In order to take payments online for your ticket sales you will need a payment processor.
At Ticket Tailor we are dedicated to making life easier, and keeping costs low for event organisers and so we have partnered with Stripe and PayPal for payment processing. Both providers are low-cost and easy to use solutions and you can use whichever you prefer but we recommend Stripe for the following reasons:
- Usually lower fees (see below for fee breakdown)
- Better checkout experience for ticket buyers
- More reliable service
- Better customer support
- 7 day rolling payout to your bank account
How do I sign up with a payment processor?
Signing up is really easy, and we help you through the process. When you create your first event on Ticket Tailor we will ask you to connect to your payment processor account or create a new account. You will need to fill out a form that takes about 10 minutes and then you will be set.
How much are payment processing fees?
In the UK Stripe charge:
- 1.4% + 20p / transaction for European cards
- 2.9% + 20p / transaction for non-European cards
If someone in the UK buys 2 X £10 tickets, totalling £20 then the Stripe fees would be 48p.
In the UK PayPal charge:
- 3.4% + 20p / transaction
If someone in the UK buys 2 X £10 tickets, totalling £20 then the PayPal fees would be 88p.
In the US both Stripe and PayPal charge:
- 2.9% + 30c / transaction
If someone in the US buys 2 X $10 tickets, totalling $20 then the Stripe or PayPal fees would be 88c.
How can I avoid losing out to payment processing fees?
You could avoid payment processing fees by taking payment in cash or bank transfer but this does take away from the convenience of having an online ticket shop. In order to take card payments online there is no way to avoid payment processing fees (we wish there was!!).
We do have a tool in Ticket Tailor that allows you to pass this cost on to your ticket buyers by adding a transaction fee to each order. You could set this at an amount that would cover your payment processing fees and then you don't loose out on your ticket revenue. This is completely optional so it's up to you whether you want to pass this cost on or not.
How and when will I get my money?
The money is sent instantly to your Stripe or PayPal account.
Stripe will then typically pay out to your bank account 7 days after the money was paid to you. So if someone buys a ticket from you today, you would see the money in your bank account in 7 days time. You can also configure it to pay out in batches at a time that is convenient for you, e.g. at the end of the month.
PayPal payout times are usually pretty quick but vary depending on the use-case so it's best to check directly with PayPal.
Be aware that some ticketing companies won't pay you your funds until after your event which can leave you in a tricky situation if you need to pay event related expenses. With Ticket Tailor the money goes direct to you, cutting us out completely.
How do customers get charged?
With Stripe, your ticket buyers are asked to to enter their card details at the final stage of the checkout process as shown below.
With PayPal, your ticket buyers are taken to the PayPal website to complete their purchase. They can pay using their PayPal account by logging in to PayPal, or they can checkout as a guest using their card details. When checking out as a guest, PayPal does ask for a considerable amount of information. This makes it more difficult for people to pay by card using PayPal than with Stripe, which is another reason why we recommend Stripe over PayPal.
Is it secure?
Yes, absolutely. All sensitive payment details such as card numbers are ever seen by Stripe or PayPal. They never touch our servers which reduces the risks of any payment details being compromised. Both Stripe and PayPal are accredited with level 1 PCI/DSS compliance which is the highest level of security compliance for the payments industry.
If you have any further questions about payment processing please get in touch by clicking the chat button bottom right.