TicketMax launches new payment plan feature

Fans purchasing tickets to Home Coming 2025 and other major concerts can now split their payments into instalments.

Events ticketing platform TicketMax has launched a new payment plan option to allow customers to afford pricier concert tickets and boost ticket sales for organisers - a win for the fans and the festivals.

The success of Pacific music legend George “Fiji” Veikoso's Home Coming music festival last year showed what was possible when hosting a major entertainment event in the islands. With more fans wanting to experience the hype, TicketMax developed a solution that would give everyone the chance to go to their favourite shows.

"I am grateful to George 'Fiji' Veikoso for his vision that brought us this amazing event," TicketMax founder George Fong told this masthead.

"As we moved into planning for this year’s Home Coming, the organiser relayed feedback that a significant number of fans had requested a way that allowed them to pay off their ticket in instalments. This was what started us down this path."

TicketMax founder, George Fong.

From there, TicketMax focused on a strategy to integrate payment plans into the platform.

Mr Fong and his team undertook research, worked with contacts in other markets who had existing implementations, and developed a plan for building a functional product. 

After several months of work, they released the feature, which drew inspiration from overseas ticketing platforms that integrate 'buy now, pay later' services. Customers can now opt into payment plans. 

Mr Fong said the biggest challenge was the uncertainty of the whole process. 

"Without existing market players or data, it was kind of a shot in the dark," he said.

"We had received requests for payment plans - and had a hunch it might work - but whether that will turn into actual usage is another question.

"As a bootstrapped startup with limited resources at our disposal, we cannot just build anything and everything, and so there was a calculated risk in focusing resources on this."

Mr Fong did not disclose the exact cost of development, but said the team was able to keep costs "manageable" by utilising local talent and in-house experience. 

"This is a huge benefit of being a 100 per cent Fiji-designed and -built platform, and having complete ownership over our software platform and codebase, so it is something I am very proud of," he said. 

How does it work?

Buyers can select a ticket of their choice for a select event, and in the payment method drop-down box of the buyer details section, they can choose the 'TicketMax Payment Plan' option.

When they agree to pay, they will be taken to a Payment Plan Agreement, which contains their order summary, Payment Plan Terms and Conditions, a Payment Schedule Overview (detailing all the fees involved), and payment instalment options to choose from. Buyers can pay in four, six or eight instalments. 

What's the Payment Schedule Overview? Buyers will be asked to pay a required 25 per cent initial deposit of the total order value. That total includes a $20 fixed, non-refundable administration fee. The remaining balance is split across the chosen repayment term. 

Payment plans incur 0 per cent interest.

Payment plans are not automatic, so buyers must initiate the payment by logging into TicketMax. Buyers also have the option to pay their total order amount early or delay payment until a later date, without incurring a penalty.

However, they risk losing their order if they fail to make the whole payment by the final due date. 

Consumer choice

For fans who want to purchase tickets on their own terms, these payment plans could be a lifeline.

While there are concerns that 'buy now, pay later' services, at least internationally, could worsen the debt burden, Mr Fong believes TicketMax payment plans offer customers a flexible choice they can always opt out of.

"Events are getting more expensive (both because of inflation and because they can command such a price)," he said.

"The value is in the eye of the buyer, and events such as these are not mandatory to attend. It is entirely the buying public’s choice, and we want to allow them as much flexibility as possible in making these purchases.

"This is, overall, an easier and more customer-oriented option for buyers. It can be argued that this will increase household debt. However, if the household were buying those tickets anyway, they’d have to raise the full amount (or turn to other, more expensive sources of funding) before they could commit.

"As more events offer Early-Bird specials and deals, locking in an order earlier and paying it off over time can easily save money for a household."

Feedback: jernese.macanawai@fijisun.com.fj