What is a recurring payment?
A recurring payment is an automatic payment to your gym or studio that continuously repeats over a duration set by you, for example monthly, bimonthly, quarterly. The first payment is authorised by the member via a debit card pr credit card and the payment is repeated thereon.
When should I use recurring payments?
Recurring payments are great for automatically collecting membership fees for loyal members who repeatedly purchase your memberships or class packages. When you enable recurring payments for a member, the member is then described as having a ‘Subscription’ with your gym or studio.
You can pause or cancel a member’s subscription at any time:
Pause: Subscriptions are often paused to prevent payments from occurring for a certain time period, for example if the member has informed you that they are going on holidays for 2 weeks and wish to pause their subscription as they will not be using your facility during this time.
Cancel: When a subscription is cancelled, the member reverts back to manual payments for memberships that require authorisation after expiration.
Why should I use recurring payments?
Recurring automated payments offer numerous benefits for your business and the member alike:
Benefits to your gym or studio:
- By simplifying payments for loyal members, you're making it easier to get paid.
- Automatic payments stabilize your cashflow as you are getting paid on time.
- You can put an end to chasing up members and cash collecting, saving you time in your busy day.
Benefits for your members:
- By making payments simple, you're helping your members to make their fitness regimen more convenient.
- Members don’t have to worry about due membership fees or re entering card details again and again, ultimately helping to make their experience with your business stress free.
How do I setup a recurring payment?
You can find a step by step guide to setting up recurring payments here.