Stripe and Cash Flow
Multipass uses Stripe as our primary payment processor, and specifically their Stripe Connect platform. Here are a few things you should know...
Three Ways we Use Stripe
For Events
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 a group, it's cleanest to establish a Stripe connection as the group, although if you have already set one up on your login account, that can be used. Having a new connection helps you understand your cash flow better, as event sales are then independent from agent or promoter payouts.
For Promoters
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 group level.
For Agents
When you refer business to Multipass, we pay you daily for ticket sales that your referals generated. This always requires setting up a connection to Stripe on your login account level, not on the group 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 main 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 Sales
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.
Promoters
You get paid daily from Multipass, for as many tickets as you are responsible for generating across as many events as you are promoting.
For Agents
You get paid daily from Multipass, for all tickets sold from any events you were the agent for.
Group vs Login
You can connect Stripe on a login level, or on a group level. Here's a breakdown of recommended practices.
Group Stripe
We recommend that every group have a dedicated Stripe connection if money is involved. There are three ways that this takes place in Multipass.
- Event sales
- Group memberships
- Group-level promotion of other people's events
The first two are pretty straightforward. On the promoter note, you can choose to promote other events. If you do this as a group then those event can show up on your own group 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!
Login Stripe
You don't need to connect Stripe to your login unless you are doing one of the following:
- Event sales, but for a one-off, non-group event
- Agent payouts (referals)
- Promoting someone's event with your own link to their event page
We recommend that any time you might have more than a single event, that you create a group as a container for everything 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 an agent, you can start pitching Multipass to your circles. If someone signs up, we will give you your cut, but we can't actually give it to you until you link to Stripe for your payouts. The same is true as a promoter, except that you have to have the payouts 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.
Their 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. They
