Frustration with cross-border payout systems among marketplace sellers, content creators and gig workers, highlights a major opportunity for platforms and financial institutions to join forces to offer more efficient solutions.
From Amazon and Mercado Libre to TikTok, Instagram, and the freelance hubs Fiverr and Upwork, online platforms and marketplaces are building profitable businesses by enabling digital entrepreneurs to generate income accessing both local and global markets. Yet, one of the biggest concerns for these entrepreneurs is still when and how they will receive their money. A new global research project commissioned by Visa to Payments and Commerce Market Intelligence (PCMI) has shown that digital platforms could appeal to online marketplace sellers, gig economy workers and digital content creators by providing fast, seamless, transparent, and convenient solutions for both domestic and cross-border payouts¹ (read the whitepaper analyzing the survey results and an infographic with key insights).
In this rapidly evolving digital landscape, efficient payout systems are crucial for retaining and attracting digital entrepreneurs, presenting a major opportunity for platforms and financial institutions willing to drive change.
Shared Payout Challenges
Sector-Specific Differences
While marketplace sellers, content creators, and gig workers share similar challenges, they also have distinct needs.
Marketplace Sellers: Transforming Marketplace Payments Solutions for Seamless Cross-Border Transactions
Revolutionizing Content Creator Payment Solutions for Efficient Cross-Border Payouts
Gig Workers: Faster Payouts for On-Demand Workers
Visa Direct: Empowering Digital Platforms for Payout-led Growth
Platform Risks
Overview
Core Payout Platform Challenges Across Digital Industries¹
- Delays: Digital entrepreneurs prioritize quick access to their funds, with 90% of respondents considering it "very" or "extremely" important. The share exceeds 95% in countries with widely used domestic RTP solutions, such as Brazil and India, indicating that once instant payouts become the norm, people can no longer tolerate waiting for days to receive their cross-border transfers. Slow payouts can hinder their ability to cover expenses and reinvest in their businesses.
- Cost: High transaction fees and unfavorable exchange rates are major pain points. When entrepreneurs were asked in a multiple-choice questionnaire what they disliked about their platforms’ payout structures, top grievances included high transaction fees, mentioned by 23% of respondents, and high foreign exchange rates, cited by 19%.
- Limited Payout Options: Flexibility in payout methods and 24/7 access to funds are critical, especially for gig workers and content creators who rely more on frequent payments. Many feel that the payout method choices are imposed by digital platforms, disregarding their preferences; 13% reported that their preferred transfer method was not available among the options provided.
- Lack of Transparency: Clear communication about fees, exchange rates, and real-time tracking of payment statuses are valued.
- Security Concerns: Security is a top priority, with users favoring payment systems backed by trusted brands like Visa and other major groups. Security features were the second most cited when digital entrepreneurs were asked about what they valued in a platform's payout system.
Marketplace Sellers: Transforming Marketplace Payments Solutions for Seamless Cross-Border Transactions²
Industry Context
As digital marketplaces reshape the global retail industry, a fierce digital gold rush is underway. Giants like Amazon, eBay, and Latin America’s Mercado Libre face strong competition from Asia Pacific players like AliExpress and Temu, as well as niche platforms focused on specific segments. In recent years, most marketplaces have focused their expansion strategies on attracting buyers. Yet, it is now clear that this is a two-front battle. If increasing their user base is crucial, it is also vital to address the needs and preferences of online sellers – and particularly, the demand for fast, transparent, and seamless cross-border payouts.
According to the survey by Visa and PCMI, 70% of marketplace sellers would consider switching platforms if offered better payout solutions (see the full results in the online marketplace seller white paper). For marketplace sellers, traditional methods for international transfers, like bank deposits and wires, remain slow, costly, and complex. Funds need to travel through several fee-charging intermediaries before reaching their destination. Currently, online marketplace sellers may need to wait for days, or even weeks, to receive their payouts.
