The case for digital payments in sport
When did you last pay for something in cash? To buy a coffee or pay for parking? Perhaps it was for your weekly futsal or basketball game? With the rise of mobile payments and digital banking solutions, we're all moving to a cashless way of living. Paying for coffees and parking can be done via card, mobile payments and mobile apps. This should be the case across local sports.
Payment collection at many sports clubs and associations is still largely cash-based and manual. Significant volumes of cash are collected on a daily basis, presenting security risks and accounting inefficiencies.
Benefits of going cashless
- Provide better experience to teams and players. If you haven’t already had teams and players asking for alternative payment options, you will. Providing teams the flexibility to pay on their terms makes for happier teams.
- Reduce costs. You can reduce overheads and administration associated with collecting money in-person.
- Better visibility. It is frustratingly manual to chase up payments via cash and EFTPOS. By moving your payments online, you can know instantly when someone pays you.
- Greater security. The risk of something happening to cash is much higher than digital payments.
Making payments digital does not happen overnight. Offering teams options with how they can pay (for example; cash, EFTPOS and digitally via Teammo) is a good way to start transitioning your payments online.
How does Teammo benefit your club or association?
- The need for staff to collect money on game day across venues is reduced and eliminated in the long-term
- Reduced staff costs, funds made available could be invested in new roles to support the further development of your club or association
- Easier for teams to submit forfeits, by completing the process via the platform online
- No need to manually contact teams about forfeits. Forfeit communications are sent automatically via our platform within seconds
- No need to pursue teams for forfeit fines as these are collected upon submission of a forfeit online
- Payment reconciliation becomes quicker
- Improved experience for teams and players
- Increased flexibility for teams on their terms – week-to-week, multiple games or potentially all upfront
Where can you start?
1. Review your current payment processes. Here are a few things to consider:
- What does your payment method mix look like? What percentage of payments are coming via cash, EFTPOS, bank transfer and/or cheque?
- Do you have volunteers or staff checking and collecting payments each game night?
- Do you have more than one forfeit / walkover each week?
- Do you have outstanding forfeit / walkover fines?
2. Download and read through our information pack to understand more about what Teammo can do for your club or association.
3. Get in touch with us via email@example.com.
With Teammo, you can start automating your payment processes and make it easier for teams and players to make payments and submit forfeits. If you want to read more information, check out our Clubs & Associations page.