Major League Baseball has the longest season in professional sports, and arguably the most complex needs for roster management. Each franchise keeps between 250-300 players, coaches and staff on the payroll between multiple teams, with players being shuffled throughout the year. When it comes to per diem payments, having an easy, secure payment management software is crucial.
Fancards was founded in 2015 as a prepaid financial tech company specializing in collegiately licensed gift and reloadable cards for fans. However, a top Major League Baseball club sought out Fancards for a new payment solution in 2023 as the company was launching its new Benjamin platform.
MLB Organization Case Study
Introduction:
Introduction:
Major League Baseball has the longest season in professional sports, and arguably the most complex needs for roster management. Each franchise keeps between 250-300 players, coaches and staff on the payroll between multiple teams, with players being shuffled throughout the year. When it comes to per diem payments, having an easy, secure payment management software is crucial.
Fancards was founded in 2015 as a prepaid financial tech company specializing in collegiately licensed gift and reloadable cards for fans. However, a top Major League Baseball club sought out Fancards for a new payment solution in 2023 as the company was launching its new Benjamin platform.
Challenge:
The MLB club had more than 300 players and staff who were owed per diem payments between the United States and Dominican Republic.
The rosters fluctuate frequently and per diems rates change depending on which level of competition a player is assigned.
The organization’s previous provider did not support paying in bulk, so distributing the per diem funds had been incredibly time consuming.
Solution:
Fancards leaped into action to produce a custom-branded reloadable Mastercard for the MLB Organizations, and they gained the ability to bulk pay their per diems.
Fancards took all of the Organization’s requests for additions to the Benjamin platform, and built in a plethora of upgrades to manage their payments.
Payees received their cards which can be used everywhere Mastercard is accepted, and tap into the full suite of Mastercard security and ID theft prevention features.
Fancards also fully tailored the reporting mechanisms of Benjamin to satisfy each of their requirements for accounting purposes.
Results and Impact:
Payees from the Organization received their funds nearly instantly and are able to pay for their needs on the road, including internationally.
With the ability to bulk pay and quickly onboard and reassign payees to new teams in the system, the Organization saved an incalculable amount of time compared to their previous service provider.
The Organization also reduced costs by not relying on a typical payroll system to distribute per diem payments.
