A Quick Guide to EarlyPay
Over the last decade the online space has shifted to a content-driven marketplace where freelance content creators are providing nearly all of the content we digest. These creatives, writers, photographers, bloggers, and coaches are the backbone to backbone to the supply of the content that swirls the internet. And they deserve to be compensated in a timely manner for their work. While the digital space has embraced this new way of creating content, many of the long-standing business processes of the past no longer fit into the current brand <> creative landscape.
Today’s payment options often leave creators waiting net 30, 45, or 60 day terms to get paid, unsure if they’ll be able to afford things like rent, creative equipment, etc each month. Lumanu is introducing something new to this process. A product that provides creators with the confidence that they will be paid on time, every time, all while keeping your brand's payment processes the same.
What is EarlyPay?
EarlyPay is Lumanu's exclusive payment program that allows creators to cash out before the invoice due date and get paid on their terms, giving them more control over their business and finances. No extra steps required on your end. Same day funds transferred directly to the creator's bank account
How does it work?
Upon receipt of a qualified invoice from an EarlyPay approved creator, Lumanu validates that campaign deliverables are met and give the creator the option to receive payment ASAP (with a small feed). Once accepted, Lumanu assumes ownership of the invoice, and a brand then remits payment per instructions on invoices to Lumanu.
1. The creator opts into EarlyPay via text within the Lumanu App
2. The creator provides the following information to be admitted to the EarlyPay program:
a. Their phone number to text them updates from Luna, Lumanu's Assistant
b. A confirmation of name and email address
c. Successfully linked bank account within the Lumanu app
3. After the creator is approved, our team monitors their invoices to see if they’re eligible for EarlyPay. Creators are then notified about eligible invoices via text
4. The creator simply responds 'yes' or 'no' to the invoice text notification
5. If the creator replies 'yes,' we confirm with the brand that the invoice is correct
6. The creator responds 'yes' to our Terms and Conditions
7. We initiate payment and confirm with the creator via text that the payment is on its way
8. The payment is deposited directly into the creators bank account within 24 - 48 hours
When the finance team is ready to remit payments based on net 30, 45, or 60 day terms, simply click "Pay Now" on the Lumanu invoice to issue payment directly to Lumanu via ACH, PayPal, or Zelle.
If you have additional questions regarding EarlyPay, please contact firstname.lastname@example.org and we'll hop in to help!