FiXi Updates: The Switch to Stripe
As of the 20th of January, users will notice some big and exciting changes to the FiXi sport management system. These are designed to enhance and streamline the user experience, while lifting much of the administrative weight off the shoulders of those who currently carry it.
One of the most important of these changes is in the FiXi payment system. A switch has been made to Stripe, a user-friendly payment platform that will offer users a far smoother and more easily managed payment experience.
What is Stripe?
Stripe is a platform designed to make payments as smooth and simple as possible. It enables FiXi users to accept credit card payments direct from players, and transfers the money daily to the bank account of your choice.
We’ve worked to fully integrate the platform into FiXi, so a user will be asked to do nothing more than enter a handful of details and grant Stripe the appropriate authorisations. This is a two minute process at most, and is all you’ll need to do to be ready to accept instant credit card payments from players.
Why are we changing?
“Stripe doesn’t sound hugely different to the current FiXi system,” you might say. But when you get into the simplicity and added functionality of the Stripe system, it most certainly is.
Users can expect to enjoy the following features thanks to FiXi’s switch to Stripe:
- Daily rather than monthly payments: Player payments are collated at the end of every day and sent direct to your nominated account. No more waiting until the end of the month to see who has paid and who hasn’t – you can now check outstanding balances and send out reminders on the fly.
- Manage all payments within the portal: Stripe is an all-in-one platform with the ability to manage your accounts in their entirety. You’ll no longer need to balance settlement reports after receiving a lump sum of monthly payments – it’s all right there, simple to manage, with records updated in real time.
- Issue refunds instantly: Has a player overpaid? Have you overcharged? With one click, you’ll be ready to issue the individual an instant refund. No more manual bank transfers or long-winded credit card chargebacks, and no more waiting on the phone for instruction from us!
- Reporting/e-commerce functionality: Are you looking to take a more formal approach to your centre or league operations? Once you sign up with Stripe, you gain access to a wealth of financial functionality, from serious reporting tools to e-commerce technologies.
- Choose how your players pay: Whether players pay individually or as a team, during the registration process or post-allocation, is entirely up to you.
Will I be paying more?
The short answer? No.
While the switch to Stripe has necessitated a rejig of our payment structures, the answer is that you can expect to pay the same as you always have.
Previously FiXi has charged an administration fee of 4.9% on payments. We’ve now lowered our cut to 2.9%, while Stripe costs make up the remainder, bringing the total to a similar percentage as before.
Want to know more?
The switch to Stripe is active from the 20th of January, and will seriously improve the FiXi experience for most users.
If you want to know a little more about the nitty-gritty of how the switch will work, and what it might look like on your end email our friendly support desk support@fixionline.com!