Visa and TikTok have launched a debit card for content creators in the UK. The product, called the Creator Card, is aimed at TikTok LIVE creators.
The payments group said creators who earn income via TikTok LIVE often manage those funds through personal bank accounts.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The company’s research across creators on multiple social media platforms found that 86% of creator-run businesses are self-funded and 49% have experienced late payments. The research also found 41% said they have turned down new opportunities due to cash flow issues.
Visa said the rollout is intended to address “cash flow challenges” faced by creators. The debit card and accompanying business account are designed to help creators improve cash flow and manage finances.
The product also supports financial management by helping creators separate personal and business spending.
During TikTok LIVE broadcasts, creators receive virtual gifts. The value of these gifts can be converted into “diamonds” and then exchanged for income. Visa noted that these earnings may arrive irregularly, which can affect creators’ day-to-day spending and reinvestment.
The Creator Card lets creators access these earnings “faster” and use funds sooner, rather than waiting for payouts to fully clear.
Visa Commercial Solutions head in Europe and SVP Lucy Demery 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.
“By simplifying access to funds, we’re helping creators manage cash flow with confidence, so they can stay focused on what they do best – growing their business.” Recently, payabl. launched Click to Pay with Visa, adding the service as a card payment option for online merchants. The service is now live for eligible merchants across Europe.
