Methods of settling accounts with participants of paid events

Are you planning to organise a paid event? It is likely that you are taking into consideration different variants of collecting payments.

Methods of settling accounts with participants of paid events

The most commonly applied method of collecting payment is by regular bank transfer. This method of collecting payments does not require integrating with any external payment gateway, and it does not generate any costs, regarding potential commission on transactions. However, it may turn out that the conference you are organising will be attended by foreigners. If that is the case, it will be much easier and comfortable to offer paying by credit card.

Credit card

It is particularly recommended to offer payments by credit card, if participants attending your event are not citizens of your own country. For such participants, the cost of a bank transfer will probably be quite high, and it will be difficult to collect it from the payer, which means that it will be covered by the recipient. When using a credit card, its operator will charge a commission, but such a cost can be foreseen, unlike a premium of banks that do not carry out SEPA transfers for example. Most payment institutions make it possible to accept payments with VISA and MasterCard credit cards. However, if you expect your guests to make payments using American Express credit cards, do not forget to ask your operator, whether it will be possible, as it may not be a standard service. Make sure that your attendee registration software can be integrated with a selected payment system, regardless of the payment institution you have chosen.

Quick transfer

Based on my experience that this option is usually used by individual attendees, because company and public sector representatives usually do not have access to the bank account of their employer. Similarly to credit cards, making this method available requires integrating your registration software with the system of a selected payment institution.

Other payment methods

Transactions made through PayPal, Stripe or Braintree are becoming more and more popular around the world. It is very easy to integrate these with CONREGO Payments. The commission they charge might be much higher than the one charged by your local payment processors. However, you might want to consider introducing them. This one simple change can boost the number of attendees, increasing your revenue despite the commission.

CONREGO software is one of the first of its kind to have made available the possibility of an easy integration of the registration process with a payment platform that enables paying with Bitcoin cryptocurrency.

Making payments when the event is in progress

If there is a reason for you to enable accepting payments, when the event is already in progress, you need to take into consideration the fact that this payment method requires using a cash register, if individual participants pay in cash, or a credit card terminal, if participants use credit cards. It takes some time and requires trained personnel at the reception desk to process on-site payments and prepare the necessary infrastructure.

Tomasz Chrościechowski

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