INFO: Managed Payment Service

posted 29 Aug 2018, 04:49 by Matthew Poole   [ updated 29 Aug 2018, 04:49 ]
What is our Managed Payment Service?
Our Managed Payment Service (MPS) is a ready-built mobile-optimised PCI DSS compliant payment gateway integrated directly into our mobile ticketing platform that can accept debit and credit payments and PayPal payments for ticket purchases.  In addition, new payment methods will be introduced in the future such as Direct Debit and Apple / Google Pay mobile payments.  Note that Shared Platform customers must use our Managed Payment Service, but Enterprise Platform customers can choose our MPS to get up and running more quickly and to avoid integration and testing fees.

The advantages of using our MPS are:
- You do not have to apply for a merchant services account which may have lengthy credit checking and business profiling procedures and operating restrictions.
- It's ready built - no further integration and PCI compliance testing is required for your organisation.
- We offer a fixed-fee per transaction regardless of method of payment.
- Simpler accounting and reporting.
- We handle all payment queries, refunds and bank charge-back requests.

How does it work?
- When a customers purchase tickets, we process all of the payments.  You receive real-time reports of revenues through our Kiosk application.
- We will receive the funds from the various payment acquirers in the following days.
- We will reconcile all transactions, refunds and charge-backs for your account on a weekly basis.
- You will then receive a payment by bank transfer the following week, less our transaction fees and any refunds.
- Shortly after, you will receive a settlement advice detailing the total revenue, deductions applied and payment made.

Typical payment workflow

Common Questions

Q) What is the transaction fee charged?
A) Typically we charge a flat 4.5% of the ticket cost.  We do not charge any further fees to you, and we do not charge the customer any additional fees, but the is a minimum monthly fee of typically £49 we charge as per the agreement with you.  The transaction fee covers payment processing fees, bank charges, platform subscription and technical management fees for your account, our customer services team.

Q) How long before I get my revenue?
A) Revenues are paid on a weekly basis, 14 days following the transaction week-ending.

Q) How do I receive my revenue?
A) Depending on the revenue amount, you will receive your payment direct into your bank account by UK Faster Payments, or by BACS.  BACS payment can take an additional 3 days to reach your account.

Q) Can I negotiate on the transaction fee?
A) Transaction fees can be reviewed once we can establish the volume of revenue and transactions passing through your account, at the discretion of your account manager.