Last editedMay 20222 min read
When planning an event, there are a number of things you need to organize. These include venue hire, entertainment, guest list management, and more. But organizing the evening itself is not all you have to worry about — you also need to create a registration and online payment system that allows guests to pay with ease.
In this post, we’ll take you through everything you need to know about payment processing for events, from the benefits it offers, to some of the most popular event registration and payment software solutions.
Online event payment and registration: benefits
In 2022, online payments are an everyday occurrence. They’re quicker, more convenient, and, in light of the pandemic, often a necessity. For this reason, guests will expect an online payment process when it comes to booking events.
With that in mind, let’s look at some of the advantages of online event registration and payment.
Faster payment
By accepting payments online via an event registration and payment software, you’ll receive the payments faster. Indeed, the funds will be transferred quickly and efficiently, meaning you will have cash to fund other event-relevant expenses.
Easier for guests
Another perk of using an online event payment platform is that it’s easier for guests, and requires far less time and effort than manually writing a check or paying at the door. Guests will also be assured that their payment is safe due to the implementation of SSL. And, improving the payment experience for guests doesn’t just benefit them, it means they’re much more likely to attend your future events too making it a big win for you as a business.
Automatic payment tracking
Using an event payment platform means registrant payments will be automatically hooked up to their account on the database. This can facilitate communication with guests, and also help you track how much money you receive.
More secure
Online payments typically have security measures in place, making fraud less likely. Physical checks, on the other hand, are far more susceptible to fraud - plus, they also have more risk of getting lost in the mail.
How to optimize online event payment
When it comes to online event registration payment, it’s very important to consider the user experience. Creating a positive experience for users will lead to fewer cases of checkout abandonment and keep customers coming back.
Below are some tips for helping ensure a good customer experience:
Integration
In order to create a smooth experience for registrants, make sure your payment processor fully integrates with your registration software. This will allow guests to pay easily as part of the registration process, without needing to leave and enter a third-party site.
Ease of use
It’s imperative that the payment process is straightforward for registrants. This means that information fields are clear, but minimal. Having too many fields requesting unnecessary information can be off-putting for customers due to time and security concerns. To keep checkout abandonment to a minimum, invest time into making your payment process easy to navigate and pleasing to the eye.
How much does payment processing for events cost?
Using event registration and payment software comes with a cost for event organizers. Depending on the platform you opt for, fees will vary. Some of the most common pricing structures are outlined below:
A monthly fee plus processing fees on transactions
A fee per registrant plus processing fees on transactions
Only processing fees (but usually at a high rate
Event registration and payment software examples
Some examples of popular event registration and payment software solutions include:
You can take a look at the specifics of each event payment platform to work out whether it’s the right choice for your business. For a less events-oriented solution, GoCardless lets companies collect payments directly from the bank accounts of their customers, saving you time and money when it comes to payments.
We can help
GoCardless is a global payments solution that helps you automate payment collection, cutting down on the amount of financial admin your team needs to deal with. Find out how GoCardless can help you with one-off or recurring payments.
