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Stripe Split Payments: Now Manage Your Payment Effectively

Community Events and Community tickets require a lot of management including all the payments, organizers, fees management, and so much more. To manage such things at your end, you need powerful tools that provide you the control and the freedom to administrate things how you want and sell tickets through your platform. So, how do we crack the perfect balance by making things easier for us?

The answer is Split Payments.

What are split payments?

Before getting into it, we first must understand what split payments are and how they work. It’s not difficult, so it should be fairly easy for us to explain it to you.

Let’s say people want to organize events and sell tickets using your platform. Now, because they are using your website, you are, of course, going to charge a fee, because you are the owner of the events site. You manage everything, and the entire control belongs to you, hence, you are going to make money on the tickets people sell through your site.

Split payments allows you to receive immediately your agreed fee for the ticket sale

Split Payments are exactly that. They allow you to split the revenue of the tickets with your designated amount going to you and the rest of it going to the organizer. For each ticket sale, split payments will pay you the amount of fee you have agreed with the organizer. It does it automatically without any issues. You don’t need to keep track of the accounts and manually do anything.

WP Event Manager will do all of the rest itself.

Why should you use Stripe Split Payments?

Now the most important question is, why should you use Stripe Split Payments in the first place? Before setting up how they work, we need to understand the importance and benefits of these payments.

  • Efficiently manage fees and revenue from ticket sales by not having to manage anything yourself. Stripe and WP Event Manager will manage it all for you and your organizers. Automatically.
  • The simple process attracts more customers and more organizers. Because everything is transparent and easy to use, more customers will come to buy tickets. And consequently, more organizers will come to partner with you.
  • Organizers can manage everything from their panel.
  • Split Payments work perfectly with WooCommerce.
  • The security is top-notch with Stripe being PCI Service Provider Level 1 Certified.
  • Insightful details both for organizers and the admin being able to see everything from the list of all the payments with commissions/fees listed alongside.

How does it work?

Now since we have understood what split payments are, we can easily understand how they work. What you have to do is install the WP Event Manager and then the Stripe Split Payment add-on. Once you have added it, all you have to is initialize it.

For starters, you and every event organizer must have their Stripe accounts. The Stripe accounts provide you with the dashboard with all the information about the payment. With the help of Stripe Split Payments, customers can come to your website and pay for the tickets using the payment method you have set up.

Stripe offers multiple payment methods for customers, such as credit card, Google Pay, Apple Pay, etc. After that, you will have to set up the fee divide at your admin panel. Now, this is something you and the organizer will have agreed upon. This can be a fixed fee or a percentage of the sales. Once you have agreed, you can set the fee on your website.

Stripe Split Payments offers multiple payment methods for customers, such as credit card, Google Pay, Apple Pay, etc

Then you can just go ahead, press the publish event button, and start promoting the event using your platforms while the event organizer does the same.

Once you start accumulating ticket sales, the Stripe Split Payment will automatically calculate how much commission you earned or how much revenue you made. It directs the payments on its own to the event organizers as well, so you have nothing to worry about.

Stripe Split Payment will automatically calculate how much commission you earned or how much revenue you made.

Follow the steps below and easily setup Split Payments

Now the setup process is, of course, only done from the admin dashboard. It’s relatively easy. All you have to follow are the stepshere.

The first step is to install the WP Event Manager on your WordPress site and then connect Stripe to it.

At Stripe

  1. It needs to be connected from both sides (Admin dashboard and Stripe). Let us tell you how to connect.
  2. Go to Stripe and log in.

    Split Payments dashboard

  3. Enable “View Test Data” from the side panel on the Stripe dashboard.

    View Test Data

  4. Click on API Keys and then “Reveal test key token” to get the API Key that you are going to provide at the admin panel on WordPress.

    View Test Data

  5. Click on settings and go to “Connect”. In the Connect settings, you can find the integration page and see the client ID.

    View Test Data

    View Test Data

  6. Add your website’s URL in the redirect option if required.

    View Test Data

  7. There are two IDs available (Development ID for testing and Product ID for live mode).

At Admin Panel

  1. Go to the admin panel and then WooCommerce. Open Settings and then Payments.
  2. Enable WPEM Stripe Split Payment from there and click on manage.

    Admin Panel view

  3. Enable the plugin and set a title that the customer will see when checking out. Alongside that, there are display details, which the customer will also see at the checkout page. Edit those as well, according to your likes.
  4. Now comes the main part, the Stripe API Configuration. To configure the API, add the API key that you generated at the Stripe dashboard in the Test secret key and Publishable key. For more information, read here.
  5. Save changes.

The last part: Connecting with organizers through Stripe

  1. Once Stripe is setup with WooCommerce and WP Event Manager, you can find it in the Event Dashboard. Since the event dashboard is available for the organizers as well, the organizer has to click on Stripe, and the connect option is there. Click on it.

    Admin Panel view

  2. After that, the organizer needs to add their details.
  3. Then the “Authorize Access to this Account” button needs to be clicked. The Payment Description or the Payment ID is provided to the organizer, hence, Stripe is set up for the organizers.

    Admin Panel view

Setting fees/commission

  1. Go to the admin dashboard and click on WooCommerce. There, go to settings and then fees.

    Admin Panel view

  2. There you can see all the options you need to set up fees.
  3. Configure your desired settings such as fixed/percentage, label, minimum, etc.
  4. Save changes.

All done!

Let’s get started already!

Wherever you work and however you make it happen, split payments provide all events website owners with the prime solution to all the payment headaches. Every community event can now be organized and managed perfectly, with split payments providing you automatic fee collection and management using the excellent Stripe system in conjunction with WP Event Manager.

All sorts of businesses like salons, parks, concerts, hospitals, libraries, schools, and so many others, can now organize their community events using your platforms and be in complete control.