Afterpay has become an increasingly popular payment option for consumers looking to pay for purchases in installments over time. With many major retailers accepting Afterpay, consumers may wonder if it can also be used for ticket purchases on Ticketmaster.
What is Afterpay?
Afterpay is a type of ‘buy now, pay later’ service that allows shoppers to split purchases into 4 interest-free payments over 6 weeks. The service does not require a credit check to use. Afterpay charges retailers a fee for providing the installment payment service.
To use Afterpay, shoppers need to download the Afterpay app and connect a debit card or bank account to make the installment payments. At checkout, if a retailer accepts Afterpay, the customer can select Afterpay as the payment method. The first installment of 25% of the purchase price is due at checkout. The remaining balance is split into 3 payments due every 2 weeks thereafter.
Afterpay is designed for smaller purchases, with a maximum purchase amount between $200-$2000 depending on the customer’s account. It aims to appeal to younger shoppers looking for flexible payment options.
Can You Use Afterpay on Ticketmaster?
Unfortunately, Ticketmaster currently does not accept Afterpay as a payment method for ticket purchases on their platform. Ticketmaster only accepts major credit cards such as Visa, Mastercard, American Express, and Discover.
Afterpay does have partnerships with other ticket sellers like SeatGeek and Eventbrite. However, for tickets sold directly through Ticketmaster, Afterpay is not an option.
This means buyers looking to use installment payments for Ticketmaster purchases will need to use a credit card that offers flexible financing options, such as Affirm.
Why Doesn’t Ticketmaster Accept Afterpay?
There are a few potential reasons why Ticketmaster does not accept Afterpay at this time:
– Integration Issues – Integrating with a new payment platform like Afterpay takes time and resources. Ticketmaster may not have prioritized setting up the systems to support Afterpay yet.
– Higher Costs – Credit card processing fees are already high for ticket sales. Afterpay’s merchant fees may be too costly compared to standard credit card processing.
– Risk of Cancellations – Tickets are a non-returnable purchase. If a buyer were to cancel Afterpay payments, Ticketmaster could lose out on the ticket revenue.
– Established Payment Options – Ticketmaster already accepts all major credit card brands, Apple Pay, PayPal, and its own installment plan options. Adding Afterpay may not significantly improve the checkout experience.
– Slow Adoption in Ticketing – While Afterpay is popular among fashion and beauty retailers, it may not have reached critical mass adoption in ticketing and event spaces yet.
Could Ticketmaster Accept Afterpay in the Future?
While Ticketmaster currently does not take Afterpay, there is a possibility they could enable it in the future.
Afterpay continues to expand into new spending categories and partner with larger retailers. As it becomes more mainstream, the risks and integration challenges for Ticketmaster may decrease over time.
If customer surveys and feedback show demand for Afterpay as a payment option, Ticketmaster may be prompted to add it. Since Ticketmaster has enabled other digital wallets like Apple Pay and PayPal, they have the capability to integrate Afterpay as well.
Here are some factors that could lead to Ticketmaster accepting Afterpay down the road:
– Mainstream Adoption – If Afterpay sees even more widespread adoption, especially among Ticketmaster’s target audience, it may make sense to meet customer payment preferences.
– Benefits for High-Price Purchases – Afterpay could help encourage higher ticket spending amounts by letting buyers split payments. Higher per-order values is beneficial for Ticketmaster.
– Partnerships with Live Nation – Since Live Nation owns Ticketmaster, a partnership between Live Nation and Afterpay could incentivize offering Afterpay as an option.
– Competitive Pressure – If other major ticket retailers begin accepting Afterpay, Ticketmaster may follow suit to keep up with competitor payment offerings.
Risks of Using Afterpay for Tickets
While the flexibility of paying for tickets over time with Afterpay is appealing, there are some risks consumers should keep in mind:
– Late Fees – Afterpay charges up to $10 late fees per payment if installments are not paid on time. This can significantly drive up the cost.
– Cancelled Plans – If you end up unable to attend the event, you will still need to pay the remaining Afterpay installments. Tickets are non-refundable.
– Budgeting Difficulties – Splitting a ticket purchase into multiple payments can make it harder to keep track of your overall budget and spending.
– Credit Impacts – While Afterpay doesn’t require a credit check, missed payments can be reported to credit bureaus and hurt your credit score.
– Order Cancellations – If you miss an Afterpay payment, your ticket order could be cancelled, leaving you without a ticket for the event.
Afterpay Alternatives for Ticketmaster
Since Afterpay is currently not accepted on Ticketmaster, what other options exist if you want to finance ticket purchases? Here are some alternative installment payment methods to consider:
Ticketmaster’s Monthly Payment Plan
Ticketmaster offers its own monthly payment plan called Ticketmaster Payment Plan. It allows you to split ticket orders over 2-6 monthly payments using a Ticketmaster account and saved payment method. There is a $5 monthly fee and no interest is charged. This could be an easy option since it is directly integrated into Ticketmaster.
Major Credit Cards with Financing Offers
Many major credit card issuers like Chase, Citi, and Capital One offer promotions where you can finance large purchases over 12-24 months at 0% interest. You will need to pay the balance in full by the end of the promo period to avoid deferred interest being charged. Open a card with a strong financing offer to pay for your tickets over time without extra fees.
Affirm
Affirm is another buy now, pay later provider similar to Afterpay, except they do charge interest on longer term financing plans. While not integrated into Ticketmaster yet, Affirm can be used to finance purchases from thousands of online retailers. So you could purchase Ticketmaster gift cards with Affirm to achieve the same outcome.
PayPal Credit
PayPal Credit allows you to finance any purchase over $99 for 6 months without upfront fees or interest. Since Ticketmaster accepts PayPal, you can use PayPal Credit at checkout and select the PayPal Credit financing offer. Just make sure to pay off the balance before the promotion period ends.
How Afterpay Works with Other Ticket Sellers
Although Ticketmaster does not offer Afterpay currently, Afterpay has been adopted by some other primary and secondary ticket marketplaces. Here is an overview of how Afterpay can be used for ticket purchases on other platforms:
SeatGeek
SeatGeek, an online ticket reseller, partnered with Afterpay in 2020 to offer installment payments on ticket orders. The process works similarly as with other Afterpay retailers. Customers simply select Afterpay at checkout to split their SeatGeek ticket purchase into 4 equal installments over 6 weeks.
Eventbrite
Eventbrite began accepting Afterpay for ticket purchases in 2021. The option is available on both desktop and mobile. Customers can use Afterpay to buy tickets for concerts, festivals, conferences, classes and more sold through Eventbrite. The 4 payment installment plan applies.
Vivid Seats
Vivid Seats, a large ticket resale marketplace, also offers Afterpay on ticket orders above $50. During checkout, buyers can choose to split the total ticket order amount into 4 interest-free payments due every 2 weeks. This provides more flexibility in financing ticket resale purchases.
StubHub
StubHub currently does not accept Afterpay as a payment method. StubHub only accepts PayPal Credit or major credit cards directly. However, you may be able to purchase StubHub eGift cards using Afterpay and apply them towards ticket purchases to simulate the same outcome.
NFL Ticket Exchange
Afterpay can be used to finance ticket purchases on NFL Ticket Exchange, the official ticket resale marketplace of the NFL. Fans can buy NFL game tickets using the 4 payment installment plan through Afterpay. This allows more budgeting flexibility for expensive sporting event tickets.
Pros of Paying for Tickets with Afterpay
Assuming a ticket retailer accepts Afterpay, there are some advantages to using it versus other financing options:
– No interest – Afterpay installments are completely interest-free, only requiring 25% down. Credit cards may charge deferred interest if not fully paid off.
– No credit check – Afterpay approves customers without a credit inquiry, making it accessible to those with limited credit history.
– Shorter terms – Afterpay plans are only 6 weeks long. Other financing requires minimum 12 months.
– Budgeting – The installment plan can help you budget for a large ticket purchase rather than paying all at once.
– Easy to use – Afterpay integrates seamlessly into existing checkout flows. Just select it as the payment option.
– Accepted widely – Over 100,000 retailers accept Afterpay across categories, so it can be used to finance other purchases too.
– Fees capped – Afterpay’s late fees are capped at 25% of order value, limiting risk compared to credit card interest and penalties.
Cons of Paying for Tickets with Afterpay
There are also some potential disadvantages to keep in mind with Afterpay:
– Late fees – If you miss a payment, up to $10 late fees per installment can add up quickly.
– Inflexible terms – You can’t pay off an Afterpay balance early or skip a payment. The payment schedule is fixed.
– Order cancellations – Your ticket order could be cancelled if you are late on a payment which means losing the tickets.
– Credit impact – Missed payments are reported to credit bureaus and can negatively impact your credit score.
– Requirements – Afterpay has a maximum purchase limit between $200-$2000 depending on the customer.
– Limited retailers – While Afterpay is growing, it is still not as universally accepted as credit cards.
– App required – You need to have a smartphone and download the Afterpay app to track payments and manage your account.
Should You Use Afterpay for Ticket Purchases?
Whether or not paying for tickets using Afterpay makes sense depends on your financial situation:
**Afterpay is best for buyers who:**
– Struggle with large upfront payments – Afterpay only requires 25% down so is more cash flow friendly.
– Prefer shorter terms – The 6 week installment schedule fits well for budgeting an event that is soon.
– Value simplicity – Afterpay integrates into existing checkout process and has an easy to use app.
– Have limited credit – Afterpay approves those who may not qualify for credit cards or loans.
– Make frequent purchases – Frequent Afterpay users may already have an account set up making it very convenient.
**A credit card may be better for buyers who:**
– Can pay in full – If you can afford to pay the balance off monthly, a credit card avoids extra fees.
– Have longer timeframes – 12-24 month credit card financing allows smaller installment amounts.
– Want purchase protection – Credit cards offer protections if tickets are unusable. Afterpay offers no purchase protection.
– Value flexibility – Credit cards allow paying off balance early or skipping payments with no penalty.
– Have strong credit – Those with excellent credit can qualify for the best 0% financing promotions from credit card companies.
Afterpay for Ticketmaster Purchases – The Verdict
While Afterpay would provide more flexible payment options, Ticketmaster still does not directly integrate with Afterpay as of October 2022. Some alternate installment financing options do exist through Ticketmaster and major credit card companies.
For now, the workaround would be purchasing Ticketmaster gift cards using Afterpay for use on the Ticketmaster website. Until native Afterpay integration is launched, buyers should consider both the pros and cons of using installment financing at all for expensive ticket purchases.
Carefully evaluate your budget and cash flow needs to determine if a payment plan is the right approach versus saving up to pay for tickets upfront. But the future possibilities look promising for Afterpay to expand as a mainstream payment method across more types of purchases, including potentially tickets directly on Ticketmaster down the road.