Content creators on TikTok are set to benefit from a new debit card launched in partnership with Visa, designed to streamline financial management within the UK’s burgeoning creator economy.
The initiative aims to provide creators with essential financial tools, enhancing cash flow and offering quicker access to their earnings.
Those behind the launch said the card supports the UK’s “fast-growing” creator economy.
A key feature is its ability to improve cash flow for users. During TikTok Live sessions, creators often receive virtual gifts, which can now be converted into income more efficiently.
The collaboration between Visa and TikTok ensures creators can access their earnings faster, avoiding delays typically associated with waiting for payouts to fully clear.
Following a successful “soft launch” trial period, the creator card is now being rolled out across the UK.
Lucy Demery, senior vice president, head of Visa Commercial 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 income from TikTok Live, brand partnerships, and platform payouts, so they can spend, plan and reinvest in their business straight away.”
Paula D’Urbano, country manager, TikTok Live UK, Ireland and Baltics, said: “TikTok Live is creating the next generation of digital entrepreneurs, transforming the way creators and audiences connect in real-time.
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“By partnering with Visa, we’re giving the Live community even more ways to manage their rewards – helping creators to turn their passion into a sustainable career.”
A survey commissioned by Visa indicated that nearly half (49%) of content creators feel that late or inconsistent payments have impacted 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 carried out by Censuswide, among 1,000 professional content creators across the UK on multiple platforms. The research was carried out between March and June.
