Visa and TikTok have partnered to launch a new debit card account which aims to improve cash flow management and provide faster access to earnings from live-streaming and platform activity for UK content creators.

The payments company said the “Creator Card”, which is targeted at users monetising content through TikTok’s live-streaming service LIVE, is the first product of its kind in the UK.
Income earned through TikTok LIVE is typically paid in bursts, rather than on a fixed schedule, and must be converted from TikTok’s virtual diamonds to hard currency before being usable.

Currently, diamond withdrawal is only available in US Dollars, and only through PayPal. TikTok’s terms state that users should allow up to 36 calendar days from the time withdrawal is requested to receive their funds.

This can create liquidity challenges for creators; research commissioned by visa suggests that nearly half of UK content creators have experienced late payments, while 41 per cent have turned down opportunities due to cash flow constraints.

Visa’s new card allows creators to access funds before payouts have fully cleared, letting them spend money immediately after requesting it.

The card is attached to a business account, which the card company says will help users separate their personal and business finances, something Visa-commissioned research suggests 94 per cent of creators would like.

Visa said the launch builds on its recognition of creators as a growing segment of small businesses within the digital economy. The company estimates there are around 200 million creators globally, with the sector projected to reach $500 billion by 2027.

Around 85 per cent of creators earn up to $100,000 each year and many of them manage multiple revenue streams, with 95 per cent involved in brand partnership and 77 per cent promoting services at least once a month.

By linking monetisation tools with payment infrastructure, Visa said it wants to simplify financial management for creators operating across multiple revenue streams.

“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,” said Lucy Demery, SVP, head of Visa commercial solutions, Europe. “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.”

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