LTK teams up with Stripe to pay creators instantly

Global influencer marketing platform LTK partnered with financial infrastructure platform Stripe on Thursday (July 14th) to power instant payments to creators on self-service solution LTK Connect, according to a press release.

LTK said the Connect solution helps brands of all sizes and budgets create and scale self-service creator programs that drive both awareness and sales.

Partnering with Stripe will reduce the time between creators’ completed work and payment from months to seconds, depending on the release. LTK said its creators generate more than $3 billion in retail sales annually from more than 6,000 global retail partners.

Stripe’s suite of products, including Stripe Connect, Stripe Billing and Instant Payouts, will help facilitate streamlined payments between LTK Connect brand partners and creators, the statement said.

“Simplified checkout flows mean we can extend our enterprise-level influencer marketing tools to brands of all sizes and budgets, and make serving their campaigns turnkey, efficient and seamless,” said Kristi O’Brien, Managing Director of Brand Platform. at LTK.

“Our LTK creators run small businesses and getting them paid efficiently not only strengthens their relationships with brands, but also means they can reinvest in their teams and businesses sooner,” O’Brien said. “Stripe’s shared mission of empowering creators’ success made them the perfect partner to help create this solution.”

Stripe Connect “allows businesses to facilitate purchases and payments between buyers and third-party sellers,” the statement said, while Stripe Billing “helps businesses easily manage their recurring revenue.”

Instant payments allow businesses to send funds to creators’ debit cards or bank accounts.

“LTK and Stripe are a great fit when it comes to accelerating the movement of money between brands and creators, especially in a time when no one knows exactly what’s going to happen next with the economy,” said Lily Jolly, head of creator products at Stripe. “We are proud to support LTK’s platform expansion to grow Internet GDP.”

Earlier this week, non-dilutive capital startup Capchase integrated with Stripe to make its services available on the Stripe App Marketplace.

Related: Capchase announces integration with Stripe

Stripe customers now have access to Capchase’s offerings — including its recurring revenue funding tool Capchase Grow — through Stripe’s interface without having to switch platforms.

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NEW PYMNTS DATA: HOW UTILITIES AND CONSUMER FINANCE COMPANIES CAN IMPROVE THE BILL PAYMENT EXPERIENCE

About: More than half of utilities and consumer finance companies have the ability to digitally process all monthly bill payments. The kicker? Only 12% of them do. The Digital Payments Edge, a collaboration between PYMNTS and ACI Worldwide, surveyed 207 billing and collections professionals at these companies to find out why going digital remains elusive.

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