Sellout’s Guide to Payment Processing for Events
Published Dec 11, 2024
Payment processing is the backbone of seamless ticket purchasing. If your goal is to build trust with fans while simplifying event ticketing, then understanding the role of payment processing for events you host in shaping attendee satisfaction is key. Discover how the payment gateways and processors we use at Sellout can help max your sales and elevate event experiences for fans.
Sellout’s Guide to Payment Processing for Events
What are Payment Gateways & Processors?
Payment gateways and processors are digital point-of-sale systems that help facilitate transactions between fans and your bank. They operate like the stage crew at a concert. Payment gateways and processors help manage the financial interaction between excited fans and the main show while ensuring the experience goes off without a hitch.
They go to work when a customer enters their payment information during checkout. The payment gateway securely sends this information to the payment processor for approval. The payment processor, in turn, checks to see if the funds are available and if the transaction is legit. Once approved, it gives a green light to the payment gateway, and the purchase is completed in seconds. Examples of payment gateways and processors include Stripe, PayPal, and Apple Pay. These payment gateways securely handle transactions and let you accept fan payments online, in mobile apps, or in person.
How Payment Gateways & Processors Work with Ticketing Platforms
When payment gateways and processors are integrated into a ticketing platform, fans can easily buy tickets to an event without the hassle of being bounced to another site. By providing a one-step ticket purchasing process, fans can complete their transactions more conveniently, quickly, and all in one place. This one-step purchasing process also minimizes cart abandonment and can boost your sales. These faster and more secure transactions help build trust with fans so they feel confident that their payment information stays safe.
Key Payment Gateway & Processor Features
A good payment gateway and processor ensures smooth and secure transactions that maximize ticket sales. Important features that payment gateways and processors should include are:
Multiple Payment Methods: Fans appreciate convenience and flexibility, so look for gateways that allow your fans multiple ways to buy their tickets, such as with credit and debit cards or digital wallets.
Security Measures: Fans also value their security, so use gateways that protect your fans’ purchases with secure encryption and fraud detection.
Real-Time Analytics: Understanding insights into ticket sales and revenue can give you the helpful data you need to plan future events. So, look for gateways that offer robust data on how your event is performing.
How Sellout Integrates Stripe with Payment Solutions
When payment gateways and ticketing platforms don’t work well together, it can lead to issues like double charges, failed transactions, and delayed payouts. That’s why Sellout uses secure payment gateways, like Stripe, for event organizers.
Sellout and Stripe together act as both payment gateways (securely transmitting fan purchases) and processors (handling transactions between your bank and Sellout) in one integrated service. As an event organizer, you face significant costs early in the event planning process, including deposits for venues, equipment rentals, paying staff, and more. Without access to funds whenever you need them, covering these essential expenses can be a struggle. As a payment solution that is both a payment gateway and processor, Sellout and Stripe put the power in your hands to decide when you want to be paid out. With Sellout and Stripe, you can choose to get paid after the event or paid on a weekly basis. The choice is yours.
How to Set Up Payments with Sellout
Setting up payments with Sellout is a simple process that only takes a few steps and is automatically built into your account registration. Here are the steps to setting up payments that you should follow:
Begin Sellout Account Setup: Start on the Sellout platform and create your Sellout account.
Link or Create Stripe Account: During setup, you’ll be prompted to enter your existing Stripe ID (if you already have one), or you’ll be automatically directed to Stripe’s website to create a new account.
Complete Stripe Account Setup: If you need to create a new account, follow the Stripe registration process. Once your Stripe account is created and verified, you’ll then be redirected back to Sellout.
Return to Sellout’s Dashboard: After successfully linking your Stripe account, the system will direct you back to Sellout’s backstage dashboard. This is where you can manage all aspects of your event: creating events, monitoring ticket sales, and more.
Stripe is Mandatory: Finally, account registration on Sellout cannot be completed without linking to a Stripe account. This ensures that you are set up to get payments right from the start.
How to Maximize Ticket Sales with Multiple Payment Options
With ticket prices climbing, especially for high-end experiential festivals, fans can find it tough to shell out large sums upfront. The fan experience starts the moment they click “buy,” if that process feels frustrating, it sets a negative tone for the whole event. At Sellout, we’re all about helping event organizers create epic experiences, and by offering flexible payment options, we make sure fans can pay how they prefer—and that no one misses out on the fun.
