Payment Processing and Revenue Release

Where an event’s revenue has been processed and collected in part or fully through any of The Ticket Fairy’s merchant accounts, our Payment Processing and Revenue Release Policy will apply.

Ticket Fairy  Payment Processing and Revenue Release Policy

1. Payment Processing:

   a.We shall process all customer payments securely through a PCI-compliant payment gateway.

   b.We will accept various payment methods, including credit cards, debit cards, and online payment platforms, as agreed upon with the client.

   c. All transactions will be subject to the terms and conditions of the payment gateway and the respective payment method used.

2. Revenue Collection:

   a. We  will collect the revenue from ticket sales on behalf of clients.

   b. The collected revenue will be held in a separate, designated account for each client.

   c.We will maintain accurate records of all transactions, including ticket sales, refunds, and chargebacks.

3. Chargeback Window and Risk Management:

   a. We acknowledge that customers have the right to initiate chargebacks within a specified timeframe, as determined by the card issuer or payment method used (typically 120-180 days).

   b. To mitigate the risk of chargebacks and ensure our financial stability, a portion of the collected revenue will be withheld for a predetermined period.

   c. The withholding period will be based on the chargeback window associated with the payment method and any additional risk factors identified by us.

   d. During the withholding period, we  will monitor for any chargeback requests or disputes initiated by customers.

   e. If a chargeback occurs, we  will follow the necessary procedures to respond to the dispute and provide evidence to support the transaction's validity.

4. Revenue Release:

   a. We  will release the collected revenue to the client after the chargeback window has closed and the risk of chargebacks has been deemed low.

   b. We will conduct a thorough review of the transactions and assess any potential risks before releasing the funds.

   c. The revenue release schedule will be communicated to the client in advance and may vary based on the event's nature, ticket price, and other relevant factors.

   d. In some cases, we may release a portion of the revenue earlier, subject to a risk assessment and agreement with the client.

5. Refund Policy:

   a. We will adhere to our  refund policy as shown here:   b. Refunds will be processed using the original payment method.

   c. We will deduct the refunded amount from the client's collected revenue and adjust the revenue release schedule accordingly.

   d. Once an event’s revenue has been paid to the client, no further refunds are possible and any such cases shall need to be processed directly by the client to the customer.

6. Financial Risk Management:

   a. We  will implement stringent financial risk management policies to protect us and our clients from potential losses due to chargebacks and fraudulent transactions.

   b. We will regularly monitor transaction patterns, identify high-risk events or customers, and take proactive measures to prevent fraudulent activities.

   c. We reserve the right to withhold or delay the release of revenue if there are significant concerns about the legitimacy of the transactions or the event's viability.

   d. We will maintain adequate financial reserves to cover potential chargeback losses and ensure our ability to process refunds when necessary.

7. Communication and Transparency:

   a. We will maintain clear and transparent communication with clients regarding the payment processing, revenue collection, and release policies.

   b.. Any changes to the policy will be communicated to clients in a timely manner.