Payouts
A payout is the moment the money stops being a successful transaction and starts being a balance you can spend.
A payout is the transfer of collected payments from the payment provider to your bank account. Its timing is set by the provider: some pay daily, some weekly, some hold a reserve for new accounts. The ticketing software is not part of this step at all when the provider account is your own.
What sets the timing
Providers usually pay on a schedule rather than per transaction, and a newly opened account often waits longer while its first payments settle. That is worth knowing before you plan to pay a supplier out of advance sales.
Where a platform collects on your behalf instead, the wait is theirs to decide, and some hold the money until after the event has taken place. For an organisation that has to pay a deposit in advance, that difference is the whole question.
Refunds come out of the flow
Refunds are deducted from what is due to be paid out, not invoiced separately, so a week with several cancellations produces a smaller payout rather than a bill. If you refund more than you sell, the provider will recover the difference.
It is also worth knowing that a refund usually does not return the original transaction fee. Refunding a ticket costs you a little even when the buyer gets everything back, which is why a clear cancellation policy is worth writing down.
Payouts with Passavo
Because the provider account is yours, payouts go from them to your bank on their schedule and we are not involved. There is no step where your takings wait with us.
You can issue refunds from your orders, in full or in part, and cancel the ticket on the same screen so it no longer opens the door. Every refund stays recorded with its order.
Also searched for as
- refunds
- settlement
- getting paid out
- refund a ticket
Common questions
When do we get the money from a sale?
On your payment provider's schedule, into your own account. We are not a step in that path, so nothing waits with us.
Can we refund part of an order?
Yes. You refund part of the amount, for instance the price of one ticket out of four, and cancel that one ticket; the others stay valid.