Commerce tied to creators, whether they be artists, musicians or gaming developers, is a rich target for Visa. The industry includes some 50 million professionals generating an estimated $100 billion, a spokesperson for the company said. 

The new program resembles Visa’s earlier effort to bring its tools to the transit industry, the company said. In that case, Visa enabled public transit providers to turn on contactless payment capabilities, the company said by email.

The new program for creators is designed to not only help creators be paid faster, it’s also aimed at allowing them to access their funds faster through its business-to-business services and to aid them in advertising, brand development and forging partnerships.

“The world is shifting, and for many, the traditional two-week pay cycle is becoming increasingly outdated – especially with the rise of the creator economy and social commerce,” Simon Khalaf, Marqeta’s chief product officer said in the release.

The company said in an emailed statement that it is “not involved in determining platform fees for tips or donations,” but rather the “enablers” for the creators, such as Linktree and SamCart, are the ones that will decide on fees.

By Lynne Marek on Oct 14, 2022
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