Why payment plans matter to event organizers?
Payment plans help break down the upfront financial barrier for customers by allowing them to spread the cost over manageable installments.
This flexibility broadens the potential audience, attracts early sales commitments, and enhances customer satisfaction by making events more attainable for budget-conscious fans.
Event organizers on Eventcube have access to two flexible payment plan options that help make ticket purchasing easier and increase sales:
Buy Now, Pay Later (BNPL)
Eventcube integrates popular BNPL providers such as Klarna and PayLate via its payment processing gateway, Stripe. With BNPL payment methods, customers can split ticket payments into multiple interest-free installments.
BNPL payment methods are enabled in your own Stripe account.
How BNPL works
Customers choose BNPL at checkout and pay the BNPL provider over installments ranging from weeks to months.
Meanwhile, organizers receive full payment upfront from the BNPL provider, transferring default risk away from the organizer.
Benefits of BNPL
It increases accessibility for customers hesitant to pay the full price upfront.
It offer immediate payments to event organizers.
You can use a wide range of provider options with global reach.
Things to consider with BNPL
BNPL providers charge fees to organizers (around 2-8% per transaction). This is automatically taken from your total at point-of-sale.
Organizers rely on BNPL providers to manage late payments or defaults.
Organizers have limited control over installment scheduling.
Not all customers are qualified to use BNPL as it's dependent on their credit history.
Deposit Tickets (Eventcube’s In-House Split Payment System)
Deposit Tickets is Eventcube’s proprietary layaway-style payment plan where organizers directly manage installment payments within the Eventcube platform.
Customers pay a deposit upfront to reserve their ticket and pay remaining balances in scheduled installments before the event.
How it works
Customers pay an initial deposit to reserve their ticket. Eventcube tracks installment payments through the organizer’s dashboard and sends automatic reminders to customers. Tickets are only fully issued once the balance is fully paid.
Note: Depending on the organizer's refund policy, they can issue a partial or full refund if customers fail to settle their balance before the event day (deadline).
Benefits of Deposit Tickets
Organizers have full control over installment schedules and payment management.
Built-in payment tracking and customer communication within Eventcube.
Greater flexibility in payment terms tailored to organizer needs. For instance, the organizer can extend the payment term.
Things to consider with Deposit Tickets
Tickets may remain provisional until payment completion.
Organizers are responsible for enforcing payment policies including cancellations for missed installments.
The risk of non-payment remains with the organizer until full payment is collected.
Summary:
Feature | Buy-Now, Pay-Late | Deposit Tickets |
Payment Handling | Store owners are paid upfront by the BNPL provider | Store owners are paid the deposit amount upfront and as each milestone is settled |
Payment Control | Managed by BNPL provider | Fully managed by the store owner/organizer in Eventcube |
Payment Flexibility | Limited to provider plans | Fully customizable by organizer |
Customer Communication | Handled by BNPL provider | Managed via Eventcube with automated reminders |
Ticket Issuance | Immediately after purchase | Issued after full balance received |
With these options, Eventcube empowers event organizers to offer flexible payment solutions that enhance customer convenience and optimize revenue collection.
Why you Should Offer Both Payment Plans
Offering both Buy Now, Pay Later via the Stripe Integration alongside Eventcube’s Deposit Tickets option provides event organizers with the best of both worlds.
By enabling BNPL options via Stripe and creating Deposit Tickets, you can ensure no potential attendee is left behind due to payment constraints.
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