Event Payment Systems: How You Can Get Paid Quickly And Easily
One of the main reasons you put on events is for the joy of bringing people together.
However, whether you're running a for-profit business or fundraising for a worthy cause, bringing in the cash is of utmost importance for any venue or organisation.
Your priorities when it comes to money are to make it super easy for your ticket buyers to pay for their purchases and ensure you get your funds quickly without outrageous fees.
For too long, taking payment has been a real hassle for venues and their customers. Inefficient systems mean buyers abandon their shopping carts and spend their money elsewhere. Big queues form at your event and things turn into a logistical nightmare.
Event Payment Systems: Payment processing for Your Events
Online payment processing offers a much easier option than visiting the venue ahead of time or calling the box office to arrange things over the phone. And it's a lot quicker – especially useful when you're running an event that's in high demand. Customers can use multiple payment options through a desktop computer, mobile web, or mobile app.
But it's not just about having the option to buy through the web. Online event payment systems have been around for a while, but they've often been limited to a single payment processor.
You might also find that they're not linked to booking systems (risking overbooking) or can't offer flexible purchase options.
Modern systems, however, are more unified, working with multiple payment platforms in different currencies and locations, meaning the ticket-buying experience can be truly versatile.
Nutickets integrates with payment providers around the world so you can collect the fees for your event, automate the process for issuing refunds, and make it simple for you to access the payments you receive.
That includes popular payment gateways like:
Stripe
Paypal
Barclaycard
Authorize.net
As well as alternative payment methods from around the world:
SimplePay (Hungary)
Tap Payments (North Africa)
Pay Tabs (Middle East)
+ many more.
Bottom line: You should consider the needs and desires of your audience when determining which payment gateway to use. It is beneficial to provide them with various options, rather than just one, so that they are able to find the solution that best meets their needs.
What's Hot Now: Staying on Top of Consumer Trends
“Buy Now Pay Later,” or BNPL is one of the hottest trends right now: 1 in 5 Americans used one of these services in the past year.
Offering a convenient and budget-friendly way for customers to pay for their purchases, shoppers can now enjoy the flexibility of paying for their purchases over time without incurring any additional interest or fees.
Just this year, we’ve hooked up with key players:
Klarna
Afterpay
Affirm
The premise is simple: Nutickets customers can buy a ticket for a fraction of its cost at checkout and pay the rest of it off over a few weeks or months.
To remain competitive and on top of the latest consumer trends, it is essential to partner with a software provider that is agile and can quickly adapt to changes in the market. This will help you capitalize on the most up-to-date consumer trends
Streamline your on-site revenue collection
On the other hand, using an event payment system on-site at the venue opens up plenty of ways to collect more cash.
Allow your visitors the opportunity to purchase tickets through a range of different methods - from online, to over the phone, to third-party booking agencies, to self-service kiosks, and even at your own EPOS.
An electronic point of sale (EPOS) system can be an effective tool to streamline the operations. It offers an integrated solution to facilitate the sale of tickets, gift vouchers, gift experiences, food, and merchandise.
You can accept in-person credit cards, debit cards, and contactless payments on the door at your events. Your POS will also record every transaction made in your visitor attraction, giving you access to sales data, patterns and trends.
Cashless at Events
Approximately two-thirds of payments in the United Kingdom are now done without cash, largely because of the convenience, speed and security when compared with cash.
In addition to contactless card payments and mobile payment apps such as Apple Pay and Google Pay, a new form of payment has emerged.
Event organisers can make use of RFID wristbands to purchase food, drink, merchandise and more with a tap. This means customers can show tickets and pay for purchases using a digital wallet stored on an RFID wristband, and use a simple mobile app to top up funds if they need to.
This sort of event payment processing is a great way to reduce queue times and encourage spending.
Understand what's going on
Decent event payment systems provide analytics functionality for much better insight into the financial performance of your events.
They can track transactions and keep records, which can be especially helpful for large events or for tracking donations at your nonprofit events.
You'll be able to monitor ticket sales and revenue trends in real time, so you can make quick decisions to adjust your strategy. Reporting gives you summary breakdowns about what customers are buying and when, so you can better understand their needs and predict what'll sell. Alongside detailed sales reports, you'll be able to see things like fees, charges and credits, to identify where money is coming in and out.
A clear picture of how people spend their money at your event gives event organisers valuable feedback – no need to wait for your accountant’s reports at the end of the month.
How do fees work? And do I get paid straight away?
When deciding which payment gateway is best for you, there are four criteria to take into account: the cost of transactions, the type of cards accepted, the ability to pay on-site, and the availability of recurring billing. It is important to select a processor that meets your requirements and fits within your budget.
When processing a payment, some payment gateways require a fee for utilizing their services. This fee is either a flat rate per transaction, a set percentage of each purchase, or a combination of both.
Pricing and fee structures will differ depending on which payment gateway you choose.
Most major credit cards (like Mastercard or American Express) will incur a charge when they’re used to pay. You can usually choose to absorb these card payment fees yourself or pass them on to the buyer through a fee at the point of sale. Unified payment platforms might charge a fixed processing fee plus a fee determined by the payment method, for example. Amounts usually don't go above 5% of the final payment fee.
When you sell things through payment gateways like Stripe, PayPal, and Google Pay, the funds will typically be transferred to your bank account within a few days, although the exact time can vary depending on the amount and your merchant account standing. For example, Stripe can process payouts daily or weekly, while PayPal lets you request disbursement at any time – but there may be delays due to security checks, usually, if you're new to the system.
Get paid from anywhere with Nutickets
Nutickets' event payment platform made it easy for you to sell tickets to your events, no matter where your customers were located. We allow you to accept payments from almost anywhere in the world and offer multi-language and multi-currency options. Plus, we have lots of local payment providers so you can find the best option for your
With our platform, you are able to successfully sell tickets to your events and make the process of managing ticket sales a breeze. Your customers were also happy, as they could easily purchase tickets in their own language and currency.
With Nutickets, you can accept online payment through Stripe, Authorize.net, Barclaycard, Apple Pay, Google Pay, PayPal, and more. Adyen is another payment gateway choice, offering a massive range of options.
And international events are catered for around the world, too: SimplePay (Hungary), Tap Payments (Middle East and North Africa), and PayTabs (Middle East) are some of our many options.
Our goal is to help you run your events business on a global scale.
So, if you're looking for a platform that can help you manage ticket sales for your events, look no further. Don't miss the chance to make your event a success, try our platform today!