If you are in the affiliate marketing business it is important to know the different payment methods to get paid from affiliate marketing. Here in this article, you will be able to know about 5 ways to get paid in affiliate marketing.
Those who are an affiliate marketer knows that the affiliate marketing is one of the best ways to earn money online. There is no educational barrier to be an affiliate marketer. A graduate, a master’s graduate or a college dropout can do this very easily.
Unlike other traditional transactions, affiliate marketing payments are automatic. whenever you signup for an affiliate program you have to give your payment details and you will get your monthly payments automatically without fail. This is the beauty of affiliate marketing.
If you are a beginner you have to choose a payment system for affiliate program to get paid or you are already in affiliate marketing business you might search for advanced hacks to save a lot of money.
This article is no doubt a very important resource for everyone who are is affiliate marketing business or just want to start an affiliate marketing business.
Fees and conversion rates
A lot of payment platforms are available, but you should choose one depending on lower fees and conversion charges.
Here is the chart of transaction fees of different types of payment platforms.
5 best ways to get paid in affiliate marketing
Here I have explained the 5 different ways to get paid in affiliate marketing. This comparison will definitely help you a lot to choose a correct payment method.
Let’s start one by one.
PingPong is one of the popular online payment platforms to receive international payments. It is used by Amazon sellers & affiliates, freelancers, and many other eCommerce sellers to get paid in affiliate marketing. The best features of PingPong is:
- Conversion charge is1% all-inclusive rate
- Marketplace and platform payout
- Manage multiple stores in one account
- No monthly fee
- 100% transparent – no hidden costs
- Hassle-free fast payments
- Safe and trustworthy
- Provides automated FIRC
Creating an account on PingPong is very easy and free. There is no additional charges and maintenance fee. It takes 2-3 days to confirm your account. So, apply for a PingPong account as soon as possible. They are expanding their reach by integrating with other affiliate networks.
Read more: How to get free Com domain for 1 year
Payoneer is another popular cross-border payment platform for bloggers, affiliate marketers, freelancers, and Amazon sellers to get paid in affiliate marketing. With Payoneer, you can receive commissions from any country from the company listed on their whitelist.
They provide solutions like,
- Local currency conversion
- Receive payment
- Pay VAT
- Receive digital FIRC
- Store manager
- Connect with the partner ecosystem
Payoneer is a good payment solution platform to receive affiliate commissions from different affiliate networks as they have integration with most of the popular affiliate networks, but the charges are 2%.
PingPong charges 1% for the payment received from different affiliate platforms. Thus now I prefer using PingPong as my primary payment solution.
PayPal is one of the most popular and largest payment solution platforms all over the world. And it is the most common and largely used payment method to get paid in the affiliate marketing. Most of the bloggers, freelancers, and international sellers use PayPal to receive payments. Most of the affiliate platforms use PayPal to make payments to their publishers.
You can use PayPal as an individual or for your business like,
- B2B payments
- Freelancer payment
- Website payment
The best thing about PayPal is there is no annual maintenance charge. Creating an account on PayPal is very easy and the account activation process is very fast. To get paid in affiliate marketing the first step will be to create an account on PayPal.
4. Wire transfer
Direct bank transfer is another method to get paid in affiliate marketing. You can use this method to receive large payments. Many affiliate programs offer direct bank transfer for affiliate withdrawals. But If you are from India then some points you have to keep in mind.
- Some banks charge a lot of money on inward remittance
- The conversion rate (ex. Dollar to INR) is high.
- Sometimes banks charge 3-5% per transaction
However there are a few solution you can apply.
You can open a current account and can negotiate the charges with your bank. This will help you to save some money. Or If your affiliate platform only supports bank wire transfer, then you can talk with your affiliate manager and ask him to pay your commission through PIngPong, Payoneer, or PayPal. this will definitely save a lot of money.
Stripe is another popular payment solution among bloggers, affiliate marketers, freelancers, and entrepreneurs to get paid in affiliate marketing. This platform is new and growing fast day by day.
A lot of companies are integrating with Stripe to pay the affiliate payouts to their partners. The best thing about Stripe is the charges are almost zero. So, you can save up to 100% by receiving payments through Stripe. Stripe is available in almost all countries.
- Online payments
- In-person payment
- Payments for platforms
- Subscriptions and invoicing
- Startup incorporation
If you are getting large amount of affiliate commission then Stripe is the best platform you can use to save more money.
Conclusion: Get paid in affiliate marketing
I have discussed 5 best ways to get paid in affiliate marketing in the above article. Now It will help you a lot to choose the best payment solution for you. If you have discovered more hacks to receive affiliate commissions at a cheap rate please let me know in the comment section below.