How do I configure my Payment Settings?

Follow

Once you've got your competition all setup and you are ready to configure your payment settings. Here. Please make sure to take a look at these payment configuration settings before you start selling tickets as you might not able to change it after the fact

In order to collect payments for an event and get paid out, you can optionally link to an existing Wodify Payments account or create a new one for your competition. Wodify Payments is powered by Stripe.

From the Payment Settings page 

Paying Fees

When using Wodify Arena, you can choose how you want to handle fees.

  • Pass fees on to participants: Include the registration fees in the ticket price (you pay nothing)
  • Absorb Fees: Deduct the registration fees from the final sale price. 
    *Once your first ticket has sold, you will not be able to change these settings
Tax Options: 
  • If you need to collect taxes on your ticket sales, select:
    • 'Yes, I need to charge taxes' 
    • Enter your country
      *Wodify Arena can only process payments for the US at this time*
    • Enter the 'Tax Name', this will appear on the ticket
    • Enter the 'Tax Rate'
  • Otherwise, select 'I don't need to collect taxes'

Refund Policy

Choose the refund policy for your competition that will be displayed on your competition page. Regardless of the option selected, you can manually issue a full refund to your participants up to 4 days after the end of your competition. All Wodify Arena fees will be returned, and the participant will receive their funds within 5 - 10 business days.

Refund Options:
  • No Refund: No refund at any time. RECOMMENDED
  • 7 days: Participants can ask up to 7 days before the competition starts.
  • 14 days: Participants can ask up to 14 days before the competition starts.
  • 30 days: Participants can ask up to 30 days before the competition starts.

Receiving Payouts

In order to receive the funds from your ticket sales make sure you configure your payment info below. The funds will be paid by direct deposit and the transfer of funds will be initiated within 5 - 10 business days after your competition ends.
 
If you're taking payments in U.S. dollars and your account qualifies, you can apply to receive payouts before your competition takes place to help cover for competition expenses.
 
With early payouts, you'll receive weekly payouts of 75% of net ticket sales. The final 25% will be paid by direct deposit and the transfer of funds will be initiated within 5 - 10 business days after your competition ends.
 
*Applications might take up to 3 business days to be received.
 
  • Select the Country in which you will be paid
  • Select the Currency
  • Select a Payout Account: 
    • If you have Wodify Core and use Wodify Payments for your merchant processing, you can click 'Login as Wodify Core admin to import account'. 
    • If you do not use Wodify Payments for your merchant processing, or you do not have use Wodify Core at all, you will click 'Add / Edit new Wodify Payment account'

Setting up your Wodify Payments Account

Complete the following fields to set up your Wodify Payments account for Wodify Arena!

  • Configuration Name: Name this configuration
  • Account Type: Individual or Company
    • If Individual: Enter SSN
    • If Company: Enter Business Legal Name & EIN
  • Address
  • Short Description of Business
  • Personal Details
    • Name on Account
    • DOB
  • Bank Details
    • Routing Number
    • Account Number
  • Credit Card Statement Details
    • Statement Descriptor: How charges will show on bank statements
    • Phone Number
  • Terms of Service Agreement: Read and check to Accept

Click Create Account and you are ready to start processing payments!

Comments