Challenges for Marketplace Payment Platforms
- Delays: For sellers, delays in receiving payments can lead to cash flow problems and hinder their ability to reinvest in their businesses. Ninety percent of interviewees consider payout speed to be “very” or “extremely” important, with 94% stating that it has a direct impact on their businesses. The share of sellers valuing speed tends to be even higher in countries with strong RTP solutions in place, such as Brazil, India, and Thailand.
- Cost: When asked what they disliked about their platforms' payout structures, 23% of sellers mentioned high transaction fees and 18% reported unfavorable foreign exchange rates, making these the two most cited issues.
- Limited Payout Options: Marketplace sellers also want more flexibility in payout methods and control over how and when they receive their money. For instance, 11% of interviewees said their preferred payment option was not offered by their marketplaces. Additionally, 15% complained about not being able to access their money during non-business hours.
- Lack of Transparency: Another major demand from sellers is for an efficient system to track transfers’ statuses: 11% of interviewees mentioned "lack of transparency" as an issue in their platforms’ payout structures.
- Security Concerns: About 15% of sellers reported concerns about the security of their payments. This likely helps to explain why a third of sellers said they value platforms that offer transfer methods “backed by globally recognized payment brands”, like Visa and other major groups.
Opportunities for Growth for Marketplace Payment Solutions
When asked how faster payouts could impact their business, over half of online marketplace sellers said they would reinvest the money, sell more products, and/or improve their cash flow management. This suggests that speeding up payouts could increase the economic activity within marketplaces’ ecosystems, boosting growth, and fostering loyalty from sellers.
According to the PCMI Global E-Commerce Data Library, e-commerce in Latin America will reach US$1 trillion in volume by 2027—and 17% of that volume will come from cross-border e-commerce. While cross-border currently represents only 11% of e-commerce volume in Asia Pacific (excluding China), this 11% is part of a massive—and growing—overall pie: APAC e-commerce reached US$1 trillion in volume in 2024 and will surpass US$1.5 trillion by 2027. PCMI also projects solid growth for EMEA’s e-commerce in the coming years.³ As such, there is a massive opportunity for marketplace operators and financial institutions to tap into if they join forces to unlock this process of “payout led” growth in their ecosystems by enhancing platforms’ cross-border payout structures.
One clear example is that, according to the PCMI/Visa survey, over 70% of online marketplace sellers are willing to pay a small fee for instant payouts – an opportunity for financial institutions and marketplace operators to collaborate to advance such an offering.
Beyond these opportunities, supporting small businesses to improve their cash flow and accelerate their growth has consistently proven profitable. Most banks have dedicated departments focused on understanding the financial needs of companies across various sectors, finding ways to support them, such as by advancing funds in specific situations.
However, the financial demands of online marketplace sellers operating internationally, particularly their payout needs, have often been overlooked. Now, this opportunity is available in a rapidly evolving landscape that connects millions of sellers with billions of buyers worldwide.
Opportunities for Financial Institutions in Marketplace Payment Platform Growth
Marketplace operators and their financial partners must consider the declining popularity of traditional payout methods like bank deposits and international wire transfers, known for their complexity, high-costs, and slow speed.
At the same time, alternative payment options offering speed and convenience for international transfers, such as digital wallets and new strategies involving real-time debit card operations are becoming increasingly popular.⁴
To better serve sellers, marketplaces’ payout structures must integrate a variety of alternative payout methods, not only ensuring a frictionless cash-out experience, but also aligning with local and individual preferences. Indeed, some innovative payout solutions that are gaining strength today combine various systems, such as RTPs, wallets, and cards, leveraging multi-rail networks to accelerate both international and domestic payouts.
Visa Direct is a notable example of these money movement innovations, facilitating real-time⁵ payouts in 160 currencies and 195+ enabled countries and territories. Visa Direct utilizes Visa’s digital payments network to support the full lifecycle of real-time⁴ money movement — helping transform the way that money is collected, held, converted and sent globally.
