This article covers the advantages and disadvantages of using the CellarPass payment process for ticketed events
CellarPass provides the convenience of accepting credit cards for selling tickets through the CellarPass ticketing platform.
By default, the CellarPass payment processor, powered by Braintree Payments is selected. This is allows event organizers that do not have an existing payment processor to begin selling tickets immediately, avoiding having to fill out forms and long-term contracts. That also means that as soon as you complete the steps of building out your ticketed event, you can sell tickets immediately. If you are planning on operating a larger event where you will need funds deposited into your account frequently, we recommend switching the ticketing payment processor to Stripe Connect.
For a quick comparison of using Stripe versus CellarPass' own processor, we'll give you a quick overview.
CellarPass as Processor
PRO- A favorable, flat-fee credit card processing fees of 3.5% has already been negotiated. Yes, that covers miles, points and AMEX.
PRO- No credit check, minimums or monthly fees.
PRO- No forms to fill out or minimal contracts, long-term contracts to worry about. Use it when you need it, don't pay for it when you don't.
PRO- As soon as you build your ticketed event, you can sell tickets
PRO- One lump-sum payment 5 days is sent to you after your event is complete. This makes for easy accounting of your event.
CON- There's no funds deposited until 5+ days after the event is over.
Stripe Connect as Processor
PRO- A favorable, flat-fee credit card processing fees of 2.9% + $0.30 transaction fee has already been negotiated. Yes, that covers miles, points and AMEX.
PRO- Once approved, funds are deposited within a few days of ticket sales taking place.
CON- If you are a large corporation, they'll be hesitant to fill out more financial forms and agree to a contract without first a lengthy contract review.
CON- There may be a few days delay before you can use your account, or it may have a limit until your credit line has been established.
CON- You have to wait to receive approval from Stripe before selling tickets. This could be instant, to a couple of days.
CON- Since you are possibly receiving daily deposits, your accounting group will need to spend more time reviewing reports and making sure the correct funds are being deposited.
CON- Once you switch to Stripe Connect as a processor, you cannot switch back to the CellarPass processor.
Comments
0 comments
Please sign in to leave a comment.