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Payments
Joe Moulton avatar
Written by Joe Moulton
Updated over a week ago

Payment Terms

Your payment terms are determined by various factors, such as the amount of time you’ve been selling through Lysted, transaction volume, and order fault rate.

Sellers with a proven history of successful transactions are given favorable payment terms. Lysted has a two different payment structures that we provide to sellers - “Pay After Event” and “Pay on Delivery”.

Your current payment terms are listed on the Settings and Remittances pages.

Pay After Event

By default, new sellers on Lysted are paid 10 days after the date of the event. Paying after event allows Lysted to ensure that the tickets delivered to buyers are valid.

Marketplaces and buyers often report issues many days after events take place. The 10 day grace period allows our team to properly investigate any claims set forth by buyers. These claims include things such as invalid tickets, missing listing disclosures, and improperly labelled sections or rows.

Pay On Delivery

Sellers with a longstanding history of successful transactions are awarded with preferred payment terms.

Those who have received 6 or more payments within the last 12 months, which total at least $50,000 are eligible for “Pay on Delivery”.

Pay on delivery allows sellers to get paid just a few weeks after tickets are delivered to buyers, regardless of the event date. Once tickets are delivered and the order is marked "complete," payments typically take about two weeks to process. Sometimes it can be faster, and other times slightly longer, depending on various conditions. Sales completed via account surrender, select international events, and perceived high risk events may require adjusted payment terms.

Payment Statuses

You’re able to track the payment status within the sales tab on each sale, under the event name on the sales report.

The white box “Pending” indicates we have not received payment from the exchanges yet.

The yellow box “Processing” indicates we have received payment from the selling marketplace, and the sale will be paid upon the next remittance cycle.

The blue box “Pending Event Date” indicates the sale is not eligible for payment until 10 days after the day of the event.

The green box “Paid” indicates payment has been sent to you.

The quick filter on the sales tab will allow you to filter by each of these payment statuses so you keep an accurate accounts receivable log.

Remittances

Each Monday a detailed remittance of your weekly payment is uploaded into your “Remittances” tab in Lysted. Remittances are excel spreadsheets that contain records of each of your sales that are included on weekly payments. You'll be able to see exactly how much you were paid, and which sales make up that total payment amount.

If a remittance is not uploaded by Tuesday morning, then you did not have any sales that were eligible for payment on that remittance cycle.

Important Payment Days

Monday

Every Monday, remittances are uploaded into your account. This should take place before 10 AM PT.

Later that same day, you'll receive an email titled "Your Payment from Lysted" from our secure payment provider Hyperwallet. This is how you'll know the payment was sent.

Tuesday

Funds that were detailed on Monday's remittance will be deposited into your bank account each Tuesday. The only exception, is if there is a banking holiday on a Monday. If there is a holiday and the banks are closed on Monday, payments will hit your account on Wednesday.

Claim Your Payment Instructions

Lysted uses a system called Hyperwallet to manage the flow of funds. Hyperwallet is owned by PayPal and is known to be the most secure and reliable third party payment vendor. ACH payments will be issued each Monday and the funds should be received on Tuesday - Wednesday.

We currently support payments to bank accounts in the countries and currencies listed below. If you don’t have a bank account located in the below list of approved countries, you can easily obtain a USA bank account on www.wise.com.

Approved Countries

  • United States (USD)

  • Canada (USD & CAD)

  • United Kingdom (GBP & EUR)

  • Mexico (MXN)

  • Aland Islands (EUR)

  • American Samoa (USD)

  • Andorra (EUR)

  • Argentina (ARS)

  • Australia (AUD)

  • Austria (EUR)

  • Bangladesh (BDT)

  • Belgium (EUR)

  • Bulgaria (EUR)

  • Christmas Island (AUD)

  • Cocos (Keeling) Islands (AUD)

  • Colombia (COP)

  • Croatia (EUR)

  • Cyprus (EUR)

  • Czechia (EUR)

  • Denmark (DKK)

  • Dominican Republic (DOP)

  • Estonia (EUR)

  • Faroe Islands (DKK)

