How PhotonPay solves Payment Issues for Cross-Border Marketing Service Providers?
Company News | 2024-04-07 09:04:00
In recent years, more and more cross-border companies have prioritized "global brand building" like never before. Positioned at the forefront of digital marketing, service providers have swiftly seized this growth opportunity with keen market insights, rapidly expanding into global markets in areas such as brand marketing, influencer marketing, and global advertising. By establishing cross-cultural teams and integrating resources from local influencers and mainstream media channels, these providers are enhancing the global reach of brands with advanced digital marketing services.
According to data analysis by Scott Brinker's team in 2022, the number of companies in the global marketing technology industry has grown to 9,032, an increase of approximately 65 times compared to 2011. Digital marketing services have undoubtedly become a crucial tool for the survival and development of businesses.
The "2022 Cross-Border Marketing Industry Map" indicates that the current cross-border marketing industry primarily serves sectors such as e-commerce, gaming, applications, and others. To cater to diverse marketing needs, service providers are categorized into five types based on their business models: integrated marketing, marketing consulting, influencer marketing, precision marketing (including DSP, ASA), and marketing cloud. Based on distribution channels, traffic sources can be divided into three main categories: public domain media (including social media, e-commerce platforms, search engines, app stores, utility apps, mobile manufacturers), alliance platforms (including ad networks, MCNs), and private domain platforms (community platforms, independent sites).
Over the past five years, the global digital marketing market has experienced rapid growth, with a growth rate significantly higher than that of the overall marketing market. As international business continues to expand, the demand for bulk payments among overseas marketing service providers is increasing. Companies now need to handle hundreds of payments every month, including large payments and numerous small transactions. In this issue, PhotonPay will focus on several key payment touchpoints to help global marketing service providers solve challenges such as inefficient global fund transfers, high international remittance costs, and financial asset management, ensuring your global business runs smoothly.
Payment Scenarios Include:
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- Supplier payments and settlements
- Paying global partners, service providers
- Advertising expenses
- Multiple small payments for commissions to KOLs/KOCs and marketing promotions
- Salary and commission settlements
- Bulk payments for employee salaries and issuing commissions
When the number of payments per batch reaches dozens or even hundreds, ensuring accurate and timely bulk payments presents several challenges:
Cumbersome Processes
Traditional payment processes are cumbersome, with manual, one-by-one payments being time-consuming and labor-intensive. Large payments require manual entry of information and involve multiple approval steps.
Inaccurate Amounts Received
Due to exchange rate fluctuations, intermediary bank fees, and other factors, the amount received by the payee may differ from the expected amount, affecting the efficiency of transactions.
Low Efficiency
International payments often involve multiple financial institutions and networks, leading to slow payment processing. It may take several days or even longer for the funds to be received, which is not ideal for urgent payments or transactions.
Reconciliation Difficulties
As business lines expand and the number of suppliers increases, the volume of payments also grows, making the reconciliation process afterward extremely time-consuming and challenging.
As an industry-leading innovative global payment PaaS platform, PhotonPay is dedicated to building world-class digital financial infrastructure and deeply integrating the product strengths of traditional financial institutions. Through technological innovation, PhotonPay empowers clients by offering tailored, end-to-end, and one-stop payment solutions for global marketing service providers. This enables businesses to efficiently expand their international operations, facilitating seamless fund circulation and precise financial management, thus driving the smooth development of international business.
Convenient Account Opening
PhotonPay supports online opening of local currency accounts in multiple countries, including USD, EUR, GBP, HKD, JPY, IDR, and MXN, eliminating the need for complicated offline procedures and documentation. It supports receiving payments in the original currency or via SWIFT transfers, meeting the needs of businesses for low-cost and fast payment processing. This allows service providers to receive payments as efficiently and conveniently as local businesses, accelerating cash flow.
Global Payments
PhotonPay directly connects to global local clearing networks, covering 180+ countries and regions, and supports 60+ major currencies with payments arriving as quickly as T+0. It also offers a "bulk payment" feature, providing a smooth and efficient global payment experience, facilitating the seamless expansion of international business.
Embedded Financial Services
PhotonPay offers embedded financial services for platforms through high-quality developer features, documentation, and API components. These can be seamlessly integrated into your existing platform, meeting the payment needs of businesses across various global scenarios. This provides financial infrastructure for diverse scenarios, empowering businesses to comprehensively upgrade their financial management and operational efficiency, creating new growth opportunities.
If you are engaged in global digital marketing or advertising services, PhotonPay's "Advertising Industry Payment Solutions" could open up more opportunities for international service trade and enhance your international transaction experience.
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Latest Announcements
PhotonPay Becomes a Mastercard Issuer in Hong Kong
To launch Mastercard Commercial Credit Card to help businesses better navigate market volatility
Company News |
2024-11-11 01:00:00
PhotonPay Partners with Coshine for Issuer Processing
PhotonPay, an innovative digital financial infrastructure service provider, has announced a strategic partnership with Coshine to optimize the capability of Photon Card through its issuer processing services.
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PhotonPay and WotoKOL Enter Strategic Partnership
Recently, PhotonPay, an innovative digital financial infrastructure platform, announced a strategic partnership with WotoKOL, a leading global content marketing platform for international brands. Both
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