By collaborating with financial institutions and/or fintechs to address sellers’ main payout pain points, marketplace operators can not only retain and attract more merchants to their platforms but also help them grow their businesses. For financial institutions, it is also reasonable to assume that assisting marketplaces in achieving this coveted stage of “payout-led growth” can improve their ability to acquire and retain customers. Ultimately, initiatives in this area can enable financial institutions to grow deposits and maintain larger account balances, as well as explore alternative revenue sources.
Revolutionizing Content Creator Payment Solutions for Efficient Cross-Border Payouts⁶
Industry Context
Platforms that fail to address content creators’ payout needs and preferences risk losing these key partners to competitors with more efficient cash-out processes. In fact, more than 7 in 10 (73%) of surveyed creators are willing to leave their current platform if competitors can offer better payout options. Due to dissatisfaction with current payout structures, digital content creators are increasingly seeking independent monetization models. These alternative strategies include direct brand deals, merchandise sales, affiliate marketing, and event organization, which do not rely on platform payout structures (the “disintermediation” risk).
PCMI/Visa’s research, conducted across 14 countries in three regions, mapped the payout needs and preferences of digital content creators. A significant share of interviewees complained about having to wait weeks for their payouts, and nearly a tenth expressed distrust in their platforms (see the full results in the content creator white paper).
Challenges for Content Creator Payment Platforms
- Delays: Among the three categories analyzed, content creators experience the longest wait times to be paid, which helps explain why they singled out “payment speed” as the second most disliked feature of platforms' payouts. Around 19% of interviewees complained about slow payouts and 90% said payout speed is “very” or “extremely” important. Creators in countries with widely adopted Real-Time Payments (RTP) solutions, like Brazil (with PIX) and India (with UPI), expect faster cross-border transfers.
- Cost: High transaction fees are their most frequent grievance: almost a quarter of interviewees complained about this issue. Another major concern is high exchange rates, mentioned by a fifth of creators.
- Limited Payout Options: Content creators also want greater flexibility in payout methods and control over when and how they receive their payouts. For instance, 22% of respondents complained that companies require them to reach minimum amounts to receive payment. Another 15% said their preferred payout method was not offered by their platform.
- Lack of Transparency: Unfortunately, "Where is my money?" remains a common question among content creators receiving cross-border payouts: 15% of interviewees complained of “lack of transparency” in their transfers status.
- Security Concerns: 18% of respondents expressed concerns about the security of their payments. This likely explains why “access to transfer options backed by globally recognized payment brands” like Visa is the most valued payout feature for digital content creators, as it was mentioned by a third of interviewees.
Opportunities for Growth for Content Creator Payment Solutions
- Inefficient payouts are a real burden for digital content creators, who rely on timely payments to cover expenses and expand their businesses. With a fifth of creators reported to be struggling financially, and 76% of them cashing out weekly or less often, offering more frequent cash-out options could provide much-needed financial relief. In addition, almost half of interviewees said they would use the resources from faster payouts to cover "urgent expenses.” Efficient payouts could help these creators improve their economic well-being, fostering user loyalty towards the platforms and financial institutions supporting this movement.
- An efficient payout system can help content creators be more productive: Fifty three percent of interviewees say they would use the resources from faster payouts to accelerate their businesses; 61% would create more content; and 56% would improve their cash flow management. These intentions help explain why 78% of creators are willing to pay extra for an instant payout solution, despite the perception that fees are already high — a clear opportunity for content platforms to collaborate with providers to go to market with such an offering.
- Digital content creators may seek ways to be less reliant on platforms for monetization if social media platforms continue to ignore their cross-border payout needs. Typically, creators employ various monetization strategies — and only some of them depend on platforms' payout structures. For instance, creators can receive a share of the money paid by advertisers for ads displayed on their videos or earn from subscription services and fan donations. Some platforms have also experimented with programs that pay influencers directly for content achieving high numbers of viewers and engagement.
