The Importance Of Real Time Payment Processing & Multiple Payment Options
An event is a medley, where attendees and delegates from around the world and walks of life congregate. To provide registration convenience for registrants, you have already added an online registration option. This is an excellent start to doubling your attendee numbers. However, to truly maximize your attendee numbers, your real time payment processing facility needs to have multiple payment options.
Why? Here are some reasons ‘why’ it is necessary to add a real time payment processing and multiple payment options to your event website:
Offer delegates registration ease and convenience
An event website without a real time payment processing solution is like a prettily packaged present without anything inside. If your event website does not have a real time payment processing solution, you are losing out on a great opportunity to close the sale with a registrant and ensuring that your profit numbers look healthy. By adding a real time payment processing solution with multiple payment options to your website, you encourage interested parties to register immediately and can close the deal by collecting the registration fee instantly. This is a mutually beneficial feature as you are assured of attendee attendance and the attendee receives instant confirmation regarding his or her registration.
Lack of payment options raises the number of abandoned registrations
Audience at an event is typically diverse and such, not all of them will have a credit card. If you only offer credit cards as a payment option on your website, you will find a lot of mid-process abandoned registrations. By offering them multiple payment options, you widen your market reach. In fact, accepting multiple payment options on your event website is one sure fire way to reduce the number of mid-registration abandonments.
Instant payments, no fraud concerns & no more chasing delegates for payments
As an event organizer, you know that potential delegates or attendees call and block seats but fail to pay for them promptly. You either end up constantly calling them to remind them to pay or have empty seats and a loss in potential revenue. A real time payment processing solution prevents such situations from happening as the registrant confirms his registration by paying for registration or ticket instantly. It automatically processes the transaction as long as you have seats available and the delegate has the funds to pay. If you don’t have seats left, the registrant is generally transferred to a waitlist sign page. If the card is not valid or he lacks funds, the transaction is declined, leaving your seats open for other interested parties.
To summarize, all delegates are different – they come from different locations, they have accounts with different banks etc. If you want to successfully target and capture, your diverse target audience, you have to ensure that your online registration and payment processing solution has the ability to accept payments using multiple payment options.