TikTok creator card: Visa announces deal with social media giant to launch card designed for influencers - how to apply
Visa has revealed the launch of the TikTok creator card designed for influencers to support the “fast-growing” creator economy.
Social media content creators will soon be able to show off their very own debit card. Payments giant Visa has announced a deal with TikTok to launch a card designed for influencers to support the “fast-growing” creator economy.
The firms said the card was designed to give people access to financial tools to run and grow their social media business, improving cash flow. Visa and TikTok’s creator card and business account enables creators to access earnings faster and avoid delays from waiting for payouts to fully clear, those behind the initiative said.
The creator card went through a “soft launch” trial period and is now being rolled out. 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. 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.”
Meanwhile, during a TikTok Live, creators may be rewarded for their creativity through virtual gifts which can be converted to the value of gifts and may be exchanged for income.
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.
How do I apply for TikTok creator card?
To get the Visa TikTok Creator Card, creators need to be based in an eligible region - currently UK/Europe. For the broader TikTok Creator Rewards Program, influencers must have at least 10,000 followers, 100,000 video views in the last 30 days, and be over 18. To apply, go through TikTok Studio, Creator Rewards Program.