No matter what other cool or innovative features a ticketing platform releases, the most important question on the mind of every event producer regarding their ticket platform is “When do we get paid out?”.
This, truly, is a critical question. Events cost money to produce. Talent needs to get paid. Ticketing companies have sometimes historically run into situations that gum the up the cash flow. Not knowing the status of your event money can be stressful, and we’re happy to tell you that this time is over.
Multipass now features 100% full ticket payouts at the time of ticket sales.
How it Works
Working with a forward-thinking payment platform we have been able to set up a system where coordinate your ticket sales and the money goes straight into your account.
You get your ticket value, anything you charged for shipping, tax, or venue fees, and any additional credit card surcharge. We keep the service fee, which is automatically deducted by Stripe. You pay Stripe’s credit card fee (already rolled into our published rates), and with Stripe’s default setting you’ll you will see payouts for your ticket sales trickle into your bank account.
It’s easy… sell tickets, get paid.
Refunds and Disputes
With great money power comes great responsibility. What we mean by that is that since you now control all of your event’s cash flow, your Stripe account will also be responsible for any refunds or disputes that arise.
We have tools built into Multipass to help you manage refunds, so this process is still easy. You can grant full or partial refunds, if you choose.
Disputes are infrequent but are now also your responsibility to pay. Where the money goes, so goes the accountability. Keep enough money in your Stripe account, or your linked bank account, to cover a ticket or two, and your flow will be smooth.
Refunds and disputes account for less than one half of one percent of Multipass ticket purchases, so this won’t frequently come up, but it’s your money and it’s important you know how it flows.
Cash Flow Simplification
Your accounting just got easier, and so did ours. We used to be able to pay out some of your event income in advance but as a platform we also had to be responsible, making sure that the event happened, and we had to hold a buffer for uncertainties regarding returns. These new tools simplify everything.
Instead of paying some of your balance in advance, most of the rest shortly after your event, and the balance a little while after the event, we have eliminated the cash flow mystery. You never wonder how much is coming, or when it’s coming. Since you get paid immediately we will never be holding on to any of your money at all!!
The other amount that Multipass may hold back occurs when you take part in our promoter program. This programs lets you set up affiliates for your events, or to let other Multipass groups share your event, with a profit share.
If you are paying out a 10% commission on your event then your immediate payout would be the entire amount paid by the buyer with the Multipass service fee removed, and a 10% promoter payout removed. You will still receive 100% of the net amount due to you for the ticket sale, after your promoter gets paid. In the meantime, our program makes daily payouts to promoters. This trickle effect is good for morale and getting your tickets sold.
Note: if you cancel your event and refund tickets you will likely end up refunding your buyer the full purchase amount. Promoter fees are not reversible and you would be responsible for making up the difference. You can take this up with your promoters directly if the need arises, but the promoters will have done their work and will get paid. Most event producers choose to assume this risk as most events don’t get canceled and the potential upside is so much greater. That said, if this doesn’t work for you then you shouldn’t put your events into our promoter program.
Three Unique Killer Features
We were thrilled to recently announce our promoter platform. We see eyes light up when we tell event promoters about it. They love the way this streamlines and automates their flow.
We are extra-thrilled to add full, advance payouts to this mix. Your promoter cash flow is covered, and your event and talent pool is now in your hands. We have eliminated that worry, letting you focus on your actual event.
Our third killer feature is coming very soon: letting people e-sign waivers and terms of service at the time of ticket scanning. If you’re running a festival, or a members-only event, or simply need to cover your legal self for some reason, this helps you do that. Have your door person match a name to an id to a scanned ticket, get a finger scribble, and welcome them into your event.
We want to help you improve your event flow, and these are a few of the tools we’re giving you to make ticketing better!