|By PR Newswire||
|January 21, 2014 12:30 AM EST||
LONDON, January 21, 2014 /PRNewswire/ --
A new ticketing company has come out of beta and forever changed the way organizers are charged for events. Picatic is the only ticketing company in the world where the cost is determined by the organizer. Their strong beta test results have inspired the team to make a full launch, integrate Stripe payments and expand to the U.K and the European Union markets.
CEO, Jayesh Parmar said, "We are the team and platform that is changing the ticketing and event world. Our goal is to empower organizers to create successful events by giving the power back to them". Jayesh also shared their most recent metrics, "We have 68% compliance which means if you take 100 organizers, 68 of them are choosing to pay for our services with an average of 3.1% net payment off their gross ticket sales."
Industry standards apply a base per ticket fee with additional variable fees. Event organizers absorb these fees and inevitably pass them onto their attendees. The Picatic platform has boldly gone away from base and variable fees; alternatively providing the organizer a 'no hook no gimmick' choice to pay what they want.
Upon completion of the event, organizers may choose to pay zero dollars, market or above market value in one payment.
Partnering with Stripe has opened up the market for Picatic. The European market was the first expansion after beta testing, as there was a high demand from event organizers. The team plans to continue expanding and reaching new markets this year.
"No one else is doing this in the world!" said Jayesh. "Ticketing companies gouge customers with high fees and we have to change this and now we're bring it to Europe."
ABOUT PICATIC: Picatic is the only ticketing company in the world where the cost is determined by the organizer.