How does waitlisting work?
Waitlist works by allowing attendees to register for an event, once a specific item has sold out. Once the item has sold out (if that item is set to allow waitlisting) a waitlist is started and the attendee can register for the sold out item but they are notified they will be placed on the waitlist.
All waitlisted attendees will be required to provide a credit card at the time of registration.
Once a spot opens up, you can allow any waitlisted attendees into the event and process payment. Here are instructions on how to admit a waitlisted attendee and collect payment.
Note: as an admin, you can charge the payment yourself while the registration status is waitlisted. As an admin, you don't have to change the registration status to new or confirmed in order to process the payment but the status does need to be changed if you want the attendee to process payment themselves.