LONDON, UK 5th December 2022 – HELPFUL unleashes full potential of the thriving Creator Economy, with their groundbreaking ‘Pay instantly, anyone, anywhere’ global payout technology.
Creator and music platforms experience challenges when managing payouts to their creators. These challenges centre around the ability to pay thousands of creators quickly, across multiple geographies, without the high associated fees.
platform has redesigned the system from the ground up, to serve the thriving global creator economy. It uses Mastercard Send, which enables secure, near real-time payment transfers to and from billions of card, bank and digital accounts globally. Platforms can now pay thousands of creators around the world, with one click, to whichever payment method they choose – digital wallet, account or card – while maintaining full control over payout management and invoicing.
In the last two years, the creator economy has grown exponentially, leading to a massive demand for cross-border global payouts. With a current value of around $104.2 billion, the creator and music platforms are navigating one of the most complex economic environments of our time; with management, speed and the high costs of payouts at the forefront of their pain-points.
There have been more than 165 million new creators since 2020 and with content creation tools so easily accessible, more people are becoming creators every day. While most of them would like to pursue it as a full-time job, this simply isn’t possible due to not getting paid fast enough, or even equitably for their work.
Payout management is impacting the industry’s ability to reach its full potential.
Evan Michaels, Co-founder and CEO of HELPFUL said:
“Creator and music platforms that work with HELPFUL to offer automated, instant and secure payments, can capitalise on the opportunities the creator economy offers. By removing the administrative burden of making individual payments, chasing invoices or blocked payments, it allows their operations and finance teams to focus on the growth of the business instead.”
Darren Deal, Senior vice president, Business Development at Mastercard said:
“The use of our Send technology has the potential to transform the way creative platforms make payouts, with creators and artists able to receive instant payments, however, they choose, so they can concentrate on what they love doing.
“Simple, fast and secure payments can help some of the world’s most exciting new industries to grow, and we’re excited to help these platforms attract and retain top creators by giving them the ability to pay their community quickly, securely and on their terms. This will ultimately allow these platforms to scale and grow their businesses and gain a competitive edge.”