All return payments are processed 1 business day after the event has taken place via PayPal.
We completely understand that you’d like for your payout to be sooner. With the amount of uncertainty about the future, we don’t blame you. First, it’s important to understand that Lyte is not a refund service. We are a fan to fan ticket exchange. We buy tickets from fans who can no longer attend, and then sell those tickets to fans wanting to go. All transactions are fairly priced and tickets are 100% guaranteed. In order to do this effectively, we have to ensure that scalpers, fraudsters, ticket brokers, and other bad actors aren’t incentivized to use our platform. By paying out customers one business day after the event, we remove the option for those bad actors to speculate on tickets and ensure that we are only conducting business with actual fans. This is a key reason that pricing is fair for both buyers and sellers.
Lyte’s model is to buy tickets at a fair price from fans who can no longer attend an event, and then, sell those tickets at a fair price to fans who would like to go. By offering immediate payouts, it encourages bad actors, ticket brokers, and fraudsters to buy tickets at a low price and resell them for a much higher price. Lyte removes that option by sending payments one business day after the event and ensures that we are only conducting business with actual fans. This keeps pricing fair for both buyers and sellers.