TikTok content creators to benefit from new feature to help grow their businesses
Creators on TikTok are set to benefit from a new debit card launched in partnership with Visa and designed to simplify financial management in the UK’s booming creative economy.
The initiative aims to provide creators with essential financial tools, increasing cash flow and providing faster access to their earnings.
Those behind the launch said the card supports the UK’s “fast-growing” creative economy.
An important feature is the ability to improve cash flow for users. During TikTok Live sessions, creators often receive virtual gifts, and these gifts can now be converted into revenue more efficiently.
The collaboration between Visa and TikTok allows creators to access their earnings faster, eliminating the delays often associated with waiting for payments to be cleared in full.
Following a successful “soft launch” trial, the creator pass is now available across the UK.
Lucy Demery, senior vice president, head of Visa Business Solutions Europe, said: “We are incredibly excited to launch the UK creator card with TikTok to empower the next generation of entrepreneurs in the digital economy.
“This launch is designed to give creators faster access to revenue, brand partnerships and platform payments from TikTok Live, so they can immediately spend, plan and reinvest in their business.”
Paula D’Urbano, TikTok Live Country Manager UK, Ireland and Baltic States, said: “TikTok Live is transforming the way creators and audiences connect in real-time, creating a new generation of digital entrepreneurs.
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“By partnering with Visa, we’re giving the Live community more ways to manage their rewards—helping creators turn their passions into a sustainable career.”
A survey commissioned by Visa found that almost half (49%) of creators feel late or inconsistent payments are impacting their ability to run their business, and two-fifths (41%) have had to turn down new opportunities due to cash flow issues.
The survey was conducted by Censuswide among 1,000 professional content creators across multiple platforms across the UK. The research was conducted between March and June.
