Revolutionizing Media Buying Through Embedded Finance: Our Partnership with MXK8

Sep 30, 2022
Highnote Team

Media planning and buying, or the process of purchasing ad space and time to get brands in front of their target market, began in the 1980’s as the domain of small subsections of advertising agencies. But with the advent and explosion of ecommerce and digital marketing, media buying has transformed into a vast and highly profitable undertaking, with the potential to generate over $1.3 trillion of enterprise value in the United States alone. For businesses hoping to take advantage of this trend and unlock ecommerce at scale however, navigating the complexities of the fast-changing new media buying landscape remains a daunting task.

That’s why we at Highnote are excited to announce our partnership with MXK8, a leading spend and expense management platform for small businesses. Named for two Chinese characters that symbolize the American dream and the Chinese dream, MXK8’s mission is to provide best-in-class financial products for small businesses for both the Asian American community that helped it get its start, and the numerous ecommerce businesses of all kinds that are increasingly gravitating to the MXK8 platform. Through our work together, MXK8 customers are empowered to run advertising and marketing campaigns on digital channels such as Facebook, YouTube, Instagram, etc., through expenses that are easily managed, eliminating hours of back and forth communications seeking approvals.

Our friends at MXK8 probably said it best though. Jordan Xiong, MXK8 CEO, had this to say about the decision to partner with Highnote:

“We’ve been looking for a card provider that met the unique, complex, and fast-changing needs of our customers for some time. Not only that, but we also wanted a partner that felt as modern as the services that we are offering are. It was only when we tried Highnote that we were fully convinced this could be done. Their level of technical advancement and customizability puts them far above any other card issuer we’ve tried before.”

In this new era of ecommerce marketing, particularly in the US, there can be dozens of moving parts. There may be numbers of digital ads running simultaneously according to various campaign schedules, with ads highlighting diverse products ranging from shoes to children's toys. Ensuring that each of these campaigns is quickly paid for, tracked, and reported used to be an onerous task. Managing levels of payment complexity however, is exactly where Highnote shines.

As the world’s most modern card issuer processor and program manager, we’ve enabled MXK8 customers to unlock entirely new benefits in their AP and expense management experience including:

  • Simplified media buying using our virtual card issuance capabilities, enabling customers to issue virtual cards dynamically, tied to a specific campaign or account
  • Granular spend controls which give customers the ability to ensure spend happens only on approved platforms
  • Customizable velocity limits which allows for powerful control of how much gets spent on a campaign or channel and within what time period
  • A double-entry accounting ledger to track balances and money movement across all accounts, saving tons of financial operations time for reconciliation
  • The ability to create travel and expense or accounts payable solutions with flexibility and control

US ecommerce sales will cross $1 trillion for the first time in 2022. Through MXK8, more and more small ecommerce businesses are able to fully take advantage of this massive and fast-growing market. And through MXK8 partnering with us, these small businesses will be able to do this faster, more efficiently, and to a higher standard than they could have even imagined.

Highnote strives to unlock the highest level of value for our customers. To learn more about our offerings, get in touch now.

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