"The creator card is designed for the growing numbers of people making money through TikTok Live, a live streaming feature where creators receive virtual gifts from viewers that are later converted into cash."
"Visa-commissioned research suggests that 49% of creators have experienced late or inconsistent payments that have affected their ability to run their business, while 41% have had to turn down work owing to cashflow issues."
"The debit card is a virtual card, and it can be used for creators' other earnings, including from brand partnerships. Creators can make payments via digital wallets and can access the account the card is linked to via the TikTok app."
TikTok and Visa introduced a debit card for content creators in the UK, enabling quick access to earnings from TikTok Live. This card addresses cashflow challenges, as creators often wait days or weeks for payments. TikTok Live allows users to broadcast in real time and receive virtual gifts, which can be converted into cash. Research indicates that many creators face late payments, impacting their business operations. The virtual card can also be used for other earnings and is available to users aged 18 and over through the TikTok app.
Read at www.theguardian.com
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