TikTok has teamed up with global banking platform Airwallex to offer better advertising and payments infrastructure.
TikTok is entering a partnership with fintech organisation Airwallex as part of a strategic effort to help small-to-medium enterprises (SMEs) to scale their advertising more effectively into different regions.
As such, new SME advertisers on TikTok can unlock as much as $10,000 in matched ad credits when they use an Airwallex card to pay for campaigns.
TikTok is an increasingly popular advertising platform with global reach – but the advertising and payments infrastructure is having to quickly evolve to keep up with the growth of the brand-to-consumer ecosystem.
Cross-border payments, foreign exchange, and working capital have been a challenge for the social media giant. This partnership looks to address these challenges by combining TikTok’s performance-driven ad platform with the global payments system of Airwallex across EMEA.
“More businesses are turning to platforms like TikTok to acquire customers globally, but managing the financial side of that growth remains complex,” said Emma Thompson-Murphy, partnership lead at Airwallex.
“Through this partnership, we’re giving our customers a clear incentive to get started on TikTok, alongside the financial infrastructure and controls they need to scale campaigns across markets with confidence.”
Within the collaboration, SMEs will be given capabilities to create and manage virtual cards for advertising. These will have strict spend limits and real-time campaign cost tracking – allowing finance teams to have better visibility and control to ensure it aligns with marketing budgets.
There is also option for advertisers to pay in multiple different currencies, which could be beneficial when running global campaigns.
Claire Mulhern, head of SME EMEA, TikTok, added: “TikTok gives businesses a unique platform to be discovered, engage communities and drive real growth. Through our partnership with Airwallex, we’re making it easier for SME’s to scale their business on TikTok, with flexible tools that help them manage spend and growth efficiently across markets.”
