Envato Rolls Out Brand-New Payout System
Envato has come a long way since our days as Active Den way back in 2006. And as we grow, it’s important that our systems and capabilities grow with us. That’s why we’re excited to be rolling out a new payout system to our Market and Elements Authors in 2023.
Why are we changing our payout system?
The way we pay our Authors is critical, as we’ve scaled to a business that has paid out over $1.3 billion to our Author community, including over $1 billion USD total earnings for our Market Authors alone.
We knew we needed to improve the way we pay our Authors by giving them more choice and more flexibility. This is intended to benefit our Author community and to support our Authors in succeeding with their creative endeavors.
The changes to our payout experience provide Authors with access to a wider range of payment options. It also allows them to benefit from potentially lower fees, faster transfers and more flexibility.
We know that every Author’s needs and preferences will be different. That’s why we’re including a wider range of payout options. The new system provides all the payout methods we used to offer, as well as additional options for Local Currency payments. It also allows us to introduce bank transfers as an option for our Elements Authors.
Under our new system, Authors can also add or update a new Payoneer account in the same way as other payout methods, reducing the need to contact Author Support.
We asked ourselves how we could improve and streamline the payout process of over 42,000 earning Authors in 173 countries.
Keri Thom Finance Director, Envato
How have we been rolling the new payout system out?
We began with a pilot group of Elements Authors in late 2022. Following its successful completion, we have been migrating batches of Elements Authors over to our new system in early 2023. Each month, we have brought more Authors onto our new system and phased out the old processes.
As at July 2023, we’ve finished migrating all of our Elements Authors onto our new system, and have begun with our first batch of Market Authors.
We aim to have all of our Authors being paid via our new system by the end of 2024.
When will I be paid on the new system?
All Elements Authors have already received emails directing them to set up their accounts in our new payout system.
We have started moving Market payments to the new system from July 2023, and are hoping to finish moving all our Authors to the new platform by the end of the year.
I need help setting up my payout method. Where should I go?
Please note: If you haven’t received an email instructing you to set up your new payout details, please don’t do anything.
You will receive an email when it’s your turn to move onto our new system
If you’ve been instructed via email to move onto our new payout system, and are having trouble, refer to the Help Center articles below.