There are multiple payment platforms to choose from and it can sometimes be tough to work out which is best for your needs. If you hire out any form of facilities, this guide will help you establish the best payment option(s) for you.
GoCardless: allows your customers to easily make payments simply by using the Direct Debit Guarantee. Gocardless take 1% of the transaction value capped at a maximum of £4 and minimum of 20p per transaction. An additional fee of 0.1% applies to transaction values above £2,000. Authorisation takes between 3-4 working days and funds will be transferred to your bank account after approx. 7 working days. GoCardless allows payments to be made online from accounts which require multiple signatories making it perfect for regular payments for facility bookings where clubs require double-authorisation.
Stripe: allows your customers to easily make payments with their credit or debit cards. Stripe take 1.2% of the transaction value + 20p per transaction from a European debit/credit card without a maximum cap. Authorisation is instant and transfer to your bank account is configurable between 7 working days and monthly. Stripe offers simple, transparent pricing with no setup, monthly, or hidden fees. Because you can pay on credit card, Stripe is particularly useful for payments such as functions and private events, or for taking deposit payments.
Amazon Pay: allows your customers to make payments to a familiar name which can offer peace of mind. Whenever a purchase or payment is made, it automatically goes through Amazon’s checkout which makes the process convenient and trustworthy. Amazon Pay take a processing fee + an authorisation fee of 3.4% + 20p (under £1,500 a month) down to 1.4% + 20p (over £55,000 a month)
Worldpay: allows your customers to make payments with their credit or debit card. Worldpay offers both pay as you go and pay monthly services. Pay as you go take 2.75% + 20p per transaction and pay monthly take a fixed payment of £19.95 plus 2.75% (credit cards) & 0.75% (debit cards). Worldplay benefits from flexible plans, accepts all major credit and debit cards as well as PayPal in up to 116 currencies and also allows the set up of recurring payments and subscription-based payment plans for your customers.
PayPal: is another major payment gateway. Transaction fees start from 1.9% + 20p per transaction (sales volume of up to £55,000 per month) up to 3.4% + 20p per transaction (sales volume under £1,500 per month). Note they also offer bespoke pricing options for even larger businesses. Paypal also benefits from mobile optimised checkout – allowing your customers to pay on-the-go,built-in fraud protection and accept international payments.
Which payment gateway is best for me?
There are numerous payment gateways to choose from but it is always essential to find the best one that will make payments cheap, easy and safe for your clients. Consider these when researching;
BookingsPlus supports two fully integrated online payment options; Stripe and GoCardless. Both options allow hirers to pay invoices by debit/credit card directly into your bank account from their own online portal.
We hope our guide has helped you think about which payment system will work for your facility. If you have any further questions or are interested in finding out more, contact us on 01604 677 764 or email email@example.com.