Openpay And Stack Sports Partner To Bring Buy-Now-Pay-Later To Sport Clubs
November 12, 2020
In a first for Australian sport and in response to growing customer demand, Australia’s largest sport club management system Stack Sports has partnered with Australian buy-now-pay later (BNPL) provider Openpay (ASX:OPY).
This partnership, set for an initial 3-year period, will give the members of all sport clubs using the Stack Sports platform the ability to pay for membership and registration fees in interest-free instalments.
Many sport clubs charge upfront yearly fees and therefore miss out on customers that would prefer to spread the cost over monthly payments. However, for most sport clubs the administrative burden of chasing monthly payments and the financial uncertainty that brings simply isn’t an option.
By using BNPL through the Stack Sports management system these clubs will be able to offer longer and more flexible payment terms without compromising their cashflow as the risk will be taken on by Openpay for the cost of a small merchant fee. This ensures clubs access revenue upfront to cover running costs and improve their services, while making paying for these services more accessible to a wider range of customers.
Dion Appel, Chief Commercial Officer at Openpay said; “Openpay’s growth strategy into sports membership has been further cemented with the proud signing of a fully integrated partnership with Stack Sports in Australia, New Zealand and the UK. Overwhelming feedback from sporting clubs tells us that members are seeking the ability to pay their fees over time. Equally, the benefit to the clubs is welcomed, including improved cashflow plus the removal of the administrative burden involved managing membership collections. A win-win for all that keeps clubs focused on doing what they do best.”
Andy Graham, General Manager APAC/EMEA at Stack Sports said; “Our new partnership with Openpay is an exciting step for our GameDay suite of products. GameDay delivers the most robust, open and flexible platform for any sport, and adding Openpay’s elegant ‘buy now pay smarter’ solution is another first.
We chose Openpay because they shared our philosophy of looking after the consumer while helping sports to prosper and grow, and like us, they understood that people have come to expect the most affordable, flexible and easy to use payment options. For our customers in Australia and the United Kingdom (and other countries coming soon) this means they can, if they wish, now choose the advantages of Openpay’s flexible payments for their GameDay memberships, subscriptions, event entry and sports merchandise. It’s just another way in which GameDay and our partners like Openpay are leading the way in the return to sport.”