Sports Organizations
Our virtual account and card program developed for Sports Organizations allows cardholders instant access to their funds from ATMs and stores where MasterCard is accepted. The program creates a user friendly environment, that gives the cardholders and administrators the ease and convenience of 24/7 access to their account in a secure, real-time environment. It removes the hassles, costs, and inconveniences that go along with having to write checks. Card pricing, features, functions, and terms and conditions are available anytime online for cardholders, along with how to use their new card and how to avoid fees.
Step 1
Official, athlete, or staff needs payment
Step 2
Organization loads value to virtual account
Step 3
Funds available immediately to cardholders
Step 4
Real-time reporting for card activity
The Problem
After a sporting event, an official would have to fill out a voucher with personal information, and return that voucher before payment would be initiated. Payment would then take between 1 to 4 weeks to get to the official. On the accounting side, this would take time in reviewing vouchers, checking for correct information, and dealing with fixing errors. Checks then had to be written and mailed. Issues of returned, lost, or incorrect checks then cost more time and money.
The Solution
Market researchers estimate the cost of issuing paper checks to be nearly $10 per check. Contrast that with the roughly $1 per transaction for electronic payments (ACH). Labor costs comprise the largest expense incurred from in-house payment operations. But there are also costs for materials like printers and envelope stuffing and sealing machines; postage; and supplies, including highly secure check stock, MICR toner, and envelopes. Businesses will also pay bank fees and incremental charges for fraud protection, such as positive pay, check reconciliation services, and retrieval of transaction history and check images.
Clark Evans – COO – Arbiter Sports
“Rapid has been willing to work with us on a number of creative options for our clients that otherwise would not be available to a company our size. We would not be able to provide the services we do without their help. Most of our clients have reported cost reduction associated with payroll of between 40% and 70%.”
Dan Martinez – PRCA
“We have eliminated costs in 2 main areas. First, we no longer need to handle and re-mail checks from the Rodeos to contestants. This has freed up staff time and eliminated repetitive mailing costs. Secondly, with the integration between Rapid and our systems, we have reduced our volume of credit card processing charges by having contestants use funds from within RodeoPay to pay their obligations.”
Stop Writing Checks!
Our card and account programs are a proven method in saving time and money.
Features
Cards Can be Loaded Right in Your Office
Able to Reverse Funds on Cards
24/7 Online Tracking of Cards
Online Monitoring of All Transactions
Eliminates Check Writing
Eliminates Trips to the Bank
Eliminates Lost or Stolen Cards
Unlimited Debit Card Loads
Benefits
Able to Track Spending on All Cards
24/7 Access to All Card Account Information
Protects Your Financial Information
Saves You Time and Money
Instant Access to Funds
Lost Cards Can be Easily Replaced
Able to Load or Reverse Funds 24/7
Eliminates Trips to Bank and Post Office
Save time and money by starting your program today!
Get Started Now!