The motivation behind any affiliate scheme is commission. Receiving a commission for generating leads or sales for a good or service that you did not develop yourself is known as affiliate marketing. Hence, affiliate marketers are encouraged to constantly promote their links to generate more sales when they receive their payout swiftly without any hassle.

How should you pay your affiliates? This is one of the most crucial aspects of affiliate marketing. Unfortunately, affiliates frequently cease working with affiliate networks due to payment problems or end their contracts due to inconsistent payments.

In addition to finding it difficult to reach a larger audience, the problem of payment mode was another challenging hurdle I had to overcome when setting up an affiliate network for my brand.

Many social media influencers and other marketers decline my offer because of bad past experiences collecting their commissions.

However, as much as affiliates complain about payment mode for their job, as a business, I incur some losses paying affiliates across different regions.

For example,

• There are different international payment regulations to abide by.
• Some affiliates prefer a particular payment mode over others.
• And currency and exchange conversion vary.

These losses are at the detriment of the brand. As a result, the turnover from affiliates has been on a decline. However, there are several payment methods that I tried out, and I still didn't get the optimal result from them.

Traditional Payment Methods for Affiliates

Several factors are always considered when paying affiliates, including their location, payment method, and exchange rate. But, the location of my affiliates was the most critical concern because some payment options are specific to the area. Unfortunately, my best sales return affiliates fell into these categories. As a result, most affiliates feel they don't get their deserved revenue due to the various conditions surrounding the conventional payment system.

So, here are the different payment methods I have used.

Paypal

Paypal is an online payment platform that ensures the transfer of money between individuals and businesses. It is one of the most used payment options for affiliates as it supports multiple currencies and is available in most countries. However, this payment platform has flaws, as it is at a disadvantage to me and my affiliates. For example,

• I need to link a bank account or a credit card.
• There are too many restrictions on payment in certain countries
• Affiliates are charged a percentage of the transaction value as a transaction fee for receiving payment, up to 3.4%.
• Relatively high transaction costs for cross-border payment (which vary depending on the country of the affiliates)
• Lower exchange rates compared to local banks of affiliates.

Finally, some affiliates had their account frozen; nothing could be done about it with the funds in it.

Paxum

Paxum is a payment provider that enables its users to send and receive payments globally using various options. Paxum is designed to meet affiliates' demands, especially for those who sell traffic through pay-per-view or pay-per-impression.

Even though paxum has straightforward fees, affiliates must request their card to withdraw money paid to the account. Unfortunately, the prepaid card's yearly subscription costs $44.95, which takes some time to arrive. In addition, Paxum costs $6 and 3% of the transaction amount if you want to withdraw to an external wallet. I had to create a business account to use the Paxum service as an affiliate program. So, after taking all of these things into account, I choose to try another payment method.

WebMoney

WebMoney is an e-wallet that allows you to make online payments. However, Webmoney is only available in Eastern European nations. As a result, affiliates from outside the region cannot use it. Also, international payments are limited to USD and EUR, and affiliates must have a WMZ account to use the platform. Webmoney also charges a high commission rate for e-wallet transactions.

Skrill

Skrill is a digital wallet service provider specializing in online payments and money transfers. Skrill is popular among affiliates because of its low costs and free charges on account deposits. To make a transfer, you are charged 1.9% of the transaction value, which varies based on the country. As a result, when funds are transferred to affiliates in other countries, Skrill imposes a 3.99% currency conversion fee. Unfortunately, as these fees accrue, they consume a significant portion of my company's finances.

I experimented with crypto to pay my affiliates!

So, even after experimenting with various payment methods, I still had problems keeping my affiliates because of the transaction charge spent to execute the payment and the reduced value received by affiliates. Therefore, after researching ways to solve this payment challenge, I discovered cryptocurrency, which emerged as a solution to traditional finance's challenges, of which cross-border payment is one.

I realized that I could quickly implement blockchain and cryptocurrency technologies to build a borderless payroll system and pay my employees instantly! Furthermore, all of this is done without the limitations that make the traditional payroll system difficult to use.

After some research, I figured out that I could use crypto to pay my affiliates instantly and safely. It would be an easy payment method I could use for payments globally!

All this without worrying about the limitations that make the conventional payment mode difficult to use. And because of crypto's decentralized nature, I didn't have to worry about gaining the legal right to establish a payment in countries where I have my affiliates.

So, after finding cryptocurrency to be the best solution to my payment problems, I started looking for initiatives to grow my affiliate network and pay my affiliates without incurring additional expenses for either my company or theirs.

Interestingly, I discovered the Cwallet platform (formerly CCTip), which allowed me to pay all my affiliates at once and effortlessly manage the bulk payments to them. Contrary to the restrictions of other payment systems, Cwallet accepts a wide range of cryptocurrencies, giving me the flexibility to pay each affiliate with the token of their choice without worrying about exchange fees. Moreover, the method was so easy to set up that there was no turning back from using the Cwallet.

Paying Affiliates With Cwallet bulk payments

To start using the Cwallet to make payments, I had to create a crypto wallet to enable me to access the bulk payment feature. Interestingly, there was no unnecessary KYC registration and verification process, as all I needed was to connect my social platform; it was the fastest and easiest registration I'd ever done.

In addition, it was simple and quick to send many cryptocurrency transactions simultaneously with Cwallet Bulk Payment. All I needed was to choose the currency, confirm the transaction, and payment was ready to go!

Just like I did, you can enjoy the Cwallet bulk payment with 3 main steps:

1. Find Bulk Payment Tool in your Cwallet.
2. Enter payment information for all affiliates. (Select network & cryptocurrency and fill in all information. Alternatively, you can upload a CSV file for the bulk payment, which is pretty handy!)
3. Pay for your bulk payment order. Done!

For a more detailed guide on how to set up bulk payment for your affiliates, you can follow this step-by-step process that helped me achieve maximum results.

The other thing I liked about the Cwallet bulk payment tool was that it automatically checks for any formatting error in the uploaded CSV file and informs you of the line where the error is spotted. Once all corrections and verification are done, I just have to review the details on the final payment page, and Done! That's it! Super Easy, Super Quick, and saved me a lot of time!

Using the Cwallet bulk payment has many benefits, which made me conclude that Cwallet is the best and the only solution to all my payment needs. Among other advantages of the Cwallet are;

• One-click bulk payment: Affiliate networks like mine can send payments in custom amounts to numerous affiliates concurrently with Cwallet bulk payment with just one action. Regardless of whether the payment is the same or not for your affiliates
• Cross-border payment: There are no limitations on the locations to which payments may be sent. I could easily set up affiliate networks across different countries without worrying about conversion rates.
• Secure: The bulk payment feature benefits my business and affiliates by ensuring that transactions are completed securely and on time.
• Automated payment: Payments are not required to be entered manually because the system checks for errors and automates the procedure.
• Instant transaction: Regardless of the affiliate's location, the payment is received immediately rather than waiting for days.
• Zero transaction fee: This is the most crucial benefit of using the bulk payment feature. Unlike the conventional payment mode, where a certain percentage is charged, affiliates are not charged for deposits or withdrawals from their wallets.

So, with the help of Cwallet, my affiliates received their full commission without worrying about conversation rates, and my product sales increased.

Cwallet is a unique cryptocurrency wallet that combines custodial and non-custodial features.

It provides complex crypto needs of individuals or businesses through various tools like the tip code, airdrop game, giveaway tool, mobile refills, bulk payment, request invoice, payment button, etc. It is more than just a cryptocurrency wallet where users can send, receive, buy, sell, or hold and swap.

What’s more?

Cwallet does not charge any deposits, withdrawals, and token swap fees. Therefore, using Cwallet is absolutely FREE!

So, what are you waiting for?

Download Cwallet NOW!