When setting up the rates for your event in our management tool, the first key step is to choose your payment system.
This is when you need to decide which bank account your sales revenue will be deposited into: the Thepointofsale.com merchant account or your own merchant account.
Distinguishing Thepointofsale.com’s merchant account from a personal merchant account
Each option offers different benefits regarding fund management, payment terms, and cancellation responsibilities. It is essential to understand the distinction between them to make the right choice for your event.
Using Thepointofsale.com’s Merchant Account
Where the money goes: Money from your ticket sales is deposited into the Thepointofsale.com account as your sales are made.
When payment is processed: Revenue from your event is paid to you by bank transfer within 10 days after your event ends.
Event cancellation: Our team can quickly process ticket refunds, as we hold the sales funds in our account. Refunds are made within 10 working days following the cancellation of your event.
Transaction fees: When using our merchant account, you can choose to cover these fees or transfer them to the buyer by checking the option Attendees: Transaction fee is added to ticketing fee.
Using Your Own Merchant Account
IMPORTANT
If you wish to link an external merchant account to your event, please contact our team at organizers@thepointofsale.com.
Where the money goes: Money from your ticket sales is deposited into your personal merchant account.
When payment is processed: Funds are deposited into your account according to the terms negotiated with your merchant account provider.
Event cancellation: Depending on the chosen merchant account provider, Thepointofsale.com may initiate refunds, subject to the availability of your funds. For some providers, our team cannot process refunds; you will need to process them yourself within 30 days of cancellation, in accordance with our terms of use.
Transaction fees: Thepointofsale.com does not charge any fees. However, your provider may charge you their own fees. To compensate, you can add organizer fees when creating your event rates.