Understanding Spotix Fees
So, let's talk about fees on Spotix.
We know that pricing can sometimes be confusing, especially when you're dealing with different products and different types of transactions. In this post, we'll break down Spotix's pricing structure across the different services we provide, so you know exactly what you're paying for and when.
EVENTS
Events on Spotix have a default fee of 5% + ₦100 per ticket.
This fee is non-refundable and is charged per ticket in an order. The fee helps us maintain and improve the critical infrastructure that powers the smooth experience Spotix provides, from ticket purchases to event management.
Spotix may, at its discretion, reduce the fees charged on events. Any applicable reduction will be reflected in the fees charged for the event.
Payment Processor Charges
In addition to the Spotix fee, there may be a Payment Processing Charge (PPC).
This charge goes directly to the payment gateway that processes your transactions and provides the fast and seamless payment experience you get on Spotix.
The PPC is paid to the payment provider, not to Spotix.
The exact amount may depend on the payment method or payment provider used for the transaction.
POLLS
Polls have a fixed 5% royalty charge.
This charge is applied to each vote. In other words, for every vote made, Spotix charges 5% of the amount paid for that vote.
Unlike Events, there is no flat fee per vote. The charge is calculated as a percentage of the amount paid.
So, whether your poll has ₦100 votes or ₦10,000 votes, the Spotix charge remains 5% of the amount paid.
ELECTIONS
Elections have a 10% charge on election forms.
This means that whenever a candidate purchases an election form to participate in an election, a 10% Spotix fee is applied to the cost of the form.
For example, if an election form costs ₦10,000, the Spotix fee would be ₦1,000.
The candidate would therefore pay ₦11,000 in total, assuming the fee is passed on to them.
WHO PAYS THE FEES?
Here's where things get interesting.
As a Booker, you can decide who bears the cost of the Spotix fees and, where applicable, the Payment Processing Charge.
You can choose to:
Pass the fees to your customers, meaning the customer pays the applicable Spotix fee and PPC in addition to the ticket, vote, or form price.
Absorb the fees yourself, meaning the customer pays only the price you've set and the applicable fees are deducted from your earnings.
Share the fees, where the available settings allow you to absorb part of the fees and pass the remaining amount to your customers.
This gives you more control over how you price your tickets, votes, and election forms.
If You Absorb the Fees
If you choose to absorb the fees, Spotix will deduct the applicable fees from the amount available for you to withdraw.
For example, if customers pay ₦10,000 and you choose to absorb the applicable fees, the fees will be deducted before the remaining balance becomes available for withdrawal.
This means the amount you can withdraw may be lower than the total amount collected from customers.
The choice is yours.
You can decide whether you want your customers to pay the fees, whether you want to cover them yourself, or whether you want to split the cost.
At Spotix, we believe you should have the flexibility to structure your pricing in the way that works best for your event, poll, or election.