Everything You Need to Know About EvoPay
What is EvoPay?
Evopay is a revolutionary new monetary system designed specifically for ticket brokers to instantly transact with each other. EvoPay offers significant savings over credit card fees and eliminates the need for overnighting checks and risk in them potentially bouncing.
There is no other payment mechanism currently available that offers the savings, ease of use, seamless integration and simplicity that EvoPay offers.
What fees are involved with EvoPay?
Setup Fees: $0.00
Cost to deposit money: $0.00
Cost to withdraw money: $0.00
Cost to send money: $0.00
Cost to receive money: 1%The 1% fee is currently being waived on all EvoPay transactions during our trial period so begin taking advantage of these savings immediately!
How do I fund my EvoPay account?
Depositing money into your EvoPay account is simple. There is a one time application that needs to be completed authorizing Ticket Evolution to ACH your designated bank account anytime your request to deposit or withdraw money from EvoPay. After that any company users with the appropriate permissions can log into the Ticket Evolution Broker Exchange and submit a request.
Do I need to maintain a minimum EvoPay balance?
No, there is NO minimum balance that needs to be maintained in your EvoPay account. You can withdraw and deposit funds as you please with no associated fees.
Can I deposit or withdraw money from my EvoPay account at anytime?
Yes, you can deposit or withdraw any available funds in your account at anytime. Please note that there is a 48-72 hour period after a deposit when your funds are pending and cannot be withdrawn during that period but you can withdraw any non-pending funds at any time.
How long does it take for my deposit to become available in the EvoPay system?
Due to ACH regulations, a typical ACH will take 48-72 business hours to fully clear. The funds will instantly show up in your EvoPay account as pending and will remain in the pending state for the 48-72 business hour clearing period.
How long does it take for a withdrawal to hit my bank account?
When withdrawing funds out of your EvoPay account, the ACH will take place the same day if you submit the request prior to 5PM EST Monday through Friday excluding Holidays. Typically an ACH will hit your account within 24 business hours.
Will I ever be forced to take a "bad" order because it was sent over using EvoPay?
No, we do not confirm any orders for you. If you receive an EvoPay order then you will have 3 business hours to accept or reject the order. If you do not perform any actions in those 3 business hours the order will automatically be rejected. Brokers can however send you EvoPay funds not tied to a specific ticket group and these funds will automatically hit your account without you accepting them. This would be for broker to broker payments for orders outside of our exchange or simple AP/AR reconciliation.
How long do I have to accept an EvoPay order?
You will have a period of 3 business hours to accept or reject your EvoPay order. If you do not perform one of the required actions then the order will be automatically be rejected after 3 business hours and you will lose the order.
Why do I have only 3 business hours to accept an EvoPay order?
Due to the nature of tickets constantly selling and prices always moving, buyers need to know ASAP if the requested tickets have been confirmed so they can inform their client. EvoPay has been designed to save brokers money and allow them to instantly transact with each other. It will not be used as a mechanism to take orders to fall back on if they are unable to receive a higher offer elsewhere.
If the Ticket Evolution Exchange team recognizes any trends similar to the one mentioned above, all EvoPay priveleges will be removed from your account and you will not be able to instantly and effortlessly sell tickets to other brokers on Ticket Evolution as well as forfeit the savings realized with EvoPay.
Can I place an EvoPay order right up until the event start time?
You can place an EvoPay order at anytime by clicking "buy" on the selected ticket group. If it is close to the event start time it is highly recommended that you call the broker first to make sure they are still able to deliver the tickets before sending the order over. If you place a last minute order and it is not confirmed, it will automatically be rejected after 3 business hours if it is not accepted.
What do I need to do to get started with EvoPay?
Getting started with EvoPay is simple. All you need to do is fill out the brief ACH Authorization form and you will then be able to begin realizing all of the great benefits of EvoPay.