Complete guide: How to collect payments for your events electronically
Set up, cards accepted, currencies supported, payout schedules, manual & automatic refunds, & a reports dashboard!
OpenSports uses a payment system called Stripe that is fully integrated with our platform (web + iOS and Android app) so you can seamlessly collect payments at a lower cost than other platforms that help you collect payment for your events. Read here to learn about why we chose Stripe as our payment processing platform because of their focus on security.
When users pay for your events through the app, OpenSports charges a 5% + $0.30 transaction processing fee for every payment you collect, to provide you with integrated features that make managing your games incredibly easy!
OpenSports has support for collecting payment and sending direct deposits in 23 countries and 13 currencies through Stripe Connect:
Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, UK, USA.
How to set up your bank account to receive direct deposits
In order to set up your bank account to receive direct deposits, you must connect your OpenSports Account to Stripe through your Group (you can use the app or web):
Connect your bank account via Web
Go to your Group’s Page > Click “Payment” > Click “Link to Bank Account” > You will be re-routed to a secure page that allows you to link your bank account to Stripe Connect so that you can get paid out automatically whenever you host a paid event.
Connect your bank account via App
From your group page, tap on the three dots at the top right corner > Tap on “Payment” > Use the Country Selector to select your country > Click “Link to Bank Account” > Fill out all of the fields in the form!
Note: For Stripe connected accounts, ONLY the Group Admins have access to linking payment to a bank account. All paid events created under a Group will go to that Group’s bank account.
How to collect payment for events
- When you are in the “Create an Event” screen, input a price, or prices if you open up different spots.
2. The option to “Collect Payment via OpenSports” will automatically toggle ON. For more info on our low transaction fees, read here.
🇺🇸Accepted Cards (USA): Players can pay with almost all major Debit or Credit Card. Prepaid credit cards accepted if there is no PIN.
🇨🇦Accepted Cards (Canada): Players can pay with Visa, MasterCard, American Express (Debit not accepted at the moment).
🌏Accepted Cards (All other countries): Players can pay with most major debit and credit cards.
Automatic Payouts/Obtaining funds after your event
How often will you get paid?
To receive funds for payments you’ve processed, Stripe makes deposits (payouts) of your available account balance into your bank account.
Once you start processing with Stripe, your first payout is made 7–10 days after your first successful payment is received. Subsequent payouts are then processed according to your account’s payout schedule.
🇨🇦Payout schedule for groups in Canada:
Payouts contain payments processed seven calendar days prior. For example, payments received on a Tuesday are paid out by the following Tuesday.
🇺🇸Payout schedule for groups in the US:
Payouts contain payments processed two business days prior. For example, payments received on a Tuesday are paid out by Thursday, and payments received on a Friday are paid out by Tuesday.
🌏All other countries:
Check out your account’s payout schedule.
Automatic and Manual Refunds
When you collect payment for your events through OpenSports, OpenSports will issue automatic refunds if players cancel by your Refund Deadline! Read more about automatic refunds here.
Tap on “Manage game” > “View Details” > “Refund” for whoever you want to refund. That’s it!
Payments received dashboard
Go to the “Payment” tab in your group > Click “View Account Balance” to see your Stripe Dashboard:
Reconcile your finances and see how much money you are earning for each event, and how much money you’ve earned for all events within a specified period of time!
In the example below, the New Years Pickup event generated US $210 in revenue (gross, and including refunds) and $194.32 after transaction fees. There were 20 paid RSVP’s and 8 discounts were redeemed.
Learn more about all of the reports tabs here.
Now you’re ready to collect payment!
Questions? We are available every day to walk you through the steps if there are any issues. E-mail email@example.com.