Youth Sports has been a booming industry within the sports sector for more than two decades. As youth sports development, events and facilities grow, it means that more people are needed to keep it running smoothly. Now many clubs and facilities are seeking more efficient ways to keep their temporary staff (ie – game officials, concessions workers, etc) paid in a timely and secure manner.
Fancards was founded in 2015 as a prepaid financial tech company specializing in collegiately licensed gift and reloadable cards for fans. However, the newly founded P7 Sports Academy and storied elite club volleyball program, Memphis Juniors, sought out Fancards to provide a simple and convenient way to pay 1099 staffers and track those payments.
Youth Sports Case Study
Introduction:
Introduction:
Youth Sports has been a booming industry within the sports sector for more than two decades. As youth sports development, events and facilities grow, it means that more people are needed to keep it running smoothly. Now many clubs and facilities are seeking more efficient ways to keep their temporary staff (ie – game officials, concessions workers, etc) paid in a timely and secure manner.
Fancards was founded in 2015 as a prepaid financial tech company specializing in collegiately licensed gift and reloadable cards for fans. However, the newly founded P7 Sports Academy and storied elite club volleyball program, Memphis Juniors, sought out Fancards to provide a simple and convenient way to pay 1099 staffers and track those payments.
Challenge:
P7 had been recently founded but already had a substantial number of sporting events booked for its venue, with a growing number of concessions stand workers, game officials and other temporary staff needed to run those events.
Memphis Juniors, who bases their training at P7, is growing and needed an easy and secure way to pay coaches when they travel for competitions.
Solution:
Fancards quickly produced a custom-branded reloadable Mastercard for both P7 and Memphis Juniors, and they gained the ability to bulk pay their staff, saving time and lowering transaction costs.
Fancards took all of P7 and Juniors requests for additions to the Benjamin platform, and built in a plethora of upgrades to manage their payments.
Payees received their cards which gave them the ability to link a bank account, send funds to family or other loved ones 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 P7 and Memphis were able to be paid instantly at the end of their days’ work, increasing worker satisfaction and retention for future events.
By removing outdated means of payment, the security of payments have gone up, and pay disputes between the organizations and staffers have been dramatically reduced.
Payees have indicated higher rates of satisfaction with the work opportunities.
P7 and Memphis Juniors have saved an innumerable amount of time with the easy onboarding process to set up new payees.
