01 Custody
Who holds the money when affiliates get paid?
Here is the part that is the same, and it matters.
refVenue's affiliate docs say an affiliate must "setup your payout account using Stripe Connect" and that this "allows merchants to pay you directly". So the money goes from you to your affiliate's Stripe account. refVenue never holds it, and its pricing page prints zero commission.
AffiliateRail works the same way with a different payout method. It works out who is owed what, then logs into your own PayPal or Wise on a schedule and pays them. The money leaves your account and lands in theirs. The difference is reach and timing. Stripe Connect needs a Stripe account, which not every country can open. PayPal and Wise reach further, and the payout runs when it is due.