How much does Evounce cost?
For event planners, using Evounce as a platform is free-of-charge. Planners only pay for the products and services they buy from vendors. The vendors only pay the net cost price of our payment solution Stripe (currently 3%), not for using Evounce as a platform. Thus, using Evounce is also free-of-charge for vendors. We are currently working on advanced features for vendors. This will not change, that the current features of Evounce are free-of-charge for vendors.
How do planners pay the vendors?
Payments are made directly on the Evounce platform. Evounce uses Stripe as our payment provider, which allows users to pay with any type of credit card.
When do planners pay the vendors?
Planners are required to pay for all booked services before the event takes place. The funds then stay locked in a holding account until 14 days after the event has taken place, at which time they are transferred to the vendors' accounts. This results in added security for both sides: The planners are granted a certain time frame in which they can dispute the purchase of a service (e.g. if it was not fulfilled as agreed in the contract) and on the other hand, the vendors can make sure ahead of time that they are going to get paid the entire asked price.
What is the cut?
Evounce is free-of-charge for event planners and the Vendor Basic. The 3% that is deducted from the income of the vendor is the price that Stripe charges in order to collect the payment from the planner and then later, pay it out to the vendor. It only becomes effective once a payment was made.
How do vendors pay Evounce?
Planers do not pay Evounce, vendors only pay a small payment fee to Stripe (currently 3%). This amount is automatically deducted from the payment the planner made for the service that was bought from the vendor. The vendor then receives the full payment minus 3%.