NEW
YORK and TORONTO,
Dec. 6,
2022 /CNW/ - Artist Growth Inc., a
high growth collaboration and business platform for labels, artist
managers, and creative teams and Payfare Inc. (TSX: PAY), a
leading fintech powering instant payout and digital banking
solutions for the gig workforce, today announced that they have
partnered to launch the Artist Growth Wallet, an industry-first
financial platform for artists and creators offering a business
Visa card with no monthly fee digital banking and faster access to
earnings.
The Artist Growth Wallet, launching this December, will enable
artists and creators to have faster access to their earnings from
content platforms such as social media, record labels, event venues
and more. With an estimated 200M1 creators globally, the creator
economy is sized at more than $104B2. In 2021, more than 43% of
creators in the US earned over $50K
in annual income or higher. In an industry poised for exponential
growth, the Artist Growth Wallet offers artists and creators
financial control and flexibility built with their unique needs in
mind.
The Artist Growth Wallet will support best-in-class digital
banking capabilities helping creators better manage their business
while providing cash back rewards at hotels, travel, restaurants
and more powered by Payfare's partnerships with Visa Savings Edge
and Cardlytics.
"We believe partnerships can enable unique and powerful value
for customers and our collaboration with Payfare embodies that
spirit," said Artist Growth founder and CEO, Matt Urmy. "I am so excited for creators
and businesses in our industry to get their hands on AG Wallet and
experience its integration with Artist Growth Workspace, which will
bring faster payments and save artists more money. Our mission is
to support creators and their teams in achieving financial success,
to further empower creative freedom for the world's artists,
because society would be lost without them."
"As the consumer preference for digital payments becomes more
prominent, and as the expectation of immediate access to earnings
grows exponentially, we need to enable more workers in the gig
economy with solutions that help them grow their businesses and
thrive," said Marco Margiotta, CEO
and Founding Partner at Payfare. "We work at the intersection of
the gig economy and payments, disrupting the traditional notions of
banking and pay cycles, and we are pleased to partner with Artist
Growth, a like-minded organization to further extend this vision to
the creator communities."
The Artist Growth Wallet app is available for iOS and Android
mobile users on the Apple App Store and Google Play
Store. The Artist Growth Wallet Prepaid Visa Card will be issued by
Stride Bank, N.A., member FDIC, pursuant to a license from Visa
U.S.A. Inc, and is subject to
eligibility.
1 2022
Creator Report by Linktree.
2 Creator Earnings: Benchmark Report 2022 by Influencer
Marketing Hub.
|
About Artist Growth
Artist Growth ("AG") delivers streamlined data management,
business collaboration and financial tools for artists and their
teams in an integrated, secure cloud-based platform. AG's tools are
designed to empower artists and creators of all types and scale to
sapphare information and coordinate their business activities in
real-time within an efficient and flexible workflow environment. AG
serves leading organizations in entertainment such as Universal
Music Group and Warner Music Group. Learn more at
www.artistgrowth.com.
About Payfare (TSX:PAY)
Payfare is a global financial technology company powering
digital banking and instant payment solutions for today's gig
workforce. Payfare partners with leading platforms and
marketplaces, such as Uber, Lyft and DoorDash, to provide financial
health for their workforce. Visit www.payfare.com.
SOURCE Payfare