How are PheedLoop transaction fees calculated?
For a video walkthrough, watch between 7:34 - 8:56 in this video:
PheedLoop adds transaction fees to credit card payments, like other registration platforms (Eventbrite, Cvent, Splash). This article explains how these fees work.
Contents
- Default Ticket Fees Calculation
- Absorbing All Ticket Fees
- Adding Additional Ticket Fees
- Refunding Payments
Default Ticket Fees Calculation
PheedLoop integrates with Stripe for payment processing. Stripe charges 2.9% + $0.30 per transaction, along with PheedLoop's 1.9% charge on registrations.
For example:
- Ticket Cost: $100
- Attendee pays: $101.90 (with the $1.90 coming from PheedLoop's 1.9% fee)
- Deposited to Stripe: $100
- After Stripe's fee: $96.80 net to you
By default, events are setup so that attendees pay the PheedLoop transaction fee while you pay Stripe's fee. This behaviour can be customized; this will result in your organization absorbing the fee.
Absorbing All Ticket Fees
You can choose to absorb all attendee fees, whether to keep pricing simple by including fees in the ticket price, or simply as a generous gesture.
For example:
- PheedLoop processes the payment: $100.00
- PheedLoop transaction fee (1.9%): -$1.90
- Amount transferred to your Stripe account: $98.10
- Stripe processing fee (2.9% + $0.30): -$3.15
- Your net revenue: $94.95
In order to absorb all ticketing fees, visit Registration > Settings in your dashboard, and uncheck the option called Pass Transactions Fees to Registrants.
Adding Additional Ticket Fees
If you would like to pass on any additional fees to registrants, set the percentage under the Extra Fees Percentage field. If you are passing on transaction fees already, then this extra fee percent will be added to the transaction fee percent. Event planners often use this field to pass on payment processing fees.
For Example: Pass on 5% total (1.9% PheedLoop + 3.1% extra)
- Set Extra Fees Percentage to 3.1% under Registration > Settings
- Attendee pays: $105 on a $100 ticket
- Deposited to Stripe: $103 (after PheedLoop's 1.9% fee of $2)
- After Stripe's fee: $99.71 net to you (Stripe deducts $3.29 for 2.9% + $0.30)
Refunding Payments
If you refund a payment at any point, the PheedLoop transaction fees and Stripe processing fees are not refunded. For PheedLoop and Stripe customers who joined prior to 2017, these fees are refunded as they own old accounts where this ability was still possible.