Aug 24 2007
Affiliate Speedpay
Actually getting paid is something that has caused many an affiliate headache over the years and although recently there has been some improvement things could still be better. I know at least one network is working extremely hard on getting ready to offer a very speedy payment after the end of month but I was also really interested in a new platform called Affiliate Speedpay.
Affiliate Speedpay is a free online instant account combined with a Visa debit card. The idea is that instead of an affiliate program or network posting out a cheque or sending a bank transfer they can just send the payment straight to your Affiliate Speedpay account and it arrives there the same day where you can then spend direct from the debit card or transer to a normal account.
I think it’s a good idea but will be most useful for the independant programs or networks & programs which are based abroad. Most of the main UK networks now have BACS in place and I don’t see too many advantages at the affiliate side although I know that a BACS run can be difficult for networks.
However it would definitely come into it’s own by making it simple for UK based affiliates to open up accounts in other currencies i.e. $ or euro and to get payments paid to their Speedpay account. I think it all hinges on actually getting the networks and merchants signed up and I know that is being worked on now.
Good luck to the guys behind this project. It’s nice to see a little innovation and know that companies are looking at new ways to solve problems.
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Aug 24th, 2007 at 2:06 pm | #
So long as this is offered alongside BACS, I would be happy. I wouldn’t want to use it as it seems more work for affiliates in the long run. I’m happy with BACS.
Yes, I acknowledge that there’s a speed difference but I would rather sacrifice a few days using BACS than a few more using this system (I wouldn’t use the Visa card).
This page - https://www.affiliatespeedpay.com/MyAccount/HelpNL.aspx?c=help.fees - is interesting as it lists the fees. Apparently it’ll cost around £8 to transfer money between this and your bank account. Ouch.
Also, I can’t find any FSA information which means this is a highly risky website as there’s no FSA approval. Essentially this site is like PayPal, the only difference being that PayPal have FSA backing.
Aug 24th, 2007 at 3:10 pm | #
Hi David,
I work for the ASP team.
Thanks for your comments.
I appreciate that BACS is best for you, however ASP is more targeted at international Affiliates or international networks and programs that are currently not paying through BACS.
Although Affiliate Speedpay appears similar to Paypal it has a major benefits, in that you do not have to transfer your money out (as you do with Paypal). with the ASP Visa card you are can withdraw your funds as soon as it arrives or use it to pay for online advertising or even in the pub.
Also Affiliate Speedpay is not an e-wallet instead it offers affiliates an account at a International Bank based in Europe and therefore is highly regulated under EU banking laws.
Hope this helps.
Please let me know if you have any more questions.
Thanks
Richard
Aug 24th, 2007 at 3:51 pm | #
Richard,
I’m certainly not knocking your efforts - I’m just trying to put them in perspective.
For those of us who are savers, transferring to a bank account is better than the debit card option, though I acknowledge that this will appeal to spenders.
PayPal Europe are based in Luxembourg and are still registered with the FSA as per https://www.paypal.com/uk/cgi-bin/webscr?cmd=p/gen/fsa-outside
I do wish you the best of success but as you say above, I think “ASP is more targeted at international Affiliates or international networks and programs that are currently not paying through BACS.” Get Clickbank on your side and you’re onto a winner!
Aug 24th, 2007 at 4:17 pm | #
Thanks David,
We appreciate your support and we value all comments and feedback.
We certainly would love to get click bank on board!
Aug 24th, 2007 at 4:18 pm | #
Thanks David,
We appreciate your support and we value all comments and feedback.
We certainly would love to get Clickbank on board!
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