  • Finland (EUR)

  • France (EUR)

  • Germany (EUR)

  • Gibraltar (EUR & GBP)

  • Greece (EUR)

  • Greenland (DKK)

  • Guam (USD)

  • Guernsey (EUR & GBP)

  • Hong Kong SAR China (HKD)

  • Hungary (EUR)

  • Iceland (EUR)

  • India (INR)

  • Indonesia (IDR)

  • Ireland (EUR)

  • Isle of Man (EUR & GBP)

  • Israel (ILS)

  • Italy (EUR)

  • Jamaica (JMD)

  • Japan (JPY)

  • Jersey (EUR & GBP)

  • Latvia (EUR)

  • Liechtenstein (CHF & EUR)

  • Lithuania (EUR)

  • Luxembourg (EUR)

  • Malaysia (MYR)

  • Malta (EUR)

  • Micronesia (USD)

  • Monaco (EUR)

  • Morocco (MAD)

  • Nepal (NPR)

  • Netherlands (EUR)

  • New Zealand (NZD)

  • Norfolk Island (AUD)

  • Northern Mariana Islands (USD)

  • Norway (EUR & NOK)

  • Pakistan (PKR)

  • Peru (PEN)

  • Philippines (PHP & USD)

  • Poland (EUR)

  • Portugal (EUR)

  • Puerto Rico (USD)

  • Romania (EUR)

  • San Marino (EUR)

  • Singapore (SGD)

  • Slovakia

  • Slovenia (EUR)

  • Spain (EUR)

  • Sri Lanka (LKR)

  • St. Barthelemy (EUR)

  • St. Martin (EUR)

  • St. Pierre & Miquelon (EUR)

  • Sweden (SEK & EUR)

  • Switzerland (CHF & EUR)

  • Tunisia (TND)

  • U.S. Virgin Islands (USD)

  • United Arab Emirates (AED)

  • Vatican City (USD)

Upon your first payment, you will receive an email titled "Your payment from Lysted" from sender "[email protected]". You will not receive this email until your first payment is sent.

Click the "Activate" button to proceed in setting up your Hyperwallet account. Select "verify my account using my Pay Portal ID".

To find your Pay Portal ID navigate to Lysted and go to your settings tab. Your Pay Portal ID is the unique code pictured below. Enter that code into the verification field on Hyperwallet.

The next step will ask if you are operating as an individual or business. Please select the proper field, and fill out the requested personal or business information here. Once this information is filled out hit continue.

HIT BUSINESS IF YOU ARE USING AN EIN - EVEN IF YOU ARE A SINGLE MEMBER LLC YOU SHOULD SELECT THE BUSINESS OPTION IF YOU ARE USING A EIN AS YOUR TAX ID NUMBER

Hyperwallet will then ask for you to create a password, set security questions and agree to legal agreements. There is a disclosure here that fees may apply, please be aware you will not be paying any fees for this service. Our company covers all of the fees associated with Hyperwallet

Once you complete this step, your Hyperwallet account is officially created. You'll now be asked to fill out your taxpayer information. This is required for us to be able to issue a 1099 at the end of the year, as required by law. Select if you are a US citizen or a foreign person and follow the prompts.

On this step it is absolutely crucial that you use accurate information. What you enter here must match the information on your tax return, otherwise it may be rejected during Hyperwallet's verification process. If you are a business your business name and EIN must match your tax return exactly. If you are an individual your name and SSN must match your tax return exactly.

As long as you enter the proper information, Hyperwallet will tell you the tax information has been properly verified.

You'll then be taken to the Account Summary page. At this page you will need to enter your bank account information where you'd like to receive your funds. Hit the add transfer method button and enter your bank account information

Once the payment information has been entered, your Hyperwallet account is officially activated. At the top of the page you can navigate the Hyperwallet site.

The History tab will allow you to view your transaction history.

When a payment is sent, you will also receive an email to track your payment. If you click the track your payment button you can see a real time payment status update.

Update Banking Information

The Transfer tab within Hyperwallet will allow you to view and edit or update your bank account information. Click on "action" and then "update".

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