Innovative solution provides seamless mobile payments and rewards across food & drink, merchandise and premium upgrades.
LiveStyled has announced a partnership with Stripe to offer their payment services through its smart venue platform.
The key impact of this partnership is in facilitating LiveStyled’s unified basket functionality, which allows visitors & fans to purchase food & drink, merchandise, premium upgrades, and anything else relevant to their live experience, all with a single payment.
Through Stripe Connect, LiveStyled can now automatically split payments across multiple different revenue streams and send them to different merchant accounts - something which is impossible with most traditional payment gateways. This enables LiveStyled to offer its unified basket without creating any additional reconciliation work for finance teams.
Further benefits include the addition of SEPA payments as an option, in addition to the existing debit / credit card, Apple Pay and Paypal options already supported by LiveStyled. This enables customers across Europe to make secure, trusted, direct bank transfers instead of using cards.
Customers also now have the option to add their payment details in advance without having to make a payment, so they can arrive at events already prepared for mobile purchasing.
Here we look at some of the quick wins working with Stripe will offer to venues.
Stripe automates the process of passing funds onto the relevant parties after each event. This opens up opportunities to run campaigns such as “VIP Lounge Pass with 4 drinks included” and “Buy a T-shirt and get a beer half-price” without creating any extra work for finance teams.
PCI DSS Compliance
Stripe tokenises the card details and LiveStyled stores the token to enable customers to carry out repeat payments quickly & easily. For our clients, this takes away the burden of holding sensitive customer data and removes all PCI DSS risk.
It’s inevitable, in any business, that occasionally a customer will require a refund. With Stripe and LiveStyled, the refund process is fully integrated with our Backstage app management system, meaning it’s just a couple of clicks and the operation is complete. It’s speedy for the customer, and easy for the customer service team.
LiveStyled’s Reward module includes the ability to configure “Credit Campaigns” which reward customers with virtual currency in exchange for certain actions (e.g. spending over a certain amount, registering their details and more). Through Stripe, this Credit can be automatically reconciled to make it easier for our clients to make use of this powerful functionality to drive incremental revenue.
Clients have the ability to monitor payments via a real-time dashboard, giving commercial, finance & customer service teams visibility of incoming funds.
There are many ways in which LiveStyled’s partnership with Stripe can improve the day-to-day running of customer payments at venues and events. If you would like to find out more or arrange a demo, simply contact us.
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