When an ad or affiliate network launches, it’s not unusual for there to be a limited number of payouts options offered to publishers and affiliates. After all, it’s complicated to launch a new network, and networks must attend to a myriad of other important issues. But, as a network grows, the importance of cultivating a happy and growing population of affiliates or publishers becomes apparent, making payments quickly rise to the top of the priorities list.
Adding more payment methods does take effort, but the results in terms of publisher and affiliate retention are well worth it. In a 2018 survey of global publishers and affiliates, Tipalti reported that 81.5 percent of respondents felt that offering multiple payment methods was important to ensuring loyalty.
“In our experience, it’s not uncommon for international recipients to request options like direct bank deposits,” says Keia Nouse, General Manager of Transpay. “There is an appeal to a payouts method that delivers funds directly to the recipient’s bank account, and the added benefit of being able to avoid additional fees.”
When asked by Tipalti to name their preferred payment methods, international publishers named bank deposits as their top choice, with 26.9 percent choosing “echeck/Global ACH,” another term for bank deposits. Second was “PayPal” at 21 percent, followed by “other” (19.4 percent), wire transfer (12.9 percent), paper check (12.9 percent) and prepaid debit card (8.6 percent). In fact, Local Bank Transfers were the number-one payment method that international publishers wished more networks offered, with 41.9 percent choosing “echeck/Global ACH.” Second on the list, at 33.9 percent, was “PayPal,” third was “wire transfer,” (21 percent), then “prepaid debit card” (17.2 percent), “paper check” (16.1 percent) and “other,” 15.1 percent.
What the survey results speak to is the importance of choice. As your business evolves and grows, your recipients will undoubtedly begin to request various payout methods. Why put your good relationship with your affiliates or publishers at risk? Offer an array of payout options and rest assured that you’re adhering to industry best practices when it comes to payout offerings.
To learn more, check out The Payments Method Global Advertising and Affiliate Networks Can't Live Without.