Among the monetization strategies that do not depend on platforms’ payouts, creators can strike direct brand partnerships with third-party companies, sell merchandise through various online channels, or participate in affiliate marketing programs where they recommend products from e-retailers by sharing traceable links to their pages. Today, direct brand deals can offer creators significant earning potential and provide an alternative to relying on platform revenues. By improving their payout structures, content creator platforms can more effectively persuade creators to embrace new in-house monetization options, including initiatives to ensure that brand deals are closed within their structures.
Opportunities for Financial Institutions in Marketplace Payment Platform Growth
As content platforms work to refine their cross-border payout strategies to better meet content creators’ needs, they must consider a recent trend: traditional methods like bank deposits and international wire transfers, known for their complexity, high costs, and slow speed, are gradually losing popularity. While these methods may still hold some relevance, especially if their pain points are addressed, alternative payout options that offer speed and convenience for international transfers, such as digital wallets and new solutions involving real-time debit card operations, are steadily becoming more attractive.⁷
In addition, solutions that integrate a variety of alternative payout methods can not only provide a frictionless cash-out experience but can also cater to local and regional preferences. The PCMI/Visa research indicates that payout method preferences can vary significantly across different countries, so having a system that is flexible to specific payout preferences is a good way of ensuring all creators can benefit from payout options available to them. Advanced solutions frequently use multi-rail structures and combine different systems—ranging from Real-Time Payments (RTPs) to digital wallets and traditional card networks—to expedite both international and local payouts.
Visa Direct is a prime example of these money movement innovations facilitating real-time⁴ payouts, operating in 160 currencies and 195+ enabled countries and territories. Visa Direct utilizes Visa’s digital payments network to support the full lifecycle of real-time⁴ money movement – helping transform the way that money is collected, held, converted, and sent globally.
In recent years, digital content creators have evolved from being a nice-to-have element in marketing plans to a fixed line item in budgets across various industries. By empowering these creators with efficient payout structures, platforms can not only enhance their ability to monetize their role as intermediaries between viewers, creators, and companies, but also accelerate the growth of this high-potential ecosystem.
Gig Workers: Faster Payouts for On-Demand Workers⁸
Industry Context
Many online gig workers around the world are fed up with cross-border payments from platforms: they take far too long to arrive. In fact, more than 7 in 10 of them (73%) are so frustrated with how they receive their cross-border payouts that they want to switch to platforms offering better solutions. Additionally, 74% of online gig workers can only cash out weekly—and in some cases, even less frequently. This could be why 80% would be willing to pay a small fee for instant cross-border payouts.
This frustration came to light during PCMI/Visa’s research that sought to map online gig workers' cross-border payout needs and preferences (see the full results in the freelance worker white paper). The companies surveyed more than 2500 online gig workers in 13 countries—and their significant dissatisfaction with platforms’ payout structures represents a massive opportunity for platforms and financial institutions that are willing to drive change in this sector.
Freelance platforms enable online gig workers to create profiles showcasing their skills to potential clients and use built-in systems to receive remuneration. Some platforms serve a broad range of skilled professionals, while others focus on specific sectors such as creative arts, online education, health, and wellness. For instance, Hotmart caters to digital content creators, and Udemy is a marketplace for creators of online courses.
For many companies around the globe, freelance platforms have offered a flexible and efficient way to access talent on demand, avoiding the costs and commitments associated with permanent hires. Yet, attracting and retaining a robust talent pool can be challenging for these platforms, especially in high-demand sectors. That is why addressing gig workers’ payout concerns can be crucial for platforms aiming to gain a competitive edge.
