Payday loans - any reliable merchants out there?

[Mike_M]

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Question for AFFILIATES, not merchants!

Are there any reliable payday loans merchants on any of the networks? If so who are they and where are they?

Thanks,

Mike

[Michael_Anthony]

From our own research, I'd say that the answer is definitely no.

[john-pp]

Reliable in what way?

[andrewafform]

Hi,
we're not merchants or affiliates, but afform.co.uk has a very good payday loan campaign. As you probably know, most payday loan campaigns work on a lead basis at around £10-15 per lead. Our campaign differs in that we pay per action (once the applicant has taken up the loan).
Because of the lag between application and the actual depositing of the loan into the applicant's account, this campaign is subject to reversals.
However, we pay £45 per validated transaction, with reversals running at roughly 30-40%, so the effect lead rate is £28 upwards.
We offer bonuses to affiliates who can drive high volume- if you'd like to discuss this, please email me- andrew@afform.co.uk.

[john-pp]

er... We ran a trial with afform to have a couple of side ads - turned out it was for MEM and we had 100% reversals! Not only that but reversals are completely removed from their system so you don't even get proper reporting!

We were going to stop promotion through afform because we already deal with MEM direct but the reporting situation and rejection rates just speeded up the process

Most of our actual payday apps come from our own affiliates so you'll need to ask them about our reliability. BUT we are also affiliates and even though the very nature of the Payday market makes it very difficult to obtain perfect reliability there are a couple of good lenders you can deal with direct out there.

[andrewafform]

Hi,

yes it is for MEM- didn't know you had a direct relationship with them.
However, they are reliable. Yes, they do have reversals every month, but this is because they pay out £45 on validated actions only- a lot more than the usual £10-15 lead payout.
Even after reversals, the average lead payout works out to be £28+.
Obviously working with a campaign that has reversals is not as straighforward as a straight lead propostion, but I wouldn't describe them as unreliable- they are one of our best campaigns in terms of revenue. I'm guessing your 100% reversal rate was based on a relatively small amount of transactions- it evens out the more traffic you drive.

[Michael_Anthony]

"so the effect lead rate is £28 upwards."

Wrong - the effective per SALE rate is £28 upwards, making £10 per lead look like a much better deal.

Still stand by my original post though - there's no such thing as a reliable payday loan merchant.

[sprouty]

Hi Andrew have you managed to get a form together for the Payday Loans or are you still working with banners ? Thanks Keith

[john-pp]

Andrew, as far as I remember it was over quite a short period but there were quite a few "sales" showing - all we have in the afform account to show for it is 364 clicks so can't really say for sure!

Regardless.. I'm not saying MEM are "unreliable" - they're probably the best of the big guys in fact, it's just the accept rates on paydays on the whole are pretty low.

I'd be VERY surprised to see an average across the board on your MEM apps of £28+

Between us and our affiliates we're now chucking 1000+ apps per day over 4 (soon to be 5 again) merchants through our ping tree - of those that manage to get pinged to MEM we're seeing an accept rate of less than 10%

Not sure it's a question of reliability though or what the " two Mikes' " mean by that? Guys? can you elaborate?

[Mike_M]

Not sure it's a question of reliability though or what the " two Mikes' " mean by that? Guys? can you elaborate?

Yes I can,

By reliable I mean -

1. They have a proven good validation rate (80% or above) for at least a few months running

2. They don't reject leads for reasons that allow them to to reject as many as they want, eg 'customer went elsewhere' or 'not interested'. In other words, they don't advertise a pay per sale program as a pay per lead program.

3. They are a legitimate merchant with all the correct DPA/CCL/FSA regs etc. i.e. it's not one bloke saying 'send them to me'

4. They pay out in full on time every month

5. They don't have unreliable tracking systems in place

6. They are not about to go bankrupt

7. They are not an indian call centre


Judging by the lack of affiliate response to this thread, it looks like you're right Michael.

Mike

[john-pp]

Ok....

With my affiliate hat on:

1. You're NEVER going to get anywhere near a validation rate of 80%+ in the payday market.

2. Most reputable payday merchants will provide a system with instant qualification, validation and acceptance but there are a few sudo merchants out there that do exactly what you mentioned and we've probably had run ins with most so if you want a list of the good, the bad and the ugly PM me!

3. All the top guys will be - the trick here is to approach the lenders direct wherever possible. (ow.. that hurt! just got a smack round the back of the head from my boss!)

4. Not really seen any problems on this front with any of the major merchants we've worked with.

5. ah... this is a problem even for the big guys - very difficult to quantify in that some don't even have any affiliate accessible reporting and you have to rely on your own systems and their honesty! (BTW (merchant hat on) we have good online reporting for our HTTP post leads)

6. Who knows, or how can you tell? As with most things in business you have to take some kind of risk. Even the established lenders are susceptible to market forces and climates.

7. I think this one's a bit easier to suss out

[advortis]

Hi Everyone,

We have a decent payday loand campaign on our network. It's called 'getmetopayday' and it pays on a lead basis. A lead is when a consumer fills in the application form and passes the required credit checks which happen live so consumers are informed whether or not they are accpeted for a loan or not, and affiliates get an instant update in their account of accepted leads. The campaign pays out £6 per lead but we can negotiate up for decent volumes. We have a selection of banners and email creatives available. At present the network conversion rate is 8%.

Check it out here

[anyloans.co.uk]

Hi Everyone,

We have a decent payday loand campaign on our network. It's called 'getmetopayday' and it pays on a lead basis. A lead is when a consumer fills in the application form and passes the required credit checks which happen live so consumers are informed whether or not they are accpeted for a loan or not, and affiliates get an instant update in their account of accepted leads. The campaign pays out £6 per lead but we can negotiate up for decent volumes. We have a selection of banners and email creatives available. At present the network conversion rate is 8%.

Check it out here

So can you confirm that the customer doesn't actually have to take out the loan , just be accepted for one.

[OWin]

Hi Mike,

Check out the Provident Personal Credit programme on Affiliate Window

- Per lead commission between £4 and £10
- Very reliable - 100% of valid leads are approved
- Fast approval - commissions are validated automatically on a daily basis
- Bonuses - an additional £15 bonus is paid if the lead converts to a loan
- Click to lead conversion rate of 13%
- EPC of £0.60

So you can earn up to £25 per application, and unlike other networks Affiliate Window pays you twice a month!

Feel free to PM me or get in touch – my details are below.

Owen

[acutts]

Hi Everyone,

We have a decent payday loand campaign on our network. It's called 'getmetopayday' and it pays on a lead basis. A lead is when a consumer fills in the application form and passes the required credit checks which happen live so consumers are informed whether or not they are accpeted for a loan or not, and affiliates get an instant update in their account of accepted leads. The campaign pays out £6 per lead but we can negotiate up for decent volumes. We have a selection of banners and email creatives available. At present the network conversion rate is 8%.

Check it out here

Is there an iFrame available for this campaign? (same goes for Provident from AWin)