Enabling Shared Payments with PumaPay
Affiliate marketing is one of the most popular ways to generate traffic and acquire new customers in the online sphere. Online services will often have an affiliate program that uses revenue sharing or pay per sale (PPS) as a compensation method, and many retailers use third parties to drive sales in return to a share in the revenue.
One of the greatest difficulties with affiliate marketing is the lack of transparency and trust, as the parties involved in the affiliation program usually don’t know each other and have no insight over each other’s actions.
One of PumaPay's payment protocol extensions addresses this difficulty and can enable affiliate marketing with transparency, making it more accessible than ever before.
Through the extension, PumaPay Token transactions can be distributed to an unlimited number of recipients. This type of payment enables any number of parties to enjoy a trustless and nearly-instant division of revenue from sales while maintaining complete independence and transparency regarding the payment dates and sums. This architecture also enables customers to see where their money is going, which provides an unparalleled amount of transparency for both business owners and affiliates.
Let’s start with an online store; we’ll call it David’s. David’s want to expand their business and create an affiliate program to help drive sales. However, David’s doesn’t have the resource to build a reputable affiliate network, and so gaining affiliates to trust that they will pay their commission on time is a difficult task. Using existing affiliate networks will cost David’s unnecessary intermediary fees, and so they turn to PumaPay. Using the PumaPay protocol, David’s can create a PullContract to charge his customers and chain it to a Split Payment contract that will automatically split the revenues from each purchase between his account and the affiliates. PumaPay empowers the payment mechanism to ensure that both the affiliate and David’s will immediately get their share of every purchase without any risk, solving any trust issues.
Subscribe to PumaPay
Get the latest posts delivered right to your inbox