GigPay payment platform for live performances

A new payment processing service was recently introduced for the event industry by GigPay Ltd. the company’s aim is to process payments between live performers and event promoters through the combination of credit card processing, email billing and escrow.

GigPay service is intended for musicians, DJs, bands, comedians or even models. The system works as follows. A performer just requests a payment for a gig and then has it paid by credit / debit card, bank transfer or PayPal. Then GigPay clears the payment before the event and it shows up in the performer’s GigPay account. Yet the payment is not released till after the gig which protects interests of promoters as well.

The payments settlement has long been problematic for the live events industry. Moreover, the dropping record sales lead to increased popularity of live performance which was obviously overlooked by the technology revolution striving for monetization of the music industry.

GigPay’s service is being provided in six major currencies and also works across international borders.