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Health Club Management

Health Club Management

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Health Club Management

Health Club Management

Product innovation

Open banking set to bolster gym member payments

Open Banking will create a powerful payment solution for gyms in the not too distant future, where the traditional monthly fees collection with Direct Debit will be complemented with instant bank to bank payments.
– Ross Pert, payment specialist at GoCardless

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

Sign up for FREE ezines & magazines
Company Details
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.
Address
Sutton Yard, 65 Goswell Road, London, EC1V 7EN, United Kingdom
Telephone
+44 20 8338 9540
Open Banking is here, and the competition and market authorities say it will drive competition and innovation in retail banking.
THUMB28186_76372.jpg

Product innovation

What really drives customer retention in 2019? Is it proactive customer care? Frequency of attendance?
RecoveRing unites functionality and education, says Su-Mi Kim RecoveRing, a South-Korean company specialising in fitness
Jordan Fitness, a UK-based supplier of fitness equipment, has launched its new HIIT Bench, a
Wellbeats, an app-based content and software-as-a -service company, has partnered with Olympic athlete Carrie Tollefson
Mobile personal training provider, MotivatePT, has launched a new client portal which aims to help
Les Mills International (LMI) has joined forces with health club mobile app provider Netpulse to
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WE11, a luxury co-working studio for elite freelance wellness professionals, is a stunning facility with
Shapewatch, a 3D body visualisation firm, has teamed up with Kinetisense, manufacturer of the world's
M20 Ltd, an electric muscle stimulation (EMS) equipment manufacturer based in Seoul, South Korea, has
Basi Systems, a company specialising in pilates equipment, debuted a redesign of its Ladder Barrel
eGym, a Germany-based supplier of fitness kit and software solutions, has debuted a range of
Interactive digital fitness creator Funxtion has launched the Funxtion Experience Multi-Screen Solution. The system, which
Keepme, a new AI tool for healthclubs, is set to increase member retention for gyms
Hutchison Technologies
Hutchison Technologies
According to ACSM’s Health and Fitness Journal, wearables trumped the top spot for trends in
Tecnobody, an Italian fitness and rehab equipment supplier, has launched its Tecnosport range, including the
Theragun, a company specialising in products for percussive therapy, has announced that it will expand
Smart textile firm Kymira has launched the 'Ultimate Recovery Kit' in partnership with sports nutrition
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Featured supplier news
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Saunton Sands Hotel in Devon, UK, has completed a £2m expansion of its spa and wellness facilities.
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Opinion
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Member retention is a growing problem for long-established gym chains, who are battling the growing budget and boutique gym market.
Opinion: Are you trying to beat budget gyms at their own game?
Video Gallery
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Ecore transforms reclaimed materials into unique performance surfaces that make people’s lives better. Ecore has ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Professional services
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Audio visual
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Management software
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Architects/designers
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Skincare
Comfort Zone - Davines S.p.A: Skincare
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Property & Tenders
Diary dates
23-25 Jul 2019
Melbourne Convention and Exhibition Centre, Melbourne, Australia
Diary dates
05-06 Sep 2019
TagusPark, Oeiras, Portugal
Diary dates

Product innovation

Open banking set to bolster gym member payments

Open Banking will create a powerful payment solution for gyms in the not too distant future, where the traditional monthly fees collection with Direct Debit will be complemented with instant bank to bank payments.
– Ross Pert, payment specialist at GoCardless

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

Sign up for FREE ezines & magazines
Company Details
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.
Address
Sutton Yard, 65 Goswell Road, London, EC1V 7EN, United Kingdom
Telephone
+44 20 8338 9540
Open Banking is here, and the competition and market authorities say it will drive competition and innovation in retail banking.
THUMB28186_76372.jpg

Product innovation

What really drives customer retention in 2019? Is it proactive customer care? Frequency of attendance?
RecoveRing unites functionality and education, says Su-Mi Kim RecoveRing, a South-Korean company specialising in fitness
Jordan Fitness, a UK-based supplier of fitness equipment, has launched its new HIIT Bench, a
Wellbeats, an app-based content and software-as-a -service company, has partnered with Olympic athlete Carrie Tollefson
Mobile personal training provider, MotivatePT, has launched a new client portal which aims to help
Les Mills International (LMI) has joined forces with health club mobile app provider Netpulse to
Nautilus
Nautilus
WE11, a luxury co-working studio for elite freelance wellness professionals, is a stunning facility with
Shapewatch, a 3D body visualisation firm, has teamed up with Kinetisense, manufacturer of the world's
M20 Ltd, an electric muscle stimulation (EMS) equipment manufacturer based in Seoul, South Korea, has
Basi Systems, a company specialising in pilates equipment, debuted a redesign of its Ladder Barrel
eGym, a Germany-based supplier of fitness kit and software solutions, has debuted a range of
Interactive digital fitness creator Funxtion has launched the Funxtion Experience Multi-Screen Solution. The system, which
Keepme, a new AI tool for healthclubs, is set to increase member retention for gyms
Hutchison Technologies
Hutchison Technologies
According to ACSM’s Health and Fitness Journal, wearables trumped the top spot for trends in
Tecnobody, an Italian fitness and rehab equipment supplier, has launched its Tecnosport range, including the
Theragun, a company specialising in products for percussive therapy, has announced that it will expand
Smart textile firm Kymira has launched the 'Ultimate Recovery Kit' in partnership with sports nutrition
MoveGB
MoveGB
1 - 15 of 1,296
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Job search
POST YOUR JOB
Featured supplier news
Featured supplier: 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.
Featured supplier news
Featured supplier: Solent University’s brand new Sports Centre receives high performance flooring and functional rig solutions from EXF
Leading bespoke fitness equipment manufacturer, EXF Fitness has recently completed an installation project at Solent University in Southampton.
Opinion
promotion
Member retention is a growing problem for long-established gym chains, who are battling the growing budget and boutique gym market.
Opinion: Are you trying to beat budget gyms at their own game?
Video Gallery
Nautilus - Glute Drive
Core Health & Fitness
Inspired by the increasing trend of glute exercises seen in various and dangerous executions in the gyms today. Read more
More videos:
Company profiles
Company profile: Crown Sports Lockers
Crown Sports Lockers has designed, crafted and fitted bespoke timber furniture for spas, hotels and ...
Company profiles
Company profile: Ecore
Ecore transforms reclaimed materials into unique performance surfaces that make people’s lives better. Ecore has ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Professional services
Deloitte UK: Professional services
Audio visual
Hutchison Technologies: Audio visual
Management software
GymSales: Management software
Architects/designers
Zynk Design Consultants: Architects/designers
Spa software
ResortSuite: Spa software
Locking solutions
Ojmar: Locking solutions
Fitness equipment
Shapewatch: Fitness equipment
Skincare
Comfort Zone - Davines S.p.A: Skincare
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Property & Tenders
Diary dates
23-25 Jul 2019
Melbourne Convention and Exhibition Centre, Melbourne, Australia
Diary dates
05-06 Sep 2019
TagusPark, Oeiras, Portugal
Diary dates
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