Giving attendees plenty of ways to pay keeps them happy, fosters trust, and makes them more likely to come back for your next big event. Fans who aren’t given an option to buy tickets with their preferred payment method can often abandon their purchase. By offering a variety of choices, such as credit/debit cards, digital wallets, etc., event organizers can minimize the chance that potential fans will leave the checkout process. Doing so can lead to more completed transactions, thereby boosting your sales.
How Payment Solutions Prevent Payment Fraud at Events
The fan experience begins with secure and fair ticketing. That experience carries through the entire event and is part of our ethos at Sellout, which is to always “protect the fan.” Payment gateways like Stripe, Google Pay for events, and others use a variety of advanced security measures to safeguard transactions and protect customer data when processing payments.
For example, both Stripe and Google Pay utilize Secure Socket Layer and Transport Layer Security encryption to ensure that sensitive data, such as credit card numbers and personal info, are securely transmitted between the ticket buyer, you, the event organizer, and the payment processor.
Also, most major payment gateways have to be Payment Card Industry Data Security Standard (PCI DSS) compliant. This ensures that strict security protocols are in place to protect cardholder data during payment processing.
Additionally, gateways like Stripe Radar and Google Pay’s fraud prevention use machine learning to detect and block fraudulent transactions by analyzing transaction patterns and identifying potential fraudulent activity in real time.
For fans, safeguarding transactions ensures a smooth, safe purchasing experience and encourages them to buy tickets with confidence. For you, the event organizer, it helps prevent fraudulent transactions so you face fewer chargebacks (where fans dispute transactions). It also helps build strong relationships with fans, encouraging them to return for future events time and time again.
Helpful Tips to Ensure Secure Transactions
When it comes to securing transactions, you can take a couple of steps to ensure both your event and the fans are safe from risk. Here are a couple of tips:
Share Your Business Track Record: When you've hosted multiple successful events, it gives payment processors like Stripe confidence in your reliability. Providing Stripe with your detailed business information—like how often you organize events and your track record—can significantly reduce any perceived risk, especially for first-time users. Recurring events show consistency, which lowers the chances of issues like cancellations and chargebacks.
Separate Accounts to Minimize Risk: Stripe places certain restrictions on events, especially those that may feature lewd content, alcohol, or firearms. To avoid being flagged by Stripe, we recommend creating separate Stripe accounts during the registration process, one for music and one for concessions.
Incorporate the “Get Tickets” Button Directly on Your Website: With Sellout, you can embed the "Get Tickets" button directly on your site to enhance reach and maintain security. This integration with payment systems like Stripe optimizes the purchase process, allowing fans to buy tickets without redirection, reducing cart abandonment and boosting sales. The seamless setup builds trust by ensuring payment security and simplifying transactions, improving the overall buying experience.
Future Proofing Your Payment System
Bowie once said, “Tomorrow belongs to those who can hear it coming.” He was right. Event payment tech is moving at the speed of sound, and with it, payment system trends are on the rise. Fans can now buy tickets with contactless payments, buy-now-pay-later options, and even cryptocurrency.
At Sellout, our mobile scanning app is like having a box office in your pocket. You can manage all the headaches of guest check-in with an easy-to-use app. With a couple of taps, you can check guests in, search for a name in will call, or even sell an extra ticket. It's that simple; no fancy equipment is needed.
By future-proofing your payments, you'll have fans breezing through checkout, paying how they want, and feeling safe doing it. Happy fans equal more sales.
Payment Processing for Events FAQs
Question: When do I get paid?
Answer: Stripe puts the power in your hands to decide when you want to be paid out. With Stripe, you can choose to get paid after the event or paid on a weekly basis. The choice is yours.
Question: How do I get paid?
Answer: We understand how vital your operating capital is. That’s why Sellout will send payments directly to your bank account daily.
Question: What is the cost of getting paid?
Answer: At Sellout, our ethos is to elevate event organizers. We’re here as partners in the trenches with you, offering fair pricing. You can choose to absorb or pass ticketing fees to buyers and price tickets your way with flexible options. That’s more money back in your pocket.
Need Event Payment Solutions to Max Ticket Sales?
The last thing you want to do is lose sales because the ticket-buying experience wasn’t seamless. If you want to keep attendees happy, reduce fan frustration, and boost your event’s sales, payment processing is essential to the ticket-buying experience. With integrated payment gateways, like Stripe, our event ticketing platform ensures transactions are always secure, fans enjoy hassle-free ticket buying, and you can maximize your sales while focusing on the show. Contact us, and get started today.
