EzyPay is a core foundation of Anytime Fitness and the future of fitness financing.
If we look at payment providers between Stripe and EzyPay, we see that
- Stripe prioritizes efficiency and low dishonor fees ($2.50)
- Ezypay provides low-tech and obscure payment rails for 4.6x that cost ($16-35).
From an investor's and also a franchise owner's perspective, we can see that Stripe is an extremely ineffective company (openly and allows merchants to switch providers easily) that can only charge 0.156x of what its direct competitor charges.
Ezypay is "baked in" as the primary payments layer for major gym management software platforms (gym members are delivered to Ezypay without individual consent or the ability to opt out).
Thus, Ezypay is able to exploit their stranglehold over gym customers in the fitness industry to basically turn recursive dishonor fees over the same transaction (of over 17-20% per bounce- meaning dishonor fees can easily account for more than half of a gym member's monthly subscription!) into a consistent revenue stream.
Discuss or suggest how Ezypay can continue to build their dishonor payments to accumulate more payments from AnytimeFitness goers. We'd love to hear your thoughts!