When it comes to administering payments to their creators, creator and music platforms have difficulties. The capacity to promptly pay thousands of creators across numerous locations without incurring exorbitant fees is at the heart of these difficulties.
The system has been completely revamped by the HELPFUL platform to support the booming global creator economy. It makes use of Mastercard Send, a service that facilitates safe, fast money transfers between billions of card, bank, and digital accounts worldwide.
Platforms now have the ability to pay thousands of creators worldwide with a single click to any digital wallet, account, or credit card they choose, all while keeping complete control over payments management and invoicing.
The creative economy has risen rapidly over the past two years, creating a huge need for cross-border global payouts. The creative and music platforms, which currently have a market value of around $104.2 billion, are negotiating one of the most challenging economic conditions of our time, with management, speed, and the high cost of payouts at the top of their list of problems.
Since 2020, there have been more than 165 million new creators, and more individuals are becoming creators every day as a result of the accessibility of content creation tools. Although the majority of them would like to do it full-time, this isn’t possible because they don’t get paid quickly or even fairly for their work.
For UK artists and creators, being able to keep more of their money for their artistic work is welcome.