Visa is rolling out a new program that focuses on getting creators faster payouts when they connect with audiences on social and video gaming platforms.
The Visa Ready Creator Commerce Program is a global initiative for Visa’s platform partners to help them embed financial tools that creators can use to build their businesses, according to a press release emailed to PYMNTS on Thursday (Oct. 12).
The new program aims to connect creator-centric platforms with solutions to boost their offerings to creators, such as instant payouts, tipping and donations.
“Creators are playing an increasingly important role in digital culture and commerce,” said Vanessa Colella, SVP and Global Head of Innovation and Digital Partnerships at Visa.
“Creators are running businesses entirely online and finding new ways to monetize their work. With the Visa Ready Creator Commerce program, we want to help the ecosystem meet individual creators where they are – with embedded tools that help creators get paid faster, better engage their followers and ultimately build a stronger business,” she said.
Small businesses often struggle with cash flow challenges, and it’s no different for creators, who also have to move fast, quickly build momentum, and a build following. Having immediate access to wages can help creators jump on possible partnership and marketing opportunities than can further facilitate growth, per the release.
Through the Visa Ready Creator Commerce program, platforms that cater to creators can also connect to Visa Direct and enable their creators to get their money in near real-time.
“This support for creators can help platforms drive greater user engagement,” according to the release.
Both Walmart and Amazon are expanding are looking into expanding their use of influencers to sell products, PYMNTS reported in August. Walmart has included influencers on its website since at least 2018.