According to Statista, credit and debit cards remain the most popular payment options among Americans. Four out of ten Americans consider credit cards the go-to payment method. 31% prefer to use their debit cards, 12% prefer paying with a digital wallet, and just 12% prefer cash.
The bottom line is that your booster club needs to accept credit cards if you want to accommodate the preferences of today’s consumers. However, adding credit card payment processing to your booster club workflows can feel more challenging than beating your alma mater’s rival in the regional championships. Never fear — this guide from BoosterHub will help you start accepting credit cards like a big-time retailer.
The Basics
Before diving into credit card processing, it’s essential to understand the basic requirements. You’ll need a merchant account, which is a type of bank account that allows your club to accept credit and debit card payments. You’ll also need a payment gateway, which is a service that authorizes and processes the transactions online.
Choosing the Right Payment Processor
Selecting a payment processor is one of the most crucial steps. Look for providers that offer competitive rates, transparent fees, and excellent customer service. You can go about this a few different ways.
One option is to partner with a mainstream payment processor. Alternatively, you can adopt booster club software with built-in payment processing solutions. The second option will simplify your payment processing workflows and ensure all your important club data is under one roof. You can track sales, run campaigns, manage merch, and more, all from one platform.
Setting Up Your System
Now, it’s time to set up your system. First, apply for a merchant account with your chosen payment processor. You’ll have to provide some information about your club, including financial data.
Next, decide how you’ll accept payments. Options include online payments through your website, mobile payments using a card reader at events, or both. Ensure your chosen processor supports your preferred methods.
Ensure your team members are familiar with the payment system. Choose a user-friendly option to minimize the learning curve and quickly get everyone up to speed. Proper training helps prevent errors and ensures smooth operation.
After your system is up and running, make sure to tell everyone. Notify parents, staff, students, and the community that your club is now accepting credit card payments so that they can ramp up support for your events.
What’s Next?
Adding credit card processing to the mix can be a game-changer for your booster club. Think of it as getting a top-ranked transfer or bringing in a championship coach to take over a struggling sports team.
However, offering credit card processing also adds new layers of complexity to running your booster club. You’ll have to keep up with things like sales tax, online transactions, and an increased demand for merchandise and food items. Fortunately, you aren’t one to shy away from a challenge. With the right approach, this move can lead to increased participation, improved cash flow, and ultimately, more support.
