the turnover, service costs and the number of transactions of your business sets a 2% bonus, you will get 2% of $110,000 to your account, i.e. your bonus will be $2,200.”

2. A reward to site owners with logo of Perfect Money. Owners of the websites that are more or less related to ecommerce, digital currencies, economics or finance can place the logo of Perfect Money on their pages and earn their profits. A business partner needs to place a 150x75 sized logo of Perfect Money and link it to the site of the payment system.

The payments under this program are calculated according to the formula: $20 x PR rank of a website. According to PM’s rules each site is considered individually and the PR rank of a website should be 2 or higher.

Perfect Money explains: “You have got a site with a high traffic. Your site has, let's say, PR = 5. To participate in this program you need to file an application. If administration approves your application you will need to place a 150x75 logo of Perfect Money on your site and let us know. Once the logo is put on your site you will be paid a bonus calculated as follows: $20 x 5 (since PR of your site is 5) = $100.”

3. Individual referral system for Partners of the system. Perfect Money’s partners who have integrated API Merchant of PM into their sites may apply for the participation in the Luxe Affiliate Program.

In order to become a participant of this referral scheme a business needs to submit an application and place promotion materials of Perfect Money with their referral link. According to Perfect Money the Luxe affiliate program takes into account all nuances of a business. Thus the system considers the following characteristics:

• Monthly balances of your referrals

• When the balance of referral reaches the amount set

• Number of transactions conducted by referrals

• Number of referrals referred by your referrals

The example of how this project works is as follows: “In this program you may get various bonuses from the balances of your referrals depending on parameters you choose. So, let's say, the administration of Perfect Money has set you a 3% bonus of the balances. It means that at the end of the month the company will calculate all the balances of your referrals and pay you your interest. E.g., the total amount of all minimal bonuses is $50,000. So when the month ends you will get 3% of $50,000 that is $1500.”

4. Free implementation of API Merchant or a consultation with providing a detailed solution. This program allows all Perfect Money customers to get an assistance of the company in implementing their API Merchant absolutely free of charge.

In order to qualify for the help a business partner needs to file an application. Besides, the corporate client should write all the questions he/she has on implementation of API Merchant.

It works this way: “You have installed an API following all the instructions but during the test an error in payment occurs. In this case you may apply for free connection of your site to PM for Business, and as soon as we process your application our manager will contact you to speak about your site and to help you to install API for free.”

5. A bonus for a great number of operations in a Perfect Money account. If a business applies for this program his/her activity in a Perfect Money account will be traced carefully and rewarded according to the specified scheme. PM says that if an account shows a great number of transactions then it will be definitely rewarded.

In order to qualify for the rewards under this program an account should reach a stipulated limit of transactions. Thus accounts are rewarded according to the following schedule:

• 10 transactions - $0.01
• 100 transactions - $10
• 1,000 transactions - $50
• 10,000 transactions - $100
• 100,000 transactions - $1,000
• 1,000,000 transactions - $10,000

Example: “You constantly conduct some money transfer operations on your site. So, for example, in 5 months of an active operation with Perfect Money you have made 10,000 transactions. When the month during which the quantity of transactions reaches this number, you will get a $100 bonus, since you have passed the level of 10,000 operations.”

6. Reward to business projects with large amounts in their accounts. This program is intended for the businesses who frequently deposit large amounts to their Perfect Money accounts. These clients may file an application and in case they are found eligible to participate in the program Perfect Money will pay them according to this scheme:

• 1,000 - $1
• 10,000 - $10
• 100,000 - $50
• 1,000,000 - $100
• 100,000,000 - $10,0000

Example: “You have deposited $50,000 to your account by bank wire transfer. In addition to it during the month your clients have also transferred you $30,000. And you have transferred $40,000 to your partners. So, the turnover in your account is $120,000. Participation in this program allows you to receive $50 upon reaching the transaction level of $100,000. Thus when the month ends you will get a $50 bonus.”

7. A discount coupon system to enhance the number of customers. In order to participate in this program a client fills and submits an application. Once he/she is accepted to the discount coupon system a business can arrange different incentive promotions of his/her own using a discount or bonus coupons issued by Perfect Money. Still, a coupon is granted only in case the volume of transactions in the business client’s account reached the definite level.

Perfect Money says: “Well, let's imagine that you want to motivate your clients to buy some definite service on your site. This can be reached by using our discount coupons after getting involved in this program. If you participate in the program your clients when paying via API merchant will see a special form for entering the coupon code. Entering the code of the coupon, which you give to your clients in the frame of some marketing campaign, your client gets a discount, the amount of which you may set individually for each coupon. This service will surely become popular with your clients since they will get an opportunity to purchase goods and services at a discount. And the owners of businesses will get the loyal clients in turn.”

While it is up to you to decide whether it is worth to participate in the programs offered in the “PM for business” project it is definitely true that Perfect Money is not standing still and while there are much things to be done yet, the system is progressing and we can see that it is doing something to prove its ambitious statements.