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We've seen it all. Business owners losing track of cash payments and not knowing if their customers paid them. Failed direct debits that get lost into the universe and lead to awkward conversations. And a common worst nightmare scenario, customers who say they have paid, attend class, only never to show again. No one to see this for their business and signing up with a payment processor can alleviate every major payment pain point you have ever experienced in running your gym or studio. To avoid these case scenarios, we integrate with some of the best payment providers to make all of your customer transactions quick and seamless.
The benefits of using a payment processor
We care about our customers and their finances which is why we partner with the best processors on the market to secure low rates and big rewards in the form of on-time payments and financial security for you and your business. Partnering with one of our recommended processors results in:
- Better rates for you and your customers
- More options and ways to offer memberships
- Simple, straightforward pricing models
- Automated payment collection on time
- Track and forecast expected income
- Safety and security for your customers and their payments
- Reduction of failed and missed payments
- Easier for customers to pay you for online and on-demand classes
- No longer needing to collect payment in cash
- Full integration within your TeamUp dashboard
and so much more. While we could go on and on about the benefits of signing up for one of our payment providers, the best way to encourage you to use one. We are breaking down the fees and details of the processors we supply at TeamUp and differences between direct debit vs. credit and debit cards.
Direct debit vs. credit and debit cards
Payments taken from your debit or credit card are commonly referred to as recurring or continuous card payments. Direct debit, however, is taken directly from your bank account. Both automatic payment methods secure that your customers' payments can be authorised and collected online. When your customers make a payment using their credit or debit card they will supply you with their 16 digit card number, which is linked to your bank account, but for direct debits, your customers will input their account number and routing numbers.
Both methods have different cost per payment structures and credit cards typically range a bit higher. They both have very high flexibility when it comes to payments and amounts, date of collection, edits and updates, as well as very high customer protection. With both methods, there is also a very low risk of lay payment and admin required to chase customers down for details. it is completely up to you and your business which method you prefer to choose.
So with that in mind, here are TeamUp's recommended payment processors and how to sign up:
GoCardless
GoCardless is a direct debit solution that's great for accepting recurring membership payments. It only costs a percentage per transaction (see pricing here), with no monthly or hidden fees. To sign up with GoCardless within your TeamUp account, all you have to do is fill out a brief form to create an account with GoCardless, and you'll be redirected back to TeamUp to complete the integration.
GoCardless is available for businesses in numerous countries. To see if GoCardless is available in your country and currency, check their global list, here.
To connect GoCardless to your TeamUp account, visit the GoCardless link in your TeamUp dashboard, here.
Stripe
Stripe is TeamUp's trusted payment partner for all credit and debit card transactions. We partner with Stripe because they emphasize security, reliability, and have no hidden fees. To sign up with Stripe within your TeamUp account all you have to do is fill out a brief form to create an account with Stripe, and you'll be redirected back to TeamUp to complete the integration.
Stripe is available for businesses worldwide. To see if Stripe is available in your country and currency, check their global list, here.
To connect Stripe to your TeamUp account, visit the GoCardless link in your TeamUp dashboard, here.
Offline payments
In addition to Stripe and GoCardless, you still can give your customers the option to pay in cash or other forms of offline payments (cheques or standalone card readers) if you or they prefer. To learn how to accept offline payments from your customers, you can check out our cash payment method settings here, or request additional offline processors by contacting our team at team@goteamup.com.
To learn more about pricing for your business, check out our guide to getting your pricing right as well as more details about our payment providers on our payments page.
Thanks for reading!
