NEW YORK — Comcast-owned FreeWheel and financial technology operation FastPay have forged a partnership that extends FastPay’s media payments applications to users of FreeWheel’s Strata platform.
The partnership, the companies say, provides the 1100+ agencies using the Strata platform with options to automate and streamline their media payment processes.
FastPay provides media buyers on the Strata platform with the ability to directly transfer
funds to their media vendors digitally, rather than relying on manual payment methods, which can be time consuming and mistake-prone.
“Financial accountability and business continuity have always been critical for agencies and media sellers, but this is especially true in 2020 as many companies adapt to tighter budgets and new work styles,” said FreeWheel Chief Revenue Officer Mark McKee. “FreeWheel is always looking for new ways to connect buyers and sellers to automate and streamline their processes, and FastPay was a natural partner for us. Working together, we are helping the industry adopt more modern financial processes that offer not only increased efficiency, but also greater security and accessibility.”
FastPay CEO Jed Simon adds, “Recent world events have exposed inefficiencies in current processes that can no longer be overlooked. Working remotely has reinforced for agencies the importance of business continuity. With one-third of media payments still being sent by check, it’s time that our industry fully adopt automation to safely and securely buy and sell media. Our partnership with FreeWheel lets us help agencies do just that.”