The Eventive fee structure is designed to be simple. Read below about the differences between transaction fees, virtual content fees, and fees on refunded orders.
Learn even more by reading our Guide to Understanding the Financial Process.
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Transaction fees are only charged on credit card payments. No transaction fees are charged on free tickets, free passes, or cash sales. All credit card fees are charged at the time of transaction.
This transaction fee is made up of two components:
Credit card processing fee: This is a standard flat 2.9% + 30¢ per transaction.
Eventive ticketing fee: These fees are 2.1% of the transaction. We also charge 99¢ per item in the transaction, although for the first item in each transaction we only charge 69¢ so as to absorb the 30¢ per transaction that is part of the credit card processing fee.
How these two components are combined and applied to the transaction varies according to whether you choose to absorb the fees, pass the fees along to the customer or to split the fees between you and your customer.
Customers will be charged exactly the sale price of the item. From this amount paid, the fee will be instantly calculated and deducted, and then the remaining amount will be deposited into your bank account.
The total transaction fee on a paid order is when fees are absorbed 5% + 99¢ per item.
For example, on a single $10 ticket a fee of $1.49 (5% + 99¢) will be deducted and $8.51 will be deposited into your bank account.
Passing fees onto customers
If you pass on fees to customers, we calculate the appropriate extra amount to charge the customer such that the net amount earned by your organization will be equal to the face price of the item.
This is a more complex calculation than it seems, because although ticketingfees are charged on the sale price of each item, card processing fees are charged on the gross amount of the transaction.
As you increase the total amount charged, you're also increasing the card processing fee, since it is a flat fee plus a percentage of the total charge amount.
In order to determine how much to charge your customer, we apply the following calculation methodology:
1. Determine the net sale amount that should be deposited into your organization's bank account.
2. Compute the Eventive fee for this amount, using the percentage & fixed amount as specified in "Fee breakdown" above.
3. Determine the amount to charge in order to ensure that your organization receives the amount specified in (1), based upon the standard Stripe rate (based on your currency). This is determined using the following calculation, where P_goal is the sum of your desired price + Eventive fees and P_charge is the amount to charge, F_fixed is the Eventive rate and F_percent is the Stripe percent.
P_charge = (P_goal + F_fixed) / (1 - F_percent)
For example, for standard US/Canada Stripe pricing on a single $10 ticket:
P_charge = (10.00 + (0.30 + 0.69 + (10.00 * 0.021))) / (1 - 0.029)
Thus, if you pass all Eventive fees on to your customer, they will be charged $11.53, and $10.00 will be deposited into your bank account.
To further analyze the fee components of this example, you’ll notice that the $0.30 and the 0.029 correspond to the credit card processing fee and the 0.69 and 0.021 correspond to the Eventive fee.
When fees are split between you and the customer, the fees are calculated using both formulas described above according to what percentage of fees you have chosen to absorb and the percentage that you have opted to pass along to the customer.
For more information on how to configure your fee settings to absorb fees, pass them along to the customer or split fees, please visit our article on creating event buckets.
DRM unlock fees: Organizations using Eventive Virtual will see a $0.99 DRM unlock fee (list of DRM fees in other currencies) on all virtual ticket orders, provided the virtual screening contains a piece of ingested film content.
The DRM unlock fee is incurred on virtual ticket purchases in addition to credit card transaction fees.
Therefore, a single virtual ticket incurs two fees: the 5% + $0.99 credit card transaction fee plus the $0.99 DRM unlock fee.
We refund Eventive ticketing fees on refunded orders. However, Stripe does not refund credit card processing fees. Therefore, if you refund an order you will see a negative amount equivalent to the "No Eventive Fee" promo rate.
Learn even more about fees in our Guide to Understanding the Financial Process.