According to a report by Influencer Marketing Hub, the creator economy market size is US$104.2 billion, and it's projected to grow to trillions in the nearest future. And with so many creators onboard this wagon, it created a trickle-down effect in the world of payments since more creators need to be paid in mass and in real time.
For a long time, this was a problem for brands that work with creators or influencers, finding the ideal payment solution to pay their creators after an incredible job. Finally, however, digital payments have become the long-awaited solution, giving brands the option to pay their creators and influencers without hassles quickly.
It also opened up new revenue opportunities for platforms since they charge a fee for almost every transaction. So today, creators can get paid irrespective of where they are in the world or if they have a company or not.
As someone who works with creators and influencers, you might wonder how best to pay your creators. In that case, read on to learn how digital payments became the ultimate piece powering the creator economy and the best payment solution at the moment.
Pay Anyone, Anywhere!
Be you a professional marketer, a digital marketing agency, or the CFO of a company, you understand what it means to have a team of experts translate a dream into reality. When you collaborate with creators or influencers to create something unique, you also need to give them a pat on the back for a fantastic job.
And what better way to do that if not by paying them instantly and without hassles? With digital payments, you pay all your talents at once from a single transaction while also allowing you to keep track of everything.
It doesn't matter if your creators or influencers are in a 1st or 3rd world country. In other words, the geographical location of your talents is no longer a barrier, nor do they need a company.
Digital Payment Solution To Protect Creators
In order to succeed in the creator economy, platforms and creators must be connected across borders, even in the most hard-to-reach markets. Through the provisions of digital payments, you can deliver fast real-time payments - specifically in the creator's preferred currency and payment methods, allowing you to build and maintain a deep and meaningful relationship with your talents.
Failing to deliver a smooth payment experience will be your undoing as long as the creator economy is concerned, as it makes you unappealing to work with. When you're working with international creators or influencers, you will discover that you can't send money the conventional way, and that is where digital wallets shine the most.
Remember, creators are businesses, so paying instantly after collaboration is vital to support their daily livelihoods as they need immediate access to their money for a smooth business relationship.
How Gigapay Solves The Creator Economy's Payment Challenges
Digital payments serve as a bridge between creators and brands, allowing both parties to work together without payments being a hindrance. And for someone who works with more than one creator, there's a need to pay them all at once, saving you the headache of paying them individually.
For this reason, Gigapay was born, creating an avenue for brands to perform cross-border payments to creators and influencers quickly and efficiently, regardless of where they are, with taxes and other social benefits declared.
To learn more about our innovations that facilitate quick and seamless payments and how Gigapay helps you pay instantly and compliantly, get in touch with us, and we'd be happy to show you how.
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