Installments

We have always offered a 3 payment plan but this year because of the economy we have stepped it up to a 3, 6 and 9 payment plans!  The 3 payment plan is available by check and credit card.  We pay all of our orders to invoice so we can print the tickets in advance of receiving all the money.  As for the schedule, the 3 payment plan has set dates (for paper invoice purposes) and the 6 and 9 are billed every 30 days.  I set up these date spreads in TR_Billing Schedule to make it easier on the CSRs. 

Then we run the invoice billing report to automatically run the credit cards (everyday) and also run paper bills for those who paid by check on our 3 payment plan. 

As for nonpayment, this is our first year with the longer range of installments so we shall see but as for the 3 pay, we always have some people whose credit card ends up being bad but we call and are able to resolve 99% of those issues. 

We definitely are seeing more people take advantage of them this year, and it does delay when your money hits but that is not a problem in our case. 

 

As for all the logistics involved, I would be happy to go into more detail if you would like! 

 

Here is the text from our subscriber materials about the plans:

 

*NEW! A Variety of Payment Plans.

1)  Renew by April 17 for THREE billing payments by check or credit card with no processing fee.

2)  NEW! Renew by May 22 for SIX billing payments by credit card.

3)  NEW! 10 Show Subscribers Only: Renew by May 22 for NINE billing payments by credit card.

If you pay by check, you will be invoiced with your remaining payments due on May 22 and June 26.  If you pay by credit card, you will automatically be charged in 30 day intervals.  Six and nine month options are available by credit card only and are accessed a $1 per installment processing fee.

 

Thanks!

Amanda

 

Amanda Sheehan

Ticket System Administrator

Cincinnati Playhouse in the Park

 

 

 

 

 

Hi all,

We are thinking about offering payment plans as a way for people to pay for series subscriptions (we essentially have a choose your own package setup). We're worried about whether the economy will affect subscriptions and we think that maybe by allowing them to pay in installments they won't shy away from getting a subscription.

Do you offer this? How do you do it, if you do? Do you just do it with people who provide credit cards? How many installments in a payment plan do you allow, and do you allow the patron to pick the number of installments, or do you set it? Do you set a minimum? Do you ever have problems with nonpayment or bad credit cards?

One of the concerns that's been raised is that we offer discounts during the subscription period so that we can get the money in advance. If you've offered payment plans for awhile, have you seen more and more people take advantage of them, or is the percentage about the same from year to year?

Thanks for any guidance!

Leigh

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Leigh Chandler

Director of Marketing

Flynn Center for the Performing Arts

153 Main Street

Burlington, VT 05401

802.652.4509 direct

802.863.8788 fax

www.flynncenter.org

www.flynntix.org

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