Gigapay - streamlining creator payouts for global brands

Gigapay is a one-vendor solution designed to streamline the process of paying creators globally.

Gigapay helps businesses using influencer collaborations as part of their marketing strategy, such as e-commerce brands, navigating the complexities of compensating creators at scale. This end-to-end solution, acting as a merchant of record, removes the burden of tax reporting and compliance from brands, while unlocking the possibility to collaborate and pay influencers in more than 40 countries, without worrying about due diligence processes, payment methods, and with no extra compliance research. Additionally, using Gigapay reduces the time spent in invoice processing and bookkeeping by turning hundreds of invoices into a single invoice.

For creators, this means a smooth experience to collect their money on their own terms. Gigapay offers an easy payout process, which includes a simple self-onboarding, multiple payout methods, and EarlyPay for those who don’t want to wait for their standard payment terms. On top of these features, our team is available online to provide direct support for billing and onboarding matters to creators.

Businesses and creators love Gigapay because it is simple, fast, and removes worries behind sending and receiving money. Businesses using Gigapay see an increase in their NPS metrics and retention rates, attributed to offering a best in class payment experience to their creators.

Gigapay has been designed specifically for the needs related to payments and compliance in the creator economy space. This narrowed focus has allowed us to design a process and product that revolutionizes the way businesses handle their influencer payments and the way creators get paid.

Gigapay stands out in the market due to its unique approach to creator payments as a service. This solution allows businesses to expand their influencer operations to more than 40 markets, adhering to local tax regulations and without increasing their finance operational workload. This is possible because of Gigapay’s: Merchant of Record (MoR) model, where it takes full responsibility for tax reporting and compliance, removing this burden from the brands so they can focus on high-impact tasks; Single vendor setup, allowing brands to onboard individuals with or without a company which simplifies the due diligence process for accounts payables teams; Simplified mass payments, turning batch influencer payments into consolidated invoices, streamlining payment operations and simplifying bookkeeping. Instant payouts, where creators get paid within seconds of invoice payment from the client. For those who can’t wait, our EarlyPay solution makes it instant. Seamless creator experience, complementing instant payouts with a smooth self-onboarding experience and a dedicated support for billing and onboarding matters for a frictionless experience.

Contrary to our competitors, Gigapay narrows their focus on solving onboarding and payment challenges faced in the creator economy vertical, offering a tailored solution that streamlines the entire process from creator onboarding to payout, while ensuring compliance across multiple markets. This specialized approach allows Gigapay to provide a comprehensive and efficient service that addresses the unique needs of businesses working with influencers and creators, setting it apart in the market.

Gigapay’s focus has been to make payments simple for both businesses and influencers, which led to our innovative Merchant of Record model for creator payments. To double down on giving creators instant access to their payments, Gigapay has introduced EarlyPay, an innovative payment solution enabling creators to access their earnings ahead of their agreed payment terms. The launch of this feature comes as a response to a growing problem affecting the relationship between influencers and marketers: payment terms as long as 120 days, set by rigid financial and procurement processes that makes the change feel impossible.

EarlyPay allows the creator to collect the payment earlier than the set payment term for an added fee. This improves the experience of the creator, who is given a choice to access their money when it is more convenient to them, and for the business that can maintain its existing payment terms while still offering flexibility to creators.

The GOAT Agency, a global influencer marketing agency within GroupM Nexus, faced challenges in managing influencer payments in the Nordic market. Martin Leiva Godoy, Global Senior Manager, Business Excellence, mentioned that prior to implementing Gigapay, “the average monthly time allocated by two team members for managing influencer payments and related processes amounted to approximately 3 working days to process 20-40 invoices."

Implementing Gigapay in their processes helped GOAT streamlining their processes by decentralizing their payment responsibilities. With influencer onboarding handled, payments processed faster, and getting consolidated invoices per campaign, GOAT has that “the number of invoices processed on a campaign basis typically ranges from 5 to 15, which has greatly enhanced overall efficiency."

Martin mentioned that the time saved in administrative costs – that costs the business on average €130,000 per year – enabled for the business to adapt easily to their rapid growth, which “would have posed considerable challenges without the support of a partner like Gigapay, which enables GOAT to allocate its time and resources to other matters.".

"Anyone working in the influencer space, brands, and influencer marketing agencies should consider Gigapay if they want to save time and resources. Not only will Gigapay help make payments easier and faster, but they also ensure you stay compliant, with taxes and benefits covered." - Martin Leiva Godoy, Global Senior Manager, Business Excellence, The GOAT Agency

https://www.gigapay.co/