Why is a Sports Payments System Important?
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Everyone knows that Aussies love their sport. In fact, almost 80% of Australians believe that sport is a significant part of Australian culture. But not only is sport one of the great loves of the Australian people, it’s also a major contributor to the Australian economy. In fact, an estimated 14 million Australians participate in some form of sport each year, generating a whopping $50 billion for the Australian economy per annum. But with the rise in the cost of living, many parents are struggling to keep their kids in club sports. So why is sport so expensive? And how can an elite sports payments system, like Biz Core, help?
What makes club sports so expensive?
Before we explore the benefits of a sports payment system, we first have to understand what makes sport so expensive in the first place.
Well, it depends. If someone is just kicking a soccer ball around the park with their friends and family, it’s a relatively cheap activity. But if they’re looking to join a club sport like netball, soccer, or rugby, then they may find the dollars quickly stacking up.
With club sports comes costs for things like:
- Registration fees
- Uniforms
- Sportswear like boots, knee pads, shin pads, and helmets
- Travel; the cost of getting from game to game
- Miscellaneous items like sunscreen, hats, water bottles, and anything else someone might need as a regular sports person
When looking at the above costs on their own, they can seem quite benign. But when adding them together, the cost soon becomes a little overwhelming, particularly if a parent has multiple children playing in club sports.
Why is sport so popular in Australia?
So what makes sport so popular in Australia? What keeps customers coming back to sporting clubs year after year despite the rising costs?
Enjoying the great outdoors
Australians love to enjoy the great outdoors and getting outside on a sunny day to play their favourite sport is a popular past-time.
Physical and mental health benefits
It’s a well established fact that physical activity, including sport, has extensive health benefits. People who engage in regular physical exercise will:
- Have more energy
- Reduce the risk of chronic disease such as obesity, diabetes, and cancer
- Improve and maintain areas of their everyday health like blood pressure and cholesterol
- Improve their mental health
It can even extend a person’s lifespan by up to 7 years!
Social benefits
Another major drawcard for club sports is the social aspect. People who play club sports meet new people and feel a sense of community and belonging.
How can a sports payment system help your club?
We know the benefits of playing sport, and we know why it’s so alluring to the Aussie public. But how can a sports payment system help your club retain members and keep your business growing?
Privacy
The digital age is well and truly upon us and these days most registrations are completed and managed only. But Australians are big on privacy, with 70% of Australians admitting that privacy is a major concern. They want a service provider they can trust. That’s why you need a reliable payment solution for sports, like Biz Core, that offers your customers the security and protection they crave.
Flexibility
Customers don’t just love flexible options, they need them. The world is moving at a fast pace and circumstances can change in a heartbeat. The right sports payment system should offer you the flexibility to keep up with your customers changing circumstances. Like Biz Core, it should offer a range of payment schedules such as weekly, fortnightly, or monthly. And it should have the capability to process credit card payments, debit card payments, and direct debit payments.
Simplicity
The last thing a customer wants to do is join a club if the registration process is a nightmare. Especially when customers join sports clubs for enjoyment and fun. So you need a system that is user friendly and intuitive, and that offers customers easy access.
Automated
The ability to set and forget is important. Customers don’t want to rely on their memories to make payments or keep track of registrations. They want to set, and forget. If their registration is due, or they need to make a payment, customers want clubs to be proactive and take charge. That’s why you need a system that has top of the range automation and customer tracking so you can help your customers stay up to date.
What Biz Core can do for you and your customers
Biz Core’s comprehensive system offers sports clubs the tools they need to keep customers happy and grow their business.
Our advanced payment platform provides:
- Extensive customer management tools that allow you to log, store and manage customer data.
- The ability to track registrations and set reminders for expiring registrations.
- Payment tracking facilities that will allow you to keep track of successful payments, failed payments and overdue accounts.
- Flexible payment schedules with weekly, fortnightly, or monthly options.
- Automation, allowing you to create and send receipts, reminders and notices automatically.
- Reporting capabilities; see how your business is tracking at a glance with easy-to-read dashboards.
- Simplified document management; you and your customers can upload, send, e-sign, and store documents with ease.
- The ability to record and monitor customer interactions.
- Strong built-in data protection and security with multilayered Microsoft Azure Cloud Security.
With Biz Core, you’ll have everything you need to grow your business and keep your customers coming back year after year.
Loan management software FAQs
What is the difference between direct debit and recurring payments?
Direct debit and recurring payments are both automated payment methods, but they differ in structure and control. Direct debit allows businesses to withdraw money directly from your bank account, often varying in amount based on the bill and can take a few business days to process. Whereas, recurring payments involve a set amount that you authorize to be charged at regular intervals, like a monthly subscription. These payments are usually easier to set up and process more quickly, as they’re often linked to credit or debit cards. Essentially, direct debit is a broader category, while recurring payments are a specific use case within that framework.
What kind of software do NBFCs use to manage lending processes?
What kind of software do NBFCs use to manage lending processes?
Non-bank financial companies (NBFCs) need a software solution that will assist them with every stage of the lending process. The right loan management software will assist with:
Loan origination
Loan servicing
Loan repayments
Customer management, including collateral management
And it should also offer:
A user-friendly CRM system
Seamless integration
Comprehensive reporting and analytic capabilities
Technical support
An intuitive system with an easy onboarding process
Secure cloud storage
Why use a loan servicing platform as a private lender?
Loan servicing software is about empowering private lenders to:
Save your business time, money, and effort all while providing a better lending experience for your customers.
Streamline the loan process by identifying and removing bottlenecks leading to faster loan turnaround times.
Manage your entire portfolio on a simple digital platform. You can access the system and data from anywhere and updates occur in real-time.
Eliminate slow and messy paper applications in favour of fast, accurate, and secure digital applications.
By choosing the right loan servicing platform, your business can be adaptive, successful, and long-lasting. Contact us today to find out how Biz Core can help your business excel.
Are recurring payments automatic payments?
Automatic payments can encompass various types of transactions, including recurring payments, one-time payments, and instalment payments. However, recurring payments specifically refer to transactions that occur on a recurring basis, typically with a fixed amount charged at regular intervals until the customer cancels or modifies the arrangement.
Why do recurring payments fail?
Recurring payments can fail for various reasons, including:
Insufficient funds
Expired or invalid payment information
Payment gateway issues
Bank or card issuer restrictions
Account holds or restrictions
Billing address mismatch
Payment authorisation issues
Subscription cancellations or changes
System or software errors
Communication failures
To mitigate recurring payment failures, businesses should ensure that they have a comprehensive payment processing system in place, like Biz Core.
Contact us today for a free live demo and for more information on how we can help your business streamline your payment processes.