On December 5th, FastPay was a key sponsor of the American Association of Political Consultants’ (AAPC) 2018 Austin Regional Conference. The day was anchored around Texas post-election discussions from Democrats and Republicans, along with a featured keynote from one of our customers who worked on the Ted Cruz campaign. Naturally, the phenomenal election year media spending was a hot topic.
At the event, FastPay networked with attendees, discussing our media payment solution, FastPay Political, which was created specifically for buying and selling political media. We also shared news of our recent milestone — crossing the threshold to over $1 billion in political payment transactions.
The FastPay milestone follows the trajectory of the 2018 mid-term election cycle. “Overall, the 2018 midterms had the largest midterm election spend ever,” according to OpenSecrets.org. “The total media spend was reported at just over $5.2 billion. The CRP estimates it to be a 35 percent increase over 2014 in nominal dollars.”
The major advantage that FastPay political media clients gained was sending payments at any time of day, with no cutoff times or FedEx deadlines to consider. This was a significant benefit for agencies, considering the unprecedented volume of spending that was occurring. Also, thanks to the efficiency, flexibility, and speed of the application, they could take on more campaigns and candidates during this cycle, allowing them to do even more business.
“The 2018 elections were the most successful cycle for FastPay since 2014,” said Michael Wehner, GM/SVP of Payment Solutions at FastPay. “One client told us that thanks to FastPay they were able to devote more time to their clients and less time worrying about getting payments out the door. It’s great validation to hear how our solution is helping agencies provide better service to their clients.
“We’re happy our team could share our company’s and our clients’ success this election year with the attendees at the AAPC gathering. It is the perfect opportunity for people in the political industry to share best practices. We are proud to support the organization and its members.”