What to Look for When Selecting Gym Payment Processing Technology
Are you still mailing invoices to your gym members to collect dues? Are you struggling to collect payments? Manually collecting payments will only continue to waste time and money that many gym owners do not have. Implementing gym payment processing technology will allow you to free up time to manage other aspects of your gym.
Payment processing technology will help you save time, money and enable you to focus on what is really important– members and exceptional service. However, not all gym payment processing technology is created equal. Here are the important features to look for before purchasing a solution.
1) Automated Payments
How do you currently track your members’ payments? Are you logging data in a book or an excel spreadsheet? You don’t have to anymore! With a payment processing system in place you can automate your member’s monthly payments and track current and past payments through reports. Automating your members’ payments is a HUGE asset to collecting dues, but it is important to ensure you have safe, secure and PCI-compliant payment processing technology. Make sure the software is password protected and you can trust your technology provider with sensitive payment information.
2) Customizable Payment Options
Offering a more frequent and smaller payment option is a great way to make your members feel more comfortable with their payment amount and will help reduce delinquency. Try a weekly or bi-weekly option to members that tend to be delinquent on their monthly payments.
Look for technology that will allow you to create customizable payment plans that fits your gym members’ needs. Do you have a plan to handle delinquent accounts before it gets out of hand?
3) Member Portal
Giving your members access to their account information will make it easy for them to track their payments, renew memberships, schedule classes and much more. Members can change their membership if they feel they’re no longer able to afford the top level membership offered. By offering multiple membership options through a member portal, they can downgrade rather than simply cancel their account all together. This is also helpful as a gym owner in determining your membership pricing structure. Reports like the daily and monthly billing statement, account reconciliations and the daily delinquency can provide the information you need to determine a new pricing structure. Have you considered using this type of data when determining a pricing structure?
Benefits of a specialized health club payment processing solution include:
- Processing payments via credit cards, debit cards and EFT
- A POS system for retail sales such as smoothies, shakes, t-shirts, etc.
- Level 1 PCI Compliant – Security of member information
If you’re struggling with member payment and retention, a secure payment processing system combined with robust gym management software is the solution you need. You’ll ensure member payments, reduce delinquencies and make your members feel like part of a family when you choose ABC Financial as your payment processing provider. From our unparalleled client and member support to our complete software and payment processing services, ABC is the perfect solution to your gym needs.
Download the free eBook to learn methods to solving your health club member payment and retention challenges.