Stripe - Payment processor for Splash
Stripe is the credit card payment processor for Splash ticket purchases. This card provides information about how ticket sales are routed to your worktag, what the transaction fees are, and how you can set up Stripe for your ticketed event.
Setting up Stripe for your ticketed event
Before you can finalize your ticketed event, the Public Programs team must first link your Splash account with the university’s Stripe account.
Please contact universitypublicprograms@newschool.edu at least two business days prior to your event page going live to allow for set-up time.
Routing your ticket sales to the correct worktag
In order to ensure that your ticket sales are going to the correct worktag, please be sure to add it in your event Settings page, in the “Worktag Budget Code” field. Make sure that the worktag is one that can receive revenue.
On a bi-weekly basis, the Public Programs team will send a report to the Office of Finance & Business that enumerates all events that have ticket payouts with information that includes:
- Event title
- Event date
- Department/College/Center/Institute
- Worktag
- Splash account email
- Net payout amount (gross sales minus Splash and Stripe fees, and refunds)
Transaction fees
When setting up a ticketed event, you can choose to pass the cost of the Splash transaction fee on to the guest.
You cannot, however, choose to pass the cost of the Stripe fee on to the guest. Note that the Stripe fee that is displayed on your ticketing dashboard is an approximate amount. The final amount will be calculated by Stripe, and will increase if the purchaser is using an international credit card, and/or if a currency conversion is required.
The transaction fees are as follows:
- Splash fee - 1% of the ticket price + 49¢ per ticket
- Stripe fee - 2.9% + 30¢ per successful card charge
- +1% for international cards
- +1% if currency conversion is required
All tickets sold via Splash will be subject to both the Splash and Stripe fees.
Processing international credit cards
Note that the Stripe fee that is deducted from your ticket sales is more if your guests are using international cards, and if currency conversion is required.
If you anticipate a lot of international guests purchasing tickets to your event and would like to avoid the additional fees for international transactions, add a note on your event page to the effect of: “To avoid higher transaction fees charged when using a non-US credit card, please use a US credit card to make your ticket purchase.”
Processing times
Individual ticket purchases are registered in Stripe immediately. Unlike our previous payment method with Splash/Braintree, ticket sales are not held until 30 days after the event and then released to us.
Here is a rough workflow of how sales come in through Splash, routed via Stripe, then routed into a worktag:
- Guest purchases a ticket through Splash. That payment is processed immediately via Stripe.
- Stripe batches multiple ticket sales to the university's operating budget account on a daily basis.
- The Office of Finance & Business reviews the operating budget account every 1-2 business days, and routes funds to the appropriate worktags.
- Roughly 30 days after an event, the Public Programs team will work with Finance to ensure that the batched payments total the net ticket sales for your event. We wait after the event to do this in case there are any ticket refunds.
Refunds
You may issue ticket refunds as normal with Splash. Splash will refund ticket fees, but the Stripe payment processing fee will not be refunded.
If you complete a partial refund, then the Splash service fee will be partially refunded as well.
Full or partial refunds in Splash can be issued for individual tickets, and cannot be issued in bulk. Once a ticket is refunded or revoked, it cannot be reversed.
When you issue a ticket refund, Stripe submits refunds to your guest's bank immediately. Depending on the bank's processing time, it can take anywhere from 5-10 business days to show up on your guest's bank account.
You must set a deadline for ticket refunds for no more than 30 days after the event end date so that the Office of Finance & Business allocates the correct amount to your fund. If you need to issue a ticket refund more than 30 days after the event end date, please contact universitypublicprograms@newschool.edu.
Handling declined cards
If a guest’s credit card is declined, they will likely reach out to the event coordinator with questions. In this case, contact universitypublicprograms@newschool.edu who can log into the university’s Stripe account to see the reason for the decline. Read this document on Stripe transaction declines for more information.
Reporting on ticket sales
The Analytics and RSVP tabs on your event page provide information on ticket sales which include participant information, # of tickets sold, ticket types, total payout (sales minus fees and refunds), and so on.
Using Splash/Stripe for donations and fundraising
As a 503c non-profit organization, The New School must adhere to IRS regulations regarding fundraising activities on campus. If you are considering the use of Splash for a fundraising event, or an event where donations will be solicited, you must first get in touch with the Gift Accounting Team.