Challenges for Freelancer Payment Systems
- Delays: For many freelancers, gig work is their primary source of income, making timely payments crucial for covering personal and professional expenses, including mortgages, bills, and other financial obligations. Additionally, online gig workers rely on these payouts to reinvest in their businesses. It is not surprising, then, that 90% of them consider payout speed to be "very" or "extremely" important, with 60% saying it has a direct financial impact on their businesses. This also explains why slow transactions are cited as a disliked feature by 15% of interviewees in a multiple-choice questionnaire, with nearly a tenth of interviewees identifying it as the worst issue with platforms' payout systems. The demand for faster and more convenient cross-border payouts is particularly high in countries with strong digital wallets or Real-Time Payment (RTP) solutions, such as Brazil (with PIX) and India (with UPI). This trend suggests that once people experience fast and seamless domestic payments, they expect similar efficiency for their international transfers.
- Cost: When asked what they disliked about their platforms' payout structures in a multiple-choice questionnaire, 24% of interviewees mentioned high transaction fees and 19% unfavorable foreign exchange rates. A quarter of online gig workers also identified either high transaction fees or unfavorable foreign exchange rates as their top payout concern, indicating that reducing transaction costs should be a priority for platforms aiming to attract and retain global talent.
- Limited Payout Options: As an indication of online gig workers’ frustration with their lack of control over when and how they receive their payments, 51% of interviewees cited various “inconvenience” issues as their primary payout issue. Specifically, 13% mentioned platform policies requiring them to reach a minimum amount to cash out as their main concern, while 11% identified the inability to access their money outside specific timeframes as their top grievance. In addition, 14% of interviewees noted that their preferred payout option is not available on their platforms.
- Lack of Transparency: A major demand for gig workers is for an efficient system to track the status of their cross-border payouts: 13% of interviewees mentioned "lack of transparency" as an issue with their platforms’ payout structures, with 7% citing this as their main payout problem.
- Security Concerns: 16% of interviewees worry about the security of their payments, with 8% citing this as their top payout concern. This likely helps to explain why gig workers appreciate platforms that offer cross-border transfer methods “backed by globally recognized payment brands,” like Visa and other major groups — a feature valued by a third of interviewees.
Opportunities for Growth for Freelancer Payment Systems
For freelance platforms, a major risk of ignoring online gig workers' payout frustrations is losing key talent to competitors with more efficient payout solutions. A major advantage for gig workers using these platforms, as opposed to working independently, is that they don’t have to spend a lot of energy tracking payments and can feel secure about receiving compensation. Another risk is that workers and companies who meet through the platforms may choose to do business directly, bypassing intermediary fees, which is known as the “disintermediation” risk.
Conversely, there are indications that addressing online gig workers’ cross-border payout needs may lead to an increase in economic activity within the platform’s ecosystem, fostering a profitable dynamic of “payout-led growth.” For instance, 60% of interviewees said that, if granted quick access to payouts, they would reinvest the money into their working structure and take on more work. Another 55% say faster payouts would have a positive impact on their cash flow. Finally, 47% said they would use the funds to cover urgent expenses — which is particularly relevant given that one in five interviewees reported struggling financially.
Opportunities for Financial Institutions in Freelancer Payment System Growth
The most efficient strategy for improving platforms’ payout experiences appears to be creating flexible systems that can integrate a variety of alternative payout methods. This approach ensures not only a frictionless cash-out process but also alignment with local preferences, which, as the PCMI/Visa research indicates, can vary significantly.
Traditional methods for cross-border transfers, such as bank deposits and international wire transfers, remain costly and complex. However, a wide range of innovative payout solutions today combine various systems, such as RTPs, wallets and cards, leveraging multi-rail networks to accelerate both international and domestic payouts.
Visa Direct is an example of such innovations, operating in 160 currencies and 195+ enabled countries and territories. Its system offers not only a connection point to domestic RTP rails but also access to over 3.5 billion digital wallet endpoints, as well as Visa’s extensive global reach, which includes access to over 4 billion card and 3.5 billion bank account endpoints globally.
