Don't Risk It All: Avoid Being the Merchant of Record
Protect Your Event from Hidden Liabilities and Focus on Success with Dines
Steer Clear of Excessive Liability
It goes without saying that you strive for control over your event's funds and data. It's tempting to centralise everything by setting up all traders and concessions under your own POS account. It feels like the simplest way to keep an eye on every transaction. But beneath the surface lurks serious risks that could jeopardise your entire event.
What if there was a way to maintain full control without exposing yourself to unnecessary liability?
The Hidden Risks You Face
When you act as the primary account for all your traders, you inadvertently shoulder a mountain of liabilities;
Legal Liability for Claims
Financial Responsibility for Refunds
Fraud and Money Laundering Risks
Other Complications
If a customer suffers an allergic reaction or any harm from a trader's product, you're legally on the hook because the transaction is under your name.
Post-event disputes can leave you responsible for refunds, even if the trader has already left and can't be held accountable.
Any fraudulent activities or money laundering by traders become your legal responsibility, exposing you to severe consequences.
Centralised payments can inflate your VAT liabilities, leading to unexpected tax burdens, while also increasing disputes and chargebacks, causing delays in settlements that muddy your financial clarity and eat into your profits.
The Costly Illusion of Control
While centralising traders under your POS account seems like it offers control, it actually opens the door to risks that can cost you dearly. The potential legal and financial repercussions far outweigh the perceived benefits. Your focus should be on delivering your event, not managing unnecessary liabilities.
Dines Offers a Better Way
We understand your need for control over funds and access to data. That's why Dines provides a solution where each trader is their own merchant of record, complete with individual KYC (Know Your Customer) verification through our partnership with Stripe.
Maintain Control Without the Risk: You still have oversight and control over transactions, revenue splits, and even the ability to pause payouts if necessary - all without exposing yourself to trader-specific liabilities.
Simplified Settlements: Automated reporting and individual trader accounts streamline financial reconciliation, making settlements quicker and more transparent.
Operational Efficiency: Reduce the burden on your operations team by eliminating the complexities of managing multiple traders under a single account.
Comprehensive Data Access: Gain full access to event data, including products sold and transaction details, empowering you to make informed decisions.
Empower Traders While Protecting Yourself
By allowing traders to be their own merchants of record, you empower them to manage their responsibilities while safeguarding your event.
Traders Handle Their Own Compliance: Liability for product issues, VAT, and refunds rests with the individual traders, where it belongs.
Reduced Risk of Fraud: Individual KYC checks through Stripe minimise the risk of fraudulent activities affecting your event.
Improved Guest Experience: With traders focused on their operations, guests enjoy smoother transactions and better service.
Don't Take The Risk
The stakes are too high to ignore the dangers of being the merchant of record. Legal troubles, financial losses, and reputational damage can derail all your hard work. It's time to protect your event and yourself.
Secure Your Event's Success with Dines
Dines provides the perfect balance of control and protection. You get the oversight you need without the liabilities you don't. Focus on what you do best - running excellent events - while we handle the complexities of payments and compliance.