Article|Customer Stories

Simplifying Affiliate Payments For An Enterprise

Overview

As a leading technology business, the client has several popular applications in their portfolio, ranging from chat platforms to mobile games.

They came to us to resolve the difficulties their affiliate program was experiencing. In particular, making small payouts, sending payments across borders, and accessing underbanked regions. 

The improvements that Nium made to the clients existing affiliate management and payment system have made a world of difference. Affiliate satisfaction has increased, their program is more attractive, and paying affiliates is faster, cheaper and easier than ever. 

In the long run, these changes will drastically speed up the growth of their affiliate program, and user base.

With that said, the solution we implemented for this client can work for any business, regardless of industry.

The Challenge

To expand their audience and gain users for their applications, the client offers affiliate payments to influencers who promote their applications. When they refer a user, they earn a commission of around $25. The commissions they earn accumulate in their account and are paid out once a week.

Another challenge was that the affiliates are located all around the world, and many of them are in underbanked regions. As you can imagine, trying to organise payments to affiliates that didn’t have bank accounts was difficult and time-consuming.

Despite the challenges, affiliates were an essential growth tool that the client wanted to capitalise on. They were concerned that if they didn’t implement a better solution, affiliates would leave their program and join those of their competitors.

To keep their affiliates happy and ensure the long-term success of their program, the client knew it was time to upgrade their payment technology.

After talking with our team at Nium, we suggested that they issue physical and virtual debit cards to their affiliates rather than using bank transfers. By doing so, the client could provide affiliates with instant payments, reduce fees, and service underbanked regions. 

In case you’re not familiar, Visa Card Issuance allows businesses to issue virtual and physical debit cards to their customers. At the time of writing this, businesses who want to access this technology quickly must work with a Visa Card Issuance partner. 

Should they choose to integrate the technology themselves, the setup and approval process would take up to 24 months.

Fortunately, Nium is a Visa Card Issuance partner. By working with us, the client was able to shortcut the process and launch their card issuance program within 4 – 6 weeks.

Why They Chose Nium

The client chose Nium as it would allow them to take advantage of Visa Direct, issue branded cards to their customers, offer points and perks, access underbanked markets, and provide a better affiliate experience.

Nium’s solution would enable them to meet all their affiliate’s needs in one, company-branded platform. 

By switching to Nium, the client could overcome the limitations of their existing affiliate platform, such as:

  • Lack of control and customisation.
  • Difficulty of affiliate tracking and management.
  • Slow, expensive payments via bank transfer.
  • Inability to send funds to affiliates in underbanked regions.

In the long-run, overcoming these limitations would help the client to attract more affiliates, build loyalty, and acquire more users.

How Do Businesses Benefit From Nium?

As we mentioned earlier, Nium’s technology provides a range of benefits that have the power to transform your business. Here are some examples that benefited the client and can benefit your business too:

Instant Payments | Integrating Visa Direct means that the client is now able to send payments to an affiliate’s existing bank account or debit card, or to a debit card the client has issued. In an industry where payments take 5 – 7 days on average, this is a huge advantage.

Virtual & Physical Cards | Part of what makes Nium unique is that our platform allows businesses like our client to provide customers with branded debit cards they can use to send and receive payments. Better yet, Nium offers both virtual and physical card options.

Streamlined Onboarding | Unlike other providers, Nium is a Visa Direct Partner which means we can move from onboarding to issuing cards in 4 – 6 weeks, rather than 9 to 12 months. For businesses in a hurry, this is a key selling point.

Access To Underbanked Markets | For those doing business in regions where many locals do not have bank accounts, the ability to provide digital debit cards is priceless. In the case of our client, sending payments to affiliates in underbanked regions is now effortless.

Enhanced User Experience | Implementing Nium’s technology enabled the client to enhance the experience of their affiliates. Getting a card is as easy as clicking a link the client sends them. Once they’re set up, affiliates can see their transaction history, balance, and access useful reports and merchant tools.

Superior Security | Nium allows businesses to manage their program’s security in one place, including card lock/unlock, geolocation data and cardholder permissions. 

 How It Works:

  1. Setup: After integrating Nium, businesses can set up and define their program using limits and controls.
  2. Share: Once the program is complete, affiliates can sign up for accounts and be issued cards.
  3. Reward: Each time an affiliate refers a customer, they’ll be rewarded with perks and points. 
  4. Payout: Businesses can set how often their affiliates are paid from the options available. 

More About Nium

Nium, formerly known as InstaReM, began in 2015 to simplify and optimise the financial processes of corporations. We eventually scaled the offering to serve SMEs and businesses in all industries.

Today, Nium utilizes radically innovative technology that makes sending, receiving, and managing money faster, cheaper, and more transparent. It’s designed to integrate with our client’s business, regardless of their unique needs.

We have experts on the ground working with local regulators and financial institutions. With offices worldwide, we are in a position to foster these relationships.

Connect With The Future of Payments

Contact us at enterprise@nium.com to learn how Nium’s cutting-edge payment technology could transform your business.

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