Quite a while ago I wrote a post responding to one of our most frequently asked questions at HasOffers. “How do I make affiliate payments?” In that post I talked about services like Payoneer and Payquicker and how they make the process quicker and cheaper. There are definitely a number of other ways to do it, but it really depends. Wires used to be the only real way to make payments to your international affiliates, and though they’re effective, they certainly aren’t the most cost efficient solution. Realistically, only affilaites doing quite a bit of volume can make it worth while. Well today I’m going to bring up Payoneer and PayQuicker again to talk about what they’ve done to make international payments a piece of cake.
Local Bank Transfer Service by Payoneer This month we chatted with Aryeh AltShul from Payoneer touched base with us this month to tell us about a new service they’re providing. It basically allows affiliates to receive payments in their local bank accounts in their local currencies. Some notable countries/currencies they already support are the United Kingdome (GBP), France (EUR), Canada (CAD), Israel (ILS), and many others listed here. Affiliates can actually signup now and get started on this new program by logging into their Payoneer account and clicking the Worldwide Bank Transfer Service.
Payoneer is definitely upping the ante considering previously affiliates could only receive payments on their prepaid MasterCards. They’re claiming it is faster than wire transfers and checks, funds go directly to local accounts in local currencies, and no maintenance fees. A quick look at the pricing does show that costs are less than wires considering they range from $5.95 to $9.95 per transaction (depending on the country).
The PayQuicker Approach On the flip side, PayQuicker has a someone built in solution that accounts for foreign affiliate payments in a different way. Essentially, affiliates signup for a PayQuicker account and Advertisers and/or Affiliate Networks send payments directly to that account. The affiliate then chooses how they would like to receive the funds and bears the cost of that payout method. They can choose wires, ACH/EFT, transfer to their local bank, or credit their prepaid VISA card to receive funds in their proper currency. Thier solution is definitely worth checking out.
When it comes to price, you can check out PayQuicker’s fees and I also noticed a pretty interesting Savings Calculator for figuring out how much you would save on current transactions if you were using PayQuicker.
Like I said in the previous post on affiliate payments, both of these payment providers are integrated with HasOffers, so getting set up is pretty simple. This won’t be the first time their reps have walked someone through the process. Plus, we’ve referred both of them to many clients and haven’t had any negative feedback.
Anyone else have some interesting ways to make international affiliate payments? Feel free to share in the comments.