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Conference Management

Engineered by Netcetera

 

Online Payment Towards Standardization

 

Today many still see online payment as a point of tentativeness due to security concerns.
However, if you follow recommended instructions and basic rules of handling your computer system, the risk for online payments is no higher than with payments done in traditional ways.
High standards of security such as 3-D-secure payment help you to prevent the fraudulent use of credit card information.
All transactions are stored in encrypted form on payment servers. The access to these systems is restricted, so privacy is always ensured.

Online payment by credit cards is a well-established widely used standard. As an organizer of events, you will profit in many ways.
Online payment methods with credit cards today use common international standards. You don’t need to use elaborate or complex procedures to inform customers how the procedure works. The card issuers, the acquirer banks and even the credit card brands follow the same worldwide standards. Therefore, today we have a generalized process and standards for payments spread over countries and continents.
In many cases, money is transferred faster and more reliably with credit card payments than with traditional money transfer methods. As an organizer, you receive payments in an earlier stage of the event’s organizational process.
Credit card fees are typically lower than bank transfer or check cashing fees, especially from one country to another.
Online payment brings so many benefits that it is only a question of time before seeing it everywhere. Large Internet shopping portals such as Amazon, as well as travel booking systems and online auction services, etc. support the deployment of this trend. People get more familiar with online ordering and online payment systems.
From year to year, the percentage of people using online payments is increasing. Current estimates are that 30-60 % in developed countries use credit card payments. The amount of usage in developing countries varies depending on the status of the market and usage of the Internet as new distribution channel.
International events in particular benefit from such standards. As an organizer, you will use online registration with online payment and you will receive the money in advance. However, you don’t have to ship goods or material. Only at the event do you have to provide the booked services to your customers. This is a big advantage compared to traditional merchants, which have to deliver goods immediately.
So you have always a lot of time to confirm payment status before you have to provide your offered services.
If you calculate the administrative cost for billing in the traditional way, you will find that each payment done by credit card helps you to save time and costs. As a typical example you might calculate for each paper billing administrative costs of around 60-70 euros (printing, mailing, accounting system, tracking of payment status, dunning etc.).
In Eveni we charge an all-inclusive fee for credit card payments of only 4.8 %. Each month you receive the money from registration transferred directly to your bank account.
So, reduce your administrative costs and provide your customers with modern online payment services.
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  • Summary

  • credit card payments follow worldwide established standards
  • easy to use
  • less administration
  • low transactions costs
  • see more about Online Payment