What is Collins Pay and it's functionality
Collins Pay is the integrated payment system for Access Collins, allowing customers to make secure and convenient payments online or over the phone directly through the Collins booking system. It offers a fast, streamlined way for your business to process payments with ease.
With Collins Pay, you can encourage pre-orders, collect deposits, and secure guaranteed income before customers arrive at your venue.
The system supports:
Card authentication.
Manual payments.
Secure payment links. payments through pre-orders.
Payments at the time of booking.
When setting up Collins Pay, you can choose to use our Stripe account or connect your own if you already have one. Most partners opt to use our Stripe account for simplicity.
If you have any questions, please contact your account manager for assistance.
Card Authentication
Both options outlined below allow you to authenticate a customer’s card without taking a deposit or charging their account. This is a great way to reduce the risk of no-shows for smaller bookings.
The Collins authentication system verifies the card details and ensures the customer has sufficient funds at the time of authentication. Cards can remain authenticated for up to three months.
Key points to remember:
No funds are held on the customer’s card: Authentication does not block or hold money. If the customer cancels their card or doesn’t have sufficient funds when you try to claim payment, the transaction will fail.
No cost for authentication: You won’t be charged to authenticate a card. Transaction fees only apply if you claim money from an authenticated card.
Transaction fees and options
Transaction fees depend on the payment setup you have selected:
Option A: Your Stripe Account.
If you already have your own Stripe account, Collins Pay can connect directly to it.
All transactions and fees will be processed through your account.
Option B: Our Stripe Account.
By default, Collins Pay uses Access’s Stripe account.
All transaction fees are managed by our system, providing a simpler setup.
Option A: Connect using your own Stripe account
If you already have a Stripe online payment system set up, or can easily activate one, we can seamlessly link it to Access Collins for you. Payments will go directly into your Stripe account, and your current processes for reporting and reconciling will remain the same.
You’ll still have full access to Collins’ powerful features, including:
Card authentications
Manual payments
Requesting payments
Payments for pre-orders
Payments at the point of booking
Collins will automatically generate a receipt and send it to both the customer and yourself.
Costs
The cost for setup and seamless integration, along with access to all current and future Collins Pay features, is just 0.25% of each transaction. This fee is invoiced monthly. For example, if you take £8,000 in pre-orders, the total cost for using Collins Pay functionality for that amount would be just £20.
Setup Time:
From Collins’ side the setup is quick.
Creating a new Stripe account typically takes 7-14 working days.
Option B: Connect to our Stripe account
Collins Pay allows you to manage, transact, and handle all your payments seamlessly without needing your own online merchant account.
You’ll benefit from full back-end and customer functionality, along with three built-in payment reports to help your finance team reconcile online payments.
Payments operate on a three-day cycle, meaning funds are typically in your account by the third working day. Payments are transferred in full, and transaction fees are invoiced monthly. You’ll also benefit from using our negotiated transaction and credit card fees, rather than setting up and managing your own merchant account fees.
Since payments are processed through our trading company, we are legally responsible for the transaction, and our name will appear on the customer's statement.
Key Features to Note:
Chargebacks: If a chargeback occurs, we will recover the amount from you along with any associated dispute fees.
Refunds: You can issue refunds directly from Collins, and the refund is sent to the customer instantly. As the original payment would already have been transferred to your account, the refund amount will be deducted from your next transfer. If there aren’t sufficient funds within 30 days to cover the refund, we will issue an invoice. Refund invoices must be settled within two working days for the refund to be processed. We reserve the right to deactivate Collins Pay for unpaid refund invoices.
Setup is instant and ready to use as soon as you give your account manager the go-ahead.