PhotonPay Supports "TikTok MCN" Payment Services
Company News | 2024-03-29 10:03:00
In recent years, as TikTok continues to gain popularity in overseas markets, more leading MCN agencies and influencers have joined the TikTok platform, making livestream e-commerce a new trend for global expansion.
· Befriends established an overseas business division and an overseas e-commerce academy. The former focuses on helping brands with international advertising, influencer distribution, and overseas livestream operations, while the latter offers e-commerce operation courses tailored to the TikTok ecosystem.
· Three Sheep Network, the overseas MCN agency under Sanzhiyang, was quickly established to distribute a large amount of short-form content on TikTok, capturing the minds of overseas users and building a substantial audience for future livestreaming.
· In just a year and a half on TikTok, Parrotok Media secured four rounds of funding, partnered with over 30,000 TikTok influencers, and served more than 25 brand clients.
Against this backdrop, PhotonPay has accelerated its technological innovation and scenario optimization to support more service trade scenarios. The "TikTok MCN Payment Solution" was launched to help international businesses gradually overcome payment barriers in the service trade sector.
Livestream E-commerce: Opportunities and Challenges
On the TikTok Shop platform, MCN agencies act as intermediaries connecting brands, influencers, and audiences, playing an increasingly important role. By managing, promoting, and providing media services, they help brands establish partnerships with influencers, fostering the growth of the digital marketing ecosystem. It is worth noting that, as market competition intensifies and industry demands evolve, MCN agencies need to continually optimize their services and operational strategies. The specific monetization methods may vary depending on the size of the agency, the collaboration model with creators, and market demand.
At the same time, when MCN agencies expand into new markets and countries, they face numerous localization challenges, such as cultural differences, varying consumer habits, and local regulatory restrictions, which cannot be ignored. Among these, local payment preferences, payment timeliness, and security measures are particularly critical.
It is well-known that service trade enterprises face more restrictions than goods trade companies when it comes to receiving payments and currency exchange. As a result, most service trade companies currently rely on offshore banks for payments. However, since service trade companies lack tangible products as carriers, verifying the authenticity of trade and the reasonableness of transaction prices is often challenging. This makes it difficult to open accounts and settle trade payments with traditional financial institutions, compounded by issues like extensive documentation requirements, lengthy procedures, and low capital turnover rates.
Additionally, due to the large number of upstream and downstream partners in the industry chain, the fund distribution process is highly complex, involving transactions across multiple countries and regions. Managing and tracking numerous, varying amounts of multi-currency payment transactions, such as promotional commissions, sales commissions, and service fees, presents a significant challenge for global enterprises.
PhotonPay Helps MCNs Reduce Costs and Increase Efficiency
As a leading global payment platform, PhotonPay leverages its mature cross-border end-to-end payment and exchange capabilities to introduce the "TikTok MCN" payment solution. This solution targets the e-commerce influencer industry, focusing on upstream and downstream payments across the industry chain and complex fund processing scenarios, aiming for practical convenience and higher efficiency to address various challenges in the service trade sector.
Direct Collection in Local Currencies
PhotonPay offers local collection accounts that cover multiple major currencies, including USD, EUR, GBP, HKD, JPY, AUD, CAD, SGD, IDR, and MXN. Accounts can be opened through a fully online process. By connecting to local payment clearing networks, PhotonPay enables service trade enterprises to receive payments in their original currency, ensuring faster transaction times and effectively reducing overall business costs.
One-Stop Efficient Management
After completing global collections, businesses can directly proceed with foreign exchange settlements, withdrawals, and supplier payments, enhancing the turnover rate of trade funds. PhotonPay's Payouts cover over 180 countries and support more than 60 currencies. If the balance in the payment currency is insufficient, PhotonPay will conduct currency exchanges at competitive interbank rates, ensuring efficient and low-cost payments.
On the operational side, businesses can use the PhotonPay merchant platform to view the balance and transaction summaries across multiple accounts, providing clear oversight of expenses and enabling efficient management of marketing budgets.
Multi-Location Licensing
PhotonPay holds licenses and business qualifications in various countries and regions, including Hong Kong, the United Kingdom, the United States, and Canada. It also collaborates with licensed financial institutions that have local payment business qualifications, ensuring secure and compliant foreign exchange settlements. Additionally, PhotonPay employs an industry-leading risk control system to comprehensively safeguard corporate funds.
In the future, PhotonPay will continue to drive technological innovation and optimize application scenarios, constantly upgrading solutions for various industries. Stay tuned for more updates.
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