Sport, parks and leisure - GoCardless Ltd: Open banking set to bolster gym member payments
24 Jun 2019 Sport, parks, & leisure: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Product news

25 Jul 2018

Open banking set to bolster gym member payments

Supplier: GoCardless Ltd
More GoCardless Ltd details


Open banking set to bolster gym member payments

Open Banking has the power to reduce lost revenue and improve conversion for gyms: by making member payments smarter and more reliable
Open Banking is here, and the competition and market authorities say it will drive competition and innovation in retail banking. But what does this have to do with gyms and fitness businesses?

More than you might think. Open Banking has the power to reduce lost revenue and improve conversion for gyms: by making member payments smarter, more reliable, more flexible and more instantaneous.

82 per cent of UK gym membership fees were processed by Direct Debit in 2017 (UK Finance). Gyms choose Direct Debit because it’s automated, rarely fails and doesn’t cost a lot. But even Direct Debit has its drawbacks – it’s not instant, which isn’t ideal for taking those very first payments or for spontaneous add-ons; it carries a small fraud risk and, while payments fail much less often than with cards, they may still fail.

Open Banking is set to make bank to bank payments even more attractive for UK gyms. Regulated payment providers will be able to access members’ bank account information (with their permission), meaning payments are less likely to fail (e.g. triggered when money is in the account), which could save gym businesses thousands of pounds each month.

Open Banking also allows for more secure payments (e.g. authenticated through members’ online banking), and faster payments. Regulated providers will be able to trigger instant ‘push’ payments from members’ bank accounts using the ‘Payment Initiation Service’, giving businesses all the benefits of Direct Debit, without the three day wait.

This all adds up to a powerful payment solution for gyms in the not too distant future. With the right provider, gyms will be able to take instant payments when they need to, and still benefit from automated Direct Debit for monthly fees (with no need to ask permission every time).

Find out more about how GoCardless could help your fitness business


Supplier: GoCardless Ltd

Online payments used to be expensive and time-consuming. GoCardless is changing that. GoCardless is a next generation payments company. We make it incredibly cheap and easy for anyone to take payments online using the Direct Debit infrastructure. Our industry-beating pricing, easy payment collection and instant online sign-up mean that we are rapidly becoming the preferred online direct debit option for businesses. We are a rapidly-growing, highly technical team based in London. Combining years of financial services experience with a customer-driven approach, we are transforming online payments and the direct debit industry.

Web: gocardless.com
More GoCardless Ltd details

Product news
RecoveRing combines functionality and education   12 Jun 2019

RecoveRing combines functionality and education

RecoveRing, a South-Korean company specialising in fitness education and products, has created a tool, also called RecoveRing, to help relax the muscles, improve balance and increase range of motion.

Jordan HIIT Bench combines unique programming with a storage solution   12 Jun 2019

Jordan HIIT Bench combines unique programming with a storage solution

Jordan Fitness, a UK-based supplier of fitness equipment, has launched its new HIIT Bench, a multi-use workout bench which serves as a functional workout training station, weight bench, plyo box and storage unit.

Wellbeats x Tollefson partnership will allow clubs to offer professional running training   11 Jun 2019

Wellbeats x Tollefson partnership will allow clubs to offer professional running training

Wellbeats, an app-based content and software-as-a -service company, has partnered with Olympic athlete Carrie Tollefson to develop a new fitness channel dedicated to running.

MotivatePT portal 'removes barriers to fitness' says CEO   11 Jun 2019

MotivatePT portal 'removes barriers to fitness' says CEO

Mobile personal training provider, MotivatePT, has launched a new client portal which aims to help users achieve their personal fitness goals.

Les Mills x Netpulse partnership gives users the freedom to work out whenever they want   11 Jun 2019

Les Mills x Netpulse partnership gives users the freedom to work out whenever they want

Les Mills International (LMI) has joined forces with health club mobile app provider Netpulse to offer a digital fitness solution covering both the gym and the home.

ShapeKAMS 'bridges the gap between static human biometric scanning and dynamic biomechanical assessment'   11 Jun 2019

ShapeKAMS 'bridges the gap between static human biometric scanning and dynamic biomechanical assessment'

Shapewatch, a 3D body visualisation firm, has teamed up with Kinetisense, manufacturer of the world's first markerless human motion assessment system, to create ShapeKAMS.

Myo Mirror enables clubs to provide 'smarter and more diverse' services   11 Jun 2019

Myo Mirror enables clubs to provide 'smarter and more diverse' services

M20 Ltd, an electric muscle stimulation (EMS) equipment manufacturer based in Seoul, South Korea, has launched the Myo Mirror.

Basi Systems launches new look Ladder Barrel to save instructors time   11 Jun 2019

Basi Systems launches new look Ladder Barrel to save instructors time

Basi Systems, a company specialising in pilates equipment, debuted a redesign of its Ladder Barrel apparatus at FIBO.

Company profile


Core Health & Fitness

Core markets its products under the iconic brands Star Trac®, StairMaster®, Nautilus® and Schwinn®.

View full profile>>

Catalogue gallery


Featured Supplier

Crown overhaul changing rooms at Saunton Sands spa

Crown overhaul changing rooms at Saunton Sands spa

Saunton Sands Hotel in Devon, UK, has completed a £2m expansion of its spa and wellness facilities. More>>




in this issue

• Government should 'invest in wellness'
• Budget chain Sweat! goes bust
• New tourist attraction for Inverness Castle



Latest jobs

Jobs Search



Personal Trainer
Salary: Fantastic Benefits
Location: Hounslow, UK
Company: The Gym Group
Personal Trainer / Fitness Trainer
Salary: 100% of your PT earnings
Location: Hounslow, UK
Company: The Gym Group
Diary dates
Powered by leisurediary.com

25-27 Jun 2019

BALPPA Summer Conference 2019

The Balmer Lawn Hotel and Carey’s Manor Hotel, New Forest, United Kingdom



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Restaurants: Sharing the love
Famous restaurants are popping up in unexpected places. We found out more More>>
  Tourism: Transforming Istria
In Istria, Croatia, tourism firm Maistra is changing the face of hospitality in the region, with a series of intriguing design-led hotels. As its most ambitious hotel project takes shape, Professor Terry Stevens finds out more More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  Thermal Spa: Taking the waters
Magali Robathan met the key people behind the Gainsborough Bath Spa More>>
  Disruption: Rule breakers
Leisure architecture that’s pushing boundaries and upturning expectations More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd