Introducing Refersion Pay: Refersion’s New Solution for Simplified Affiliate Payments and Tax Compliance
With extensive opportunities for market reach and minimal investment requirements, affiliate marketing has become a frontrunner for brands seeking low-risk and high-reward solutions. Statista anticipates U.S. affiliate marketing spending to reach $8.2 billion by the end of 2022, further exposing the sheer value associated with this growing industry.
As more affiliates and influencers join the flourishing performance marketing landscape, ecommerce businesses must prioritize a trusting relationship with their marketers. For affiliates, this trust begins with consistent payments and simplified tax compliance. Recognizing this void of connection between affiliate and brand, Refersion developed Refersion Pay as a relationship-building solution for brands and affiliates.
Through Refersion Pay’s centralized platform, affiliates and influencers receive automatic and direct monthly payments from their brands, as well as access to necessary tax information. Currently released for USD to USD, transactions flow directly from the brand’s bank account into the affiliate’s, ultimately providing the affiliate with trust for timely payments. Additionally, the brand’s tax documents are organized and housed within the platform for simplified navigation and location.
Refersion Pay also streamlines the affiliate program workflow for brands by providing scheduled payments from multiple payment options, as well as automated order conversion approvals. This direct payment solution not only removes the need for third-party payment vendors, but also the cost of third-party transaction fees.
The Bottom Line
Ultimately, Refersion Pay’s platform helps eliminate confusion over tax management and compliance requirements, while supporting the needs of your affiliates. With such high-level management capabilities, Refersion Pay gives brands more time to focus on growing their affiliate programs instead of wasting time on complex payments and taxes.
Ready to stand out to publishers, motivate your affiliates, and start building out your affiliate programs? Learn more about how your brand can get started with Refersion Pay.