Events with deposits and installments
Corsizio provides you with the ability to accept online deposit payments for your events. This feature is configured and enabled per event, not account-wide. You can use it to collect a partial amount of the full price as an online payment on the initial registration.
Note: To accept deposit payments as part of the online registration process, you must enable online credit card payments on the event, and have your Corsizio account connected to your bank account via Stripe.
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Deposit payment uses
Here are some examples of when deposit or partial payments may be required for an event:
- You would like to secure a commitment from your attendees for your event, and give them the option of paying a deposit only or the full payment upfront.
- Your event has a big-ticket price or requires a large financial commitment. In this case, you would like to break it up into two payments: an initial deposit payment and a final remainder payment.
- You would like to save on online processing fees while you secure a commitment from your attendees. In this case, you would charge a (small) deposit as online payment, and collect the (large) reminder as offline payment.
- You wish to offer your attendees the option to pay in installments. (See the installment and manual payment section below.)
How to use the deposit payment feature
To enable this feature for an event, follow these steps:
- Go to Step 2 – Pricing & Payment when you are creating or editing the event that you want to have the deposit feature.
- Turn on "Enable online deposit payments" to have this feature and fill in the deposit amount you would like to collect. You can enable or disable this feature on an event at any time. You can also fill in an "Effective Before" date if you need to restrict the timeframe when such deposit payments can be accepted.
- Turn on "Enable pending payments automatic email reminders" if you would like such reminders to be sent to attendees who owe money as part of their partially-paid event registration.
When you are finished with this event step,
Save & Exit or proceed to the next event step.
Note: Be sure to set up your event pricing accurately before you start accepting registrations for efficient reporting and business practices.
Installment and manual payments
While Corsizio does not have a specific installment payment feature, it provides you with an automated flow for the initial deposit payment and final payment online, which are essentially two installments.
If you require more installment payments, then you can collect as many installments as you need manually. These can be in the form of online payments and offline payments. It is best practice to add and enter these payments manually on the attendee’s registration panel in Corsizio to ensure that attendees are sent a receipt, and your reports and records are most accurate.
For example, if an event is $500 and someone gives you $100 in the form of cash or a direct money transfer each month, then you would apply that to their registration manually each month. After each payment is applied, you have the option of sending the latest, updated receipt that shows all amounts paid and any amounts still owing. This receipt can be re-sent at any other time as well.
Note: Each online credit card payment, whether it is a deposit, final, full, or manual card payment, that is processed on Corsizio is subject to online payment service fees. If you process a credit card payment through your own payment terminal on location or accept cash, check, or any other payment form, these are not subject to any online payment service fees when you record them in Corsizio.
How deposit payments are displayed
The first place that your audience would normally learn about the option to pay a deposit for your event is on the public event page. When you are creating your event, as part of Step 3 – Description & Content, you may wish to share with your audience information about the deposit option, such as the amount and date until when it is accepted.
Then, when people register for the event, they will be presented with the deposit option on the event registration form. If they check this option, they will only pay the deposit instead of the full amount.
Deposits with coupons and taxes
If you have enabled coupons on the event, the full amount will be discounted by the amount of the coupon accordingly but the discount does not affect the deposit amount that you set to be collected. The discount lowers the remaining payment owing.
If you have enabled taxes on the event, the taxes on the full amount will be split accordingly between the desposit amount and the remaining payment amount.
The following example shows a registration form that has enabled deposits, coupons, and taxes.
Upon registering, the attendee is emailed a confirmation receipt, which breaks down their payment details, and provides them with the option to pay the remainder at any time online, or offline if you enable that option for them. Whenever an online payment is made, they are sent an updated confirmation receipt email that reflects the amount paid and pending, as applicable.
As mentioned in step 2 above, you have the option to have Corsizio send your customer an automated payment request at some prior time to the event that you choose. This will target only those attendees who have not yet paid you the balance owing.
Note: For optimum security, Corsizio does not save your customers' credit card data. If your customer pays in installments or requires some additional charge, which they would like on their credit card, they must input or give you the card number directly each time. It is your responsibility to handle that credit card number with utmost security.