The creator economy is rapidly evolving, projected to reach a $525 billion valuation by 2030, according to an update from Airwallex.
Creators are said to be adopting more “sophisticated” business models – diversifying revenue streams “across platforms and expanding their global reach.”
To stay ahead, creator platforms must “offer their users seamless and intuitive tools for managing increasingly complex financial operations across borders.”
To support this growing complexity, Airwallex has enhanced its capabilities to better “serve creators and the platforms that support them.”
Platforms can embed Airwallex APIs to offer “multi-currency tools, including payment acceptance, global payouts, branded creator cards and an advanced tax solution to embed data collection and filing for tax reporting.”
This comprehensive suite of customizable financial tools gives creator platforms an edge in “simplifying global payments, streamlining UX, and helping creators to scale and monetize their business.”
Philipp Reichardt, VP of Enterprise, North America at Airwallex said:
“Airwallex is building financial tools to connect entrepreneurs, business builders, makers and creators with borderless opportunities. With this launch, we’re making it easy for platforms to embed financial tools that remove complexity – ultimately empowering creators to focus on what they do best, without getting bogged down in paperwork.”
Airwallex’s offering to creator platforms is “purpose-built for the globally-connected creator economy.”
With Airwallex’s embedded financial tools, global platforms gain:
- Tax Form Capture and Filing: Platforms and marketplaces can use Airwallex to collect taxpayer information in their platform and file tax returns directly to the tax authorities. At launch, the capability will support US 1099-NEC tax filings, with additional forms planned for near-future rollout.
- Payment Acceptance: Platforms can deploy a flexible, PSP-agnostic payment acceptance tool that enables creators to accept payments and tips from their followers in multiple currencies from across the globe.
With Airwallex, viewers can use their “local payment method of preference to pay their favorite creators, and creators can subsequently increase their following in multiple markets.”
- Creator Wallets: Platforms can offer creators a centralized wallet to manage payments from various creator platforms in multiple currencies in a single multi-currency wallet, save on currency conversion fees, and keep their finances organized with easy reconciliation.
- Payouts for Creators: Platforms can send payouts to their global creators in 170+ markets in as little as a single business day. Funds travel using local payment rails in 120+ countries, expediting payouts and saving platforms from expensive payout fees.
- Creator Cards: Platforms can issue branded multi-currency cards to creators around the world to streamline their local and global purchases, allow faster access to funds and track spend effortlessly.
As covered, Airwallex is a global financial platform for modern businesses, offering solutions to “manage everything from payments, treasury, and spend management to embedded finance.”
With their infrastructure, Airwallex explains that it takes “the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders.”
Founded in Melbourne, Airwallex says that it supports “over 100,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN.”