There are two ways that event coordinators typically handle payments: either outside Virtual Event Bags
using their own invoicing, tracking and reporting, or using Content Builder Payments
to let Virtual Event Bags help them simplify the process. As of February 26th 2016, all new bags in the United States will default to using Content Builder Payments
instead of billing outside the system.
- Note: If you are located outside of the United States, Content Builder Payments is not available to you.
Billing outside the system:
- Send placement invitations to companies
- Company creates and submits a placement into your bag
- You receive an email notification of the placement submission
- You contact the company for payment
- You deactivate the placement until payment is received (see: Deactivating Payments)
- Payment arrives and you reactivate the company placement
Using Content Builder Payments:
- Note: Revenue collected through this tool will incur a processing fee of 10% which will be taken out of the total processed revenue. Most of our partners choose to compensate this 10% fee by working this amount into their sponsorship and vendor fees.
- Set up Placement Types to align with your sponsorship levels (see: Define Placement Types)
- Send placement invitations
- Company creates, submits and pays for placement in bag
- You receive notification of placement submission so you can begin fulfilling your side of the sponsorship agreement
- Payments are processed by VEB