Motionsoft was recently selected as one of the 20 most promising payment and card services solution providers by CIOReview. Their interview with Al Noshirvani is provided below.
The overlap between gym software and payment management technology can make all the difference to club operators in maximizing revenues, minimizing expenses, and improving member retention rates for their recurring service businesses. At the forefront of tackling these challenges, Motionsoft offers the best-in-class single integrated payment solution for the health, fitness and wellness industry.
As a payment facilitator, Motionsoft operates in a unique fashion by allowing customers to process their transactions through an aggregated payment processing model that streamlines finance operations for recurring billing on credit cards and bank drafts and more importantly minimizes risks. “Our goal is to help reduce revenue leakage, reduce instances of fraud, enhance member experience, and increase opportunities for ancillary revenue in the health and fitness industry,” asserts Al Noshirvani, Chairman and CSO of Motionsoft.
Optimizing payment processing becomes imperative to address the significant pain points of non-integrated payment and billing systems that not only consume substantial time but also are also fraught with manual errors and fraudulent activities. Motionsoft’s state-of-the-art integrated payment service—an integrated gateway module plugged into their club management software platform—accelerates financial and operational efficiencies allowing for a seamless on-boarding process for members that significantly reduces the unforeseen risks associated with payment processing relationships. Additionally, Motionsoft eliminates the language barriers that club operators encounter while dealing with payment processors, brokering the communication between them and thwarting potential risks in the process. For instance, in case of reserve risks where club operators are required to cover their transaction processing volumes, Motionsoft performs that exercise on the client’s behalf and underwrites them, to mitigate the risk.
Motionsoft offers their proprietary gateway for transaction processing which provides them significant oversight over the cash flow process that results in faster draft processing. Having developed a PCI certified cloud-based gateway, Motionsoft maximizes the ability to access data that can be leveraged to aggregate more money on behalf of their customers. “We leverage deep analytics in transaction processes to help organizations reduce transaction delays which is a key concern for our customers,” says Noshirvani.
What differentiates Motionsoft in the payment landscape is their unique approach to offering tailor-made solutions for meeting their customers’ business objectives, wherein the firm conducts an extensive analysis of their clients current draft processing and contracts prior to on-boarding to meet their specific requirements. “Following our analysis, we provide our clients with an implementation blueprint that assures success,” states Noshirvani. Certified by Statements on Standards for Attestation Engagements (SSAE) and being compliant with Payