WorldSIM is a SIM that saves customers up to 95 per cent of their mobile bills whilst they are travelling abroad. There is coverage in over 150 countries, and customers receive calls free in 55 of them.
Receiving calls in the EU is free, while it is 25p per minute to make a call within the EU, and text messages are 30p. This is compared with network rates of 17p per minute to receive a call and 38p per minute to make a call, even after the EU roaming caps came into place this summer.
Traditionally we focussed all our distribution efforts on the travel sector as our products worked very well for travel agents to sell as an add on to hotels and car hire.
Now with the launch of a new branded dual SIM handset range and our multi-IMSI SIM (that has both a UK and US mobile number), we think we can do extremely well in the mobile channel.
We are working with about 50 mobile resellers that we acquired over the past 12 months; half of them are B2B.
The main attraction of the product is that it can save substantial amounts of money for their customers. We offer dealers an opportunity to make money in two ways; one is that they can make a profit of up to 50 per cent when they sell the SIM.
We also offer a revenue share programme that starts at 10 per cent of their customers’ top ups. This increases depending on how much business the dealer does.
We have a live dealer portal where they can track their commission payments as well as offering marketing material for them online.
The commission appears instantly on the dealer profile on the portal as soon as the customer tops up. Once it reaches £100, or after two months, whichever comes first, dealers can be paid in cash or it can act as a credit towards a purchase of additional SIMs.
Dealers can top up customer SIMs via the portal and for B2B customers they could even rebrand the service under their own name, as part of a white label service we offer. They could essentially set their own prices; we offer our own retail prices but some B2B dealers want to charge different prices to their corporate customers and we allow them to do that.
If the corporate customer has a large enough spend B2B dealers can offer them direct invoicing. There is quite a bit of work involved in setting up direct invoicing and rebranding so it would have to be for customers who spend around £1,000 a month or more.
The roaming market is worth globally around £132 billion. A lot of our dealers were once end users and saved money so that’s why they became resellers.