If you wonder what the most efficient way of paying your influencers is, you will probably have come across the following questions:
- How do I pay influencers with a company?
- How do I pay influencers without a company?
- How do I make it easier for influencers with a company to invoice me quicker and without mistakes?
And last but not least:
- How do I consolidate all influencer invoices, so I don't have to pay them one by one?
We have the answers to those questions and a product that leads to 0 human error.
Gigapay enables instant payouts and consolidates all your influencer invoices, and it helps you and your influencers reduce the admin time around paying and getting paid.
Sounds incredible, right?
Gigapay partnered up with Zimpler to make this possible and when you finish reading this article, you will know how it works and how some of the top influencer networks and Swedish brands are using our newest feature: Self Billing for freelancers.
How does it feel like paying creators via Gigapay?
"It feels awesome," says one of our clients, who is now saving hours each week from doing boring admin.
Brands and Platforms paying via Gigapay don't need to double-check influencers' identities or bank account numbers or verify whether they have a company. The way Gigapay is built only requires our clients to ask for a mobile number, and a name – Gigapay does the rest.
Our added value translates into freedom & speed. Gigapay allows influencers and freelancers to choose how and when they want their money: the gross amount sent to their company or as a salary with taxes covered and reported.
Our KYC and onboarding is super smooth and offers a great UX experience. We're continually working hard to ensure that we have a product that both senders and recipients love, and self-billing has been a natural extension of what we're building at Gigapay.
We're on a mission so that anyone can work for anyone, anywhere, without any worries or hassles on how they will get paid. So, when we first started, we focused on supporting recipients that didn't have a company, as we thought this was the group with the biggest need.
We helped them by acting as an employer each time they went to claim a payout, so we could calculate the taxes and report it to the local authorities. It was great for micro-influencers and giggers, but as we started working with larger influencer platforms and brands, it became obvious that recipients who had a company also suffered trying to get paid.
What we did: It was super important for us to give the same experience, regardless of whether a recipient had a company or not. So we reworked the UX so that it was only at the claim payout end-point that the recipient could decide how they wanted to receive their money.
The next challenge was ensuring the recipient still experienced the Gigamagic (aka Instant money) even if they had a company. But the problem was that many recipients with a company still wanted to follow their existing invoicing processes, which involved them creating an invoice and then sending it off, knowing that it would take a few weeks to get paid. So what did we do?
First, we added support for traditional invoicing so that recipients who wanted to could still follow their existing processes by copying our details and sending an invoice to us. Which looks a little like this
Next, we imagined how we could implement self-billing for recipients with a company that wanted the money directly. It ended up looking a little like this:
⬅ This is what the creator sees when they receive a payout and choose Simple Invoicing.
Our other payout options:
Now that you know what self-billing is, and for those curious to learn more about our other payout options, this is what influencers can do when they get a payout through Gigapay.
When our client creates a pay run, all recipients expecting a payout receive an SMS. That SMS contains a link for them to claim their money.
When retrieving their payouts, they have 2 options:
1. As an individual: This is the perfect solution for creators without a company, where they can take the money out as a salary with taxes covered and reported. They get their money in a few seconds via Swish or an instant bank transfer.
2. As a company: This is for those creators with a company who want to handle their bookkeeping. Here they can choose traditional invoicing, where the recipient is responsible for sending us an invoice that will be paid within 15 days. Or, they can get paid instantly to their company via Self-billing.
Offering instant payouts is quickly becoming a hygiene factor for businesses looking to engage the best Influencers and Creators. That is why the self-billing feature is essential for businesses that engage short-term workers with their own company. It allows your workers to get paid instantly without traditional invoicing.
If you'd like to read more about the technology behind it you can click here and feel free to book a demo. We'd be happy to show you how easy it is to pay.
Insights from our experts
Keep yourself updated with the latest news, insights and strategies about the finance side of the Creator Economy
Sergio recognised a huge business opportunity in micro-influencers when individuals solely sought collaborations with celebrities and big influencersRead more
Explore the nuances of the Künstlersozialkasse (KSK), the financial and social security for influencers in Germany. Learn how KSK impacts you here.Read more