New Feature – Payment Plans
Hey Awesome Event Organizer,
We’re really excited to launch a new feature that will provide guests additional options during the checkout process. We are introducing payment plans, which allows guests to break up their payment over a predefined payment plan cycle.
When creating your payment plan, you will supply your account manager with the details of the plan. These details include number of cycles, minimum payment eligible, and the date of the last payment.
From there, the payment plans are created and automatically displayed as an option for any payment above the minimum payment eligible. Guests will still see the total cost of the purchase, and will be given the option(s) to select a payment plan based on the host provided plan details. Guests will see the number of cycles, and the payment associated with each cycle, during checkout.
Tickets are reserved immediately after the purchase, but guests will not receive their tickets until the final payment is made. If a payment fails, we will attempt the payment again 2 and 3 weeks after the failure. We will give guests a link to update their card info. If a guest updates their info, and the payment succeeds, they are kept on the payment plan.
If the payment still fails after the 3rd week, guests will be warned that they have 48 hours to update their card. If the payment still fails after the 48 hour warning, the tickets reserved for the guest will be returned to inventory. The guest will not receive refunds for any of their previous payments.
Payment plans are a great way to drive additional ticket purchases, by offering an option to break up the payment of higher priced tickets over months of payment. We’re excited to see how our hosts take advantage of this feature.
For more information regarding using payment plans on your event, please reach out to your account manager.
Please note, payment plans are only available on the default SquadUP payment gateway for now. We do have plans to extend this functionality to custom payment gateways (Stripe, Authorize.net, Payflow, Paypal Payments Pro, Braintree, and Elevon) in Q3-Q4 of 2019.
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About The Author
sam
Sam is Co-Founder / CEO at SquadUP.
Great idea on introducing payment plans! This feature will definitely enhance the checkout experience, making it easier for guests to manage their expenses. It reminds me of how in Cookie Clicker, strategic planning can lead to exponential growth.
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