The urgent need for freelance platforms to improve their payout structures can be most efficiently addressed through collaboration with financial institutions and fintechs — who can offer services like Visa Direct. This effort will also help financial institutions and fintechs establish a foothold in a rapidly growing market, where the payment infrastructure is ripe for disruption. By strategically positioning themselves in this promising sector, fintechs and banks can expand their client base and explore new revenue streams. Banks can also use this as an opportunity to grow deposits. Ultimately, by unlocking a profitable dynamic of payout-led growth, initiatives to improve payouts for freelance professionals can boost the gig economy ecosystem, benefiting online workers, platforms, and financial institutions alike.
Visa Direct: Empowering Digital Platforms for Payout-led Growth
Payout issues are pushing digital entrepreneurs to other platforms and payout structures.
However, there is a silver lining. The research data also suggests that speeding up payouts could lead to an increase in economic activity within the platforms' ecosystems, fostering loyalty from digital entrepreneurs and unlocking a positive cycle of “payout-led” growth. This is precisely where partnerships between digital content platforms and financial institutions and/or fintechs can play a major role in driving positive change.
Platforms that address common challenges such as speed, cost, convenience, transparency, and security can drive "payout-led" growth within their ecosystems. Financial institutions have a significant opportunity to collaborate with platforms and offer innovative payout solutions, ultimately benefiting from increased deposits and new revenue streams.
Part of entrepreneurs' frustration with platforms' payout systems arises from the inefficiencies of traditional cross-border transfer methods. In bank deposits and international wire transfers, the money typically flows through several fee-charging intermediaries in complex systems before reaching its destination, which drives up costs and prolongs the wait time for recipients. These two methods are today notoriously slow, complex, and costly — and yet, 48% of respondents still reported receiving their payouts through one of them.
In the medium and long run, however, these traditional payout methods are likely to lose preference among platforms and marketplace operators, although they may retain some relevance (particularly if there are improvements in their major pain-points). Meanwhile, innovative solutions that can deliver convenient and instant cross-border transfers are likely to keep on gaining traction. Among these solutions are, for instance, the integration of RTP systems and card networks to enable faster transfers. Partnerships between platforms, financial institutions, and digital wallets can also provide secure and convenient real-time payout options. In addition, with the support of financial institutions and organizations, platforms can adopt multi-rail payout structures to enhance the speed of both cross-border and domestic payouts by ensuring access to several underlying payment networks.
Visa Direct is a clear-cut example of money movement innovation, facilitating real-time⁴ payouts in 160 currencies and 195+ enabled countries and territories. Utilizing Visa’s digital payments network, Visa Direct supports the full lifecycle of real-time⁴ money movement, helping transform the way that money is collected, held, converted, and sent globally. The system offers users not only a connection point to domestic RTP rails but also access to Visa’s extensive global payment rails, including cards and Automated Clearing House (ACH) structures. Additionally, Visa Direct integrates with wallets and enables Original Credit Transactions — a financial transaction that delivers funds directly to a recipient’s bank account through an eligible card.
In an increasingly competitive online space, platforms and marketplaces offering digital entrepreneurs fast and seamless payouts will be better positioned to grow sustainably. Banks willing to tap into the vast potential of this emerging market must also be well equipped to support platforms in this journey.
- Source: VISA/PCMI survey of 8,013 online marketplace sellers, gig workers, and content creators carried out in September 2023.
- Source: VISA/PCMI survey of 2,800 online marketplace sellers carried out in September 2023.
- The E-Commerce Data Portrait of Asia Pacific, Payments and Commerce Market Intelligence, November 2024.
- Payments and Commerce Market Intelligence (PCMI), “Top Global Payment Methods and Trends”, PCMI website, February 3, 2024, https://paymentscmi.com/insights/top-global-payment-methods/, accessed April 2024; “Fintech for Marketplaces and Platforms", Report–Paypers, 2024.
- Actual funds availability depends on receiving financial institution and region.
- Source: VISA/PCMI survey of 2,566 content creators carried out in September 2023.
- PCMI. “Top Global Payment Methods and Trends.” 2024.
- Source: VISA/PCMI survey of 2,649 gig workers carried out in September 2023.
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