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 affiliates 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.
Author
A digital marketer by background, Peter is the former CEO of TUNE, the enterprise platform for partner marketing. In 2018, he sold TUNE’s mobile measurement product to Branch, unifying measurement and user experience. He led TUNE’s efforts to bring better management technology and automation to marketing partnerships, across affiliates, influencers, networks, and business development relationships. Follow @peterhamilton
If you send a lot of wires, ask your bank if they offer discounts. Sometimes they will have you pay a monthly fee of around $20 – and your cost to send each wire will be cut in half (this is the case at my bank).
definitely. developing a personal relationship with your bank can make a huge difference. Even so, the wire costs can be pretty high.
How do you completely miss ATMCash.com?? They’re the best for U.S. –> foreign country payments, especially if you have an ongoing relationship with an affiliate or contractor. Their fees and customer service is 2nd to none! 🙂
I hadn’t heard of them yet. Thanks for bringing them up. Do they also have an API for integrating platforms like HasOffers?
Hi All,
It’s Aryeh from Payoneer – If anyone has any questions about the services we offer please don’t hesitate to contact me. We have a really great integration with HasOffers would love to show you how we can save you time and money making your international payments. Thanks for the blog post Peter.Best,Aryeh aryeh at payoneer dot com
We just started using PayPal MassPay.
@twitter-15908042:disqus – thanks for chiming in 🙂 You guys are doing a great job over there.
@3fd8c550190cbb77d0cd613c1fb21bb8:disqus – Are you using the@hasoffers:twitter export on the “Invoices” page to upload to PayPall MassPay? http://www.hasoffers.com/wiki/Support_Questions:Is_it_possible_to_make_a_mass_payment_in_Paypal How is the pricing working out for you?
Hi Peter, I am a little late to the discussion here, but I came across your post and it was the most informative by far.
My Question: The money transfer seems pretty straight forward, but what about income reporting for other countries? Do you happen to have any insights?