Multipass uses Stripe as our primary payment processor, and specifically their Stripe Connect platform.
Multipass and Stripe
For Event Sales
When you run events on Multipass, our partnership with Stripe lets us pay you directly when ticket sales are made. This money goes into your Stripe account at the time of ticket sales, and is transfered to your bank account (set up within Stripe) shortly after that. You control the money that is within Stripe just as you control money in your Paypal or Venmo accounts.
Running an event as an organization, it's usually cleanest financially to establish a Stripe account / connection specifically for the organization. If you have already connected a Stripe account on your personal Multipass profile, that can be used. Having a new connection helps you understand your cash flow better, as event sales are then independent promoter payouts.
For Promoter Payouts
Promoters establish a Stripe payout account and get paid on a daily basis for any ticket commissions they generate. This connection is set up either on the account level or on the organization level.
Payout Timing
The money you receive in Stripe is sent to your bank account based upon your Stripe settings. By default this is on a rolling two business day basis. The exception to this timing is the very first payout you receive.
Stripe has measures in place to reduce fraud, and the very first payment takes about a week to get to your bank. If you make a small test purchase immediately when you set up your event, this will start the clock on your initial payout, and we strongly urge you to do this. You can create a ticket type with a $1 cost, or set your main tickets to something like $1 long enough to do this test, then switch it back to your correct pricing. This is something that takes place one time per new Stripe account; if you do multiple events this will only take place the first time.
Event Sale Payouts
Event sales get sent to Stripe immediately, at the time of purchase. If you are paying a promoter then that payout amount is withheld and you receive the amount you are due after paying the promoter. We use that money to pay out promoters daily.
Promoter Payouts
You get paid daily from Multipass, for as many tickets as you are responsible for generating across as many events as you are promoting.
Organization vs Login
You can connect Stripe on a login level, or on a organization level. Here's a breakdown of recommended practices.
Connect Your Organization to Stripe
We recommend that every organization have a dedicated Stripe connection if money is involved. There are three ways that this takes place in Multipass.
- Event sales
- Organization memberships
- Organization-level promotion of other organizer's events
The first two are pretty straightforward. On the promoter note, you can choose to promote other events. If you do this as an organization then those event can show up on your own organization's page/subdomain in Multipass, and people can buy them through you. The other event keeps the majority, and you get paid your promoter cut. The upside to this approach is that you get to continue promoting your own presence on our site, and you can tap into more events than just your own!
Connect Your Personal Account to Stripe
You should connect Stripe to your account if you are doing one of the following:
- Event sales, but for a one-off, non-organization based event
- Promoting someone's event with your own link to their event page
We recommend that you create an Organization in Multipass for everything event related. If you are only doing a single event, you can do that under your login; you still need to connect Stripe to get paid.
If you sign up as a Promoter, you have to have your Stripe payouts properly set up before you can even join our promoter program.
Troubleshooting
Payouts are Paused / Stripe Needs More Information
Stripe wants to get you rolling and will let you enter some of your information after initial setup. This information needs to be entered in order to maintain payouts, and you should keep an eye on your email for any notifications they send you.
Stripe's onboarding process collects most of the information they need, but if you choose to use an existing Stripe account during your setup, they might require a bit more information. This usually takes the form of requiring an SSN/EIN, or for them validating your account via a website or Facebook profile. Reach out to Stripe's support with questions about validating your account.