Payment Processing & Fees

Effective Date: October 06, 2024

At OMS2 powered by Commonly, we believe in transparency when it comes to how payments are processed and what fees apply. This page explains our payment processing system and the fees that event creators and attendees should expect.

1. Payment Processing with Stripe

We use Stripe, a trusted and secure payment processor, to handle all transactions on the OMS2 platform. Stripe ensures that payments are processed safely and efficiently for both event creators and attendees. Here's how it works:

  • Ticket Payments: When an attendee reserves a ticket, no immediate charge is made. Payments are only processed once the event has reached its ticket reservation threshold.
  • Once the event is confirmed, Stripe will automatically charge the attendees' payment method and the revenue will be disbursed to the event creator after fees are deducted.

2. Platform Fees

OMS2 powered by Commonly charges a flat 8% platform fee on every successful ticket sold. This fee supports the ongoing maintenance and development of the platform, helping us provide the best possible experience for event creators and attendees:

  • Platform Fee: 8% of the ticket price.
  • This fee is deducted from the ticket sale once the payment is processed, ensuring that creators only pay when their event is successful.

3. Stripe Payment Processing Fees

Stripe charges a standard payment processing fee for each transaction. These fees are automatically deducted from the ticket price when the payment is processed:

  • Stripe Fee: 2.9% + $0.30 per transaction.
  • This fee applies to every ticket sold and is deducted along with the platform fee before the remaining revenue is transferred to the event creator.

4. Referral Program Fees (Optional)

Event creators have the option to use the Ticket Split Referral Program to incentivize users to promote their events. The referral commission set by the creator is also deducted from the ticket price:

  • Referral Commission: Set by the event creator (e.g., $2 per ticket sold via referral).
  • This commission is deducted from the ticket price and paid directly to the referring user before the final revenue is transferred to the creator.

5. Example Fee Breakdown:

Let's break down how fees are calculated for a typical ticket sale:

  • Ticket Price: $50
  • Platform Fee (8%): $4.00
  • Stripe Processing Fee (2.9% + $0.30): $1.75
  • Referral Commission (if applicable, e.g., $2): $2.00

Total Fees: $7.75
Revenue for Event Creator: $42.25

6. Revenue Disbursement

  • Once the event is confirmed and tickets are sold, the remaining revenue after all fees (platform, Stripe, and referral) are deducted will be disbursed to the event creator's Stripe account. Payouts are typically processed within 7-10 business days after the event is completed.

7. Refunds and Cancellations:

  • If an event is canceled before it reaches the ticket reservation threshold, attendees will not be charged, and no fees will apply. For events canceled after confirmation, all refunds will follow the Refunds and Cancellation Policy, and fees may be refunded depending on the specific circumstances.

8. Contact Us

If you have any questions or concerns regarding this Dispute Resolution & Legal Policy, or need assistance resolving a dispute, please contact our legal team at:

**OMS2**

help@oms2.org

We are committed to maintaining a fair and transparent platform for all users and will work with you to ensure any disputes are resolved efficiently and professionally.