4 Key benefits of collecting club member payments online
Collecting money from members is fundamental, but whilst collecting payments allows the club to run, there are plenty of other tasks competing for your attention too.
Collecting member payments online has a number of benefits, which we’ll look at here. When paired with an online membership payment system, like Payzip a lot of the work involved in collecting those payments manually can be reduced or eliminated entirely. Let’s get into it!
#1. You'll save time on admin
Your time is precious. Anything you can do to minimise admin work frees you up for other important club tasks.
So how can we reduce the paperwork?
Request and track payments online
Having an online solution lets you have a light-touch admin operation where you can quickly request the money from your members and then check-in on payments periodically. Your system should allow you to see which payments have become overdue, so you can chase them up. More on that in a moment.
See how Payzip tracks overdue payments and puts them front-and-centre.
Minimise reconciliation
Taking online payments is one thing, matching-up those transactions in the bank account to individual member’s payments is another. This is where halfway solutions like PayPal fall down - your member has paid online, but now you have to find what this was for and update your records (assuming you can identify who it is from their PayPal details!). Make sure your payment platform allows you to easily understand what the money in the bank is for, to simplify your reconciliation.
Send receipts automatically
As our “5 Tips For Managing Club Payments Like A Hero” guide says, you should issue receipts for all payments received. This doesn't need to be a hassle though - just make sure your club payment system issues receipts for you for every payment recorded.
Lose interest in bank trips
There probably haven’t been many visits to the bank this past year, but using online payments frees up the preparation time (bagging coins and notes, form-filling), travel time to the bank, and their charges for paying in cash and cheques.
Be kind, remind
As well as tracking online, you can also quickly send members a prompt for payment, which can help eliminate late payments.
#2. You'll look professional
As a representative of the club, you'll want to demonstrate your ability and, of course, you’ll want to look professional. Choosing a payment solution involves social risk - how well that system performs reflects on you too.
Read more: How to be a good club treasurer
Collect more revenue - in fact, collect everything
By requesting and taking payments online, you can track the status of every payment and know that you’ve collected every penny - and easily identify anyone who has yet to pay, so nothing gets lost.
Demonstrate accountability
Full financial reporting means that all the money intended for the bank account reaches the bank account. This lets you get the job done with less stress.
Look modern, be flexible
Your members will expect and look to you to provide a modern solution. Good systems let members pay by card, great systems add mobile payments too, like Apple Pay and Google Pay.
Your payment solution can spare embarrassment by allowing members to pay by credit card as well as debit card. The slicker your solution is, the better your club looks by association.
Operate safely
The Covid-19 pandemic has accelerated many trends, and online payments is one of them. Make club member payments safer by reducing in-person contact for payments. Go cashless, for the sake of your club.
#3. You'll become more efficient
Let them pay, their way
Whether it’s after the 6am run or during the ad break of Bake Off, members who can pay online can pay you any day of the week, at any time.
The need for speed
Once you’ve sent out your payment requests, you’ll often see the first online payments arriving within just a few minutes. All handled without anyone else needing to be involved.
Payments you can bank on
With online payments, you have to do very little. Payments will automatically be deposited in the club’s bank account for you, ready for reconciling.
#4. You'll become resilient
Get your head into the cloud
By using a cloud-hosted solution, there’s nothing to install and nothing to update. You’re always using the latest version through the browser and your member data is backed-up for you.
Easily handover to someone else
Put the structure in-place now to make handover a breeze. Forget emailing spreadsheets or carrying folders around. By using a cloud club payment solution, your existing committee or management team can see what you see, making handover a matter of inviting the new person to the team.
Further reading
Collecting money for your club — which method is best?
How to be a good club treasurer
Apps and tools to manage your sports club better
(Photo by Nick Morrison on Unsplash)