Promotional Sales Platform
Secure Financial Flows and Reconciliation
Your sales, your funds, at your pace
The funds processed by Spinzo belong to you, our respective clients, at the point of transaction. The funds never enter Spinzo's legal possession. Upon transasction, they reside in an account with the payment processor that is legally owned by you. You also choose the payout frequency from that account into your bank account. It could be daily, weekly, or monthly. No need to wait until the event date for the funds. This eliminates the financial risk of working with Spinzo.
Maintain familiarity on buyer credit cards
The full and entire name of what appears on the buyer's credit card transaction record is up to you. No part of the credit card statement says Spinzo. The name is yours to choose, and the location is your location. This is only possible because Spinzo clients are the legal merchant of record and owner of the processed funds. Maintaining this familiarity is crucial in that it minimizes chargebacks due to unknown transactions.
Reconciliation made easy
The entire flow of funds to Spinzo client bank accounts is seamless, organized, and reconciled. On the Spinzo dashboard, you can see when funds are scheduled to enter your bank account, then you can drilldown to see the full reconciliation details - Totals by Spinzo order, ticketing system order, and event. Refunds from a prior deposit are withdrawn, itemized, and reconciled as well. These reports are searchable and exportable. Incoming fund deposits to your bank account say "Spinzo".
Flexible fee options for buyers
There are no one-time fees, no monthly fees, no chargeback fees, no user/license fees, and no fraud fees with Spinzo. The platform simply retains a low percentage of what has been processed. Clients can generally choose from one of the following options:
- Charge the entire fee amount to the buyer as a surcharge. Spinzo will calculate and add the fee accordingly. In this approach, Spinzo can also optionally showcase to the buyer the total amount of fees per ticket upfront, to comply with fee disclosure requirements.
- Embed the entire fee in the ticket price. Here, you are not even informing the buyer that there is a fee. You're simply stating that the price includes all fees. Spinzo will retain its fee percentage from the total.
- A mix of both approaches. You can choose how much of the fee should be a surcharge and how much should be embedded.
Refunds are easy and streamlined
Refunds can be conducted directly on the management dashboard of Spinzo, only for certain privilege types. When you choose to do a refund, Spinzo refunds the entire amount to the buyer: the ticket price plus the fees. Spinzo then returns to the client the entire amount of money for the tickets. As a result, Spinzo actually faces a loss during a refund, for the transaction fees. Spinzo covers the transaction fees as a courtesy and does not invoice clients for this. Feel free to conduct as many refunds as you'd like with no cost burden.