Given our close-to-zero marketing budget, the Reseller program could be considered our main marketing tool. That's why we are constantly looking into improving the experience of our resellers and optimizing their operations. Following this goal, today we extended the Overdraft feature specifications, so that it is now enabled for a greater number of our resellers.
The Overdraft in the Reseller Panel allows resellers to purchase and renew services without submitting a payment through a payment processor immediately. Instead, they are able to pay using the allowed overdraft until the overdraft limit is reached. Once a month, the reseller can cover all purchased services with a single transaction. The Overdraft is not a financial feature - there are absolutely no interest rates, taxes, or fees involved. The mere purpose of the Overdraft feature is to allow resellers to purchase services faster, without requiring an immediate payment transaction for each order.
So far, the Overdraft feature was used by a small number of our larger resellers. As of today, the allowed overdraft is calculated for each reseller individually, according to a dynamic formula based on the number and type of their active hosting accounts. Generally, the more accounts a reseller has in their panel, the greater the allowed overdraft would be. All resellers who are entitled to an overdraft of more than $100 USD, now have the Overdraft feature visible in their Account Balance section, and they can use the overdraft as a payment method.
The extension of the overdraft availability amongst more resellers also allows us to lower our transaction costs, due to the smaller number of transactions involved. Every business is usually interested in lowering costs and optimizing performance, and we are no exception to that. Of course, there are certain areas in which we would not look into cutting costs, such as our server hardware, network connectivity, or personnel costs - these are the areas that have direct influence on the level of our service. However, when it comes to transaction costs, any available resources spared would simply be directed to other more vital areas, as the ones mentioned.
The Overdraft could be very useful along with the Online Stores feature in the Reseller Panel. As a reseller, you can set up an online store on your website linked to your reseller account with us. Then, when a customer submits an order and a payment to you on your website, the order would be received in your Reseller Panel, and automatically processed by us using your overdraft as a payment method. Thus, your customer would receive their service immediately, at any time of the day or the week. You just need to check your reseller balance regularly, and cover the outstanding amounts when needed. You can check the Reseller Panel documentation, as well as contact us, for more information on how to set up your reseller website. This setup could work for any reseller, even without an enabled overdraft, by simply topping up the account balance when necessary.
We hope that the overdraft availability will help our resellers with the expansion of their business.