With further cancellations expected in the events industry due to the Coronavirus outbreak, cloud-based payment platform TicketCo is launching functionality on its website and mobile app to help event organisers’ manage cashflow.

Following the outbreak of COVID-19, TicketCo’s research and development team has devised new functionality to enable event organisers to offer customers a voucher instead of a refund. It has also created an option for ticket buyers to “forgo” a refund or a voucher and pledge the money to their favourite club or event to support them at this time.

The new functions are designed to support event organisers survive during the pandemic. Additionally, an automated process to facilitate mass cancellations has been created to help event organisers mange resource.

David Kenny, UK country manager at TicketCo, said: “We know COVID-19 is causing huge problems for a lot of organisers now. But we are also aware of ticket buyers who are concerned for organisers and want to help them. Our research and development team have worked tirelessly to produce new features that enables event goers to support organisers if they wish. We have communicated with all our clients and offered them reassurance and guidance and created a manual to guide them through our new tools.”

The functions offer customers the option to receive a voucher instead of a monetary refund should the event they plan to attend be cancelled because of Government restrictions on gatherings involving many people. The voucher can then be used to purchase tickets or goods from the same organiser later.

Kenny added: “In a major crisis like this, it is natural for all of us to care about our families, jobs and welfare first. Even so, I think most of us are also concerned about how our lives will be when the crisis is over, and our actions now and in the difficult times ahead may well decide this.

“A world without an event industry is an unbearable thought, and it’s in everyone’s interest that the event organisers make it through this crisis. One way to achieve this is to accept a voucher instead of a cash refund for a cancelled event. This way, every ticket buyer can make a small contribution and together these contributions hopefully will make a difference. We hope this will help organisers during this crisis and we will continue to do our best to devise further solutions that can have a positive impact.”