When purchasing tickets on Ticketmaster’s Canadian website (Ticketmaster.ca), the currency used is the Canadian dollar (CAD). Ticketmaster operates different websites for different countries and regions, and the currency used on each site is based on the local currency.
Why does Ticketmaster CA use CAD?
There are a few key reasons why Ticketmaster uses CAD for ticket purchases on their Canadian website:
- Ticketmaster is based in the United States but has international sites for different countries. Ticketmaster.ca is the website for their Canadian operations.
- Canada’s official currency is the Canadian dollar. It is the legal tender used across Canada.
- Using the local currency on their country-specific sites allows Ticketmaster to easily set ticket prices based on the local economy and norms.
- Accepting CAD allows Canadian customers to purchase tickets in the currency they use daily, without needing to convert into other currencies.
- Pricing tickets in CAD makes business sense for Ticketmaster’s operations in Canada. It reduces foreign exchange charges and simplifies accounting and tax compliance.
So in summary, Ticketmaster uses CAD on Ticketmaster.ca because it is the official currency in Canada and allows them to seamlessly conduct business with Canadian customers.
What currencies are used on other Ticketmaster sites?
While Ticketmaster.ca uses the Canadian dollar, other Ticketmaster websites for different countries use the following currencies:
Ticketmaster Website | Currency Used |
---|---|
Ticketmaster.com (United States) | US Dollar (USD) |
Ticketmaster.co.uk (United Kingdom) | British Pound (GBP) |
Ticketmaster.com.au (Australia) | Australian Dollar (AUD) |
Ticketmaster.nl (Netherlands) | Euro (EUR) |
Ticketmaster.de (Germany) | Euro (EUR) |
As shown, each localized Ticketmaster website uses the official currency of the country it operates in. This allows customers to conveniently purchase tickets in their own currency.
Is it possible to pay in a different currency on Ticketmaster CA?
Ticketmaster only officially accepts Canadian dollars on their .ca website. There is no option to directly pay in a different currency like US dollars or Euros.
However, some payment methods like credit cards may allow you to indirectly pay in a foreign currency:
- International credit cards – If you have a credit card issued outside of Canada, it may allow you to pay in the card’s native currency. The conversion will be handled by the card issuer.
- Multi-currency cards – Some international cards have multi-currency capabilities allowing you to pay in CAD even if your balance is held in a different currency.
- Third-party payment services – Services like PayPal may allow you to pay in other currencies, which then get converted to CAD before sending payment to Ticketmaster.
But keep in mind that using these indirect methods often incurs foreign transaction fees. So it’s not the most cost effective. The best option is to pay directly in CAD to avoid conversion charges.
Why you shouldn’t pay in another currency
There are a few drawbacks to paying in a currency other than CAD on Ticketmaster Canada:
- Foreign transaction fees – You’ll typically pay an extra 2-3% on the currency conversion.
- Higher costs – The conversion rates can be higher through third-parties than your bank.
- Currency risk – You take on risk of fluctuations in exchange rates between purchasing and when the payment clears.
- More complex – It adds complexity compared to a straightforward CAD purchase.
So unless you don’t have access to CAD, it’s best to purchase tickets directly in Canadian dollars. It keeps things simple and is the most cost effective option in most cases.
How currency conversion works on Ticketmaster CA
If you do end up paying in a currency other than CAD, here is an overview of how the currency conversion process works:
- Ticket prices are listed in CAD on Ticketmaster.ca by default.
- If you pay with an international credit card or third-party payment in another currency, your bank/provider handles the initial conversion.
- The converted CAD amount is then authorized and sent to Ticketmaster.
- Ticketmaster charges your card in CAD and issues the tickets.
- Your bank or payment provider charges your account in the original currency at their exchange rate plus any fees.
Essentially, the currency conversion happens before Ticketmaster receives payment. This allows them to receive the funds in CAD while your bank or provider does the actual foreign exchange part.
How Ticketmaster sets their CAD ticket prices
Ticketmaster considers several factors when setting ticket prices in CAD on their Canadian site:
- The USD price – Ticket prices are often set by events first in USD. Ticketmaster converts these to CAD equivalents.
- Current exchange rates – They keep up to date with real-time exchange rates to set competitive CAD prices.
- Local demand – Prices may be adjusted at times based on demand from Canadian customers.
- Operating costs – Their costs to operate in Canada in CAD also impacts pricing.
- The venue – Some venue partners may have pricing input that influences CAD ticket prices.
- Taxes – Canadian sales taxes are included in ticket prices.
While prices are primarily based on the USD prices set by event organizers, Ticketmaster does have some flexibility to adjust CAD prices based on the Canadian market. Currency fluctuations can also result in adjustments.
How fluctuations in exchange rates affect prices
Exchange rate fluctuations between USD and CAD have a direct impact on ticket prices shown on Ticketmaster.ca.
Some examples:
- If the CAD strengthens vs the USD, the same USD ticket price results in lower CAD pricing on Ticketmaster.ca.
- When the CAD weakens, USD ticket prices convert to higher CAD prices for Canadian customers.
- A $100 USD ticket price converts to:
- $132 CAD when the exchange rate is 1 USD = 1.32 CAD
- $140 CAD when the exchange rate is 1 USD = 1.40 CAD
A stronger CAD brings lower CAD ticket prices on Ticketmaster for Canadians. But when the Canadian dollar weakens, the same USD tickets become more expensive in CAD.
Exchange rates fluctuate daily based on economic factors. But in general, the CAD being on par or stronger than the USD leads to better pricing.
Hedging currency risk for Ticketmaster
With fluctuations in USD/CAD exchange rates, Ticketmaster takes on some currency risk for their Canadian operations.
Some ways they can hedge this risk include:
- Forward contracts – Agreeing to lock in a set exchange rate in advance for future USD-CAD conversions.
- Currency options – Hedging against rate movements in either direction through put/call options.
- Natural hedging – Offsetting USD revenues with USD operating costs and liabilities.
- Currency swaps – Exchanging usage of USD and CAD with a counterparty.
Proactively hedging currency exposure reduces risk and volatility in costs and revenues from currency swings. It provides more predictability in financial planning and margins.
With Canada being a major market, Ticketmaster likely relies on some combination of financial hedges and natural hedging strategies to mitigate FX risk. This helps stabilize their operations amidst fluctuating exchange rates.
How tourists can buy tickets in CAD
For tourists visiting Canada, Ticketmaster.ca provides an easy way to purchase tickets in the local CAD currency.
Some tips for tourists to buy tickets in CAD:
- Use a credit card that doesn’t charge foreign transaction fees – The conversion fees can add up fast.
- See if your bank offers a tourist or travel rewards card – These often provide better rates and fees for foreign currency transactions.
- Consider getting a small amount of local Canadian cash to pay – This avoids any conversion altogether.
- Check if your hotel concierge offers ticket booking assistance – Some hotels can purchase tickets for guests in CAD.
Purchasing directly in CAD allows tourists to get the best value and avoid excessive conversion costs through banks or ATMs. It’s the simplest way to buy tickets as a visitor to Canada through Ticketmaster.
Summary
In summary:
- Ticketmaster uses CAD as the currency on Ticketmaster.ca for ticket sales in Canada.
- CAD is used since it is the official currency and allows seamless transactions for Canadian customers.
- Foreign currencies can technically be used through some payment methods but involve extra conversion fees.
- Fluctuations in currency exchange rates impact the CAD ticket prices shown on the website.
- Ticketmaster likely employs financial hedges to mitigate risks from currency volatility.
So when buying tickets through Ticketmaster’s Canadian site, paying directly in CAD is the best option for convenience, price savings, and simplicity.