New Zealand-based event ticketing and marketing platform Eventfinda is set to offer a buy now, pay later feature through a partnership with LatitudePay.
Eventfinda, which is New Zealand’s largest independent ticketing company, provides a ticketing system built specifically for performing arts venues, events and festivals.
The Australian flexible payment platform allows ticket buyers to pay for their purchase over 10 interest-free weekly instalments – right up to the day of an event.
The partnership with LatitudePay allows anyone ticketing their event with Eventfinda to opt-in to offer LatitudePay, giving event organisers, promoters and venues the option to offer greater flexibility to their customers.
Anna Magdalinos, head of ticketing at Eventfinda, said: “Our dedication to the events industry will always drive the innovation of our product and any partnerships we embark on. LatitudePay offers our customers benefits they will see both financially and through increased customer satisfaction.”
The fees for event organisers are specified during set up and deducted from their final settlement from Eventfinda following the event. Payment is made in full and the collection of purchase amounts is handled by LatitudePay so the credit risk is removed from the organiser.
Ticketbuyers will be required to pay a NZ$10 late fee if a payment is missed.
Merchants using LatitudePay, which has 170,000 customers in Australia and has been used by merchants since 2019, saw an average transaction value of A$270 in 2020.
James McGlinn, chief executive of Eventfinda, added: “This payment option has no upfront fees for ticket purchasers and is simple to apply for so we’re really pleased to be able to offer it to our ticketed events.
“There are huge benefits to LatitudePay for both our event organisers and their patrons, and the application process is simple. Ticket buyers can apply for a LatitudePay account in under two minutes to get a spending limit up to $1,000 – subject to an ID and credit check. Their ticket purchase is processed normally through Eventfinda and split into 10 weekly payments, so they can enjoy the events they love with financial flexibility while our event organisers receive payment in full.”