HOW TO MAKE MONEY WITH MEETINGMAX

Did you know that Meetingmax clients’ have access to a payment gateway? This tool gives you the ability to collect revenue immediately. You no longer need to rely on post-event payment from your hotels to collect revenue. (Woohoo! Talk about financial freedom.) We strongly encourage all clients to take advantage of this opportunity to make your organization more financially secure. Read on for a Q&A on how to effectively use a payment gateway in your Meetingmax room block management software:

What is a payment gateway?

A payment gateway is a third-party between merchants and customers that securely takes the money from customers and sends it to the merchant’s’ bank account. It is a virtual equivalent of a physical point-of-sale terminal that is located in most retail outlets. In this case the customers are your event attendees and the merchant is your organization.

What merchant accounts does Meetingmax support?

Meetingmax has elected to use Stripe as our primary payment platform. From startups to the world’s largest companies, millions of companies in over 120 countries use Stripe to start, run, and scale their businesses. Meetingmax clients can connect directly with Stripe to obtain a merchant account and Meetingmax will install a payment gateway free of charge. If you are currently using a different merchant account, please contact us to discuss your options.

How can I collect revenue immediately with Meetingmax?

There are a variety of options available in Meetingmax to collect revenue including:

• Booking Fees: Charge a nominal non-refundable booking fee when guests complete a room transaction. In Meetingmax you can charge a service, per night, per room, or per reservation fee.
• Deposits: Charge guests a deposit at the time of booking to protect yourself from cancellations or no-shows. In Meetingmax you can charge full payment, one night room + tax deposits, or a specific dollar amount on a per night, per room, or per reservation basis.
• Reservation Penalties: Charge guests for late actions. In Meetingmax you can charge a fee for late booking, late date change reduction, and late cancellation fees. You can even select which sub-blocks to apply these towards, excluding certain blocks if required. An upside to penalties is that they help to encourage ideal guest behaviour such as early bookings.
• Tiered Cancellation Fees: Charge increasing cancellation penalties the closer guests cancel to the event start date. For example, if a guest cancels their hotel reservation six months prior to the event, then charge them a nominal cancellation fee as you have a high likelihood of reselling that room. However, if a guest cancels one week prior to an event, charge a much higher fee as you can’t resell that room. In Meetingmax you can easily set up tiered cancellation fees for various date ranges.

Does Meetingmax charge any fees to use a payment gateway?

Meetingmax gives you full control to manage all fees processed through your payment gateway. Competing room block management software providers don’t provide this flexibility, and instead manage all transactions through their own internal payment gateway and charge ongoing transaction fees. At Meetingmax, we want you to have full control and authority over your fees and revenue to better help you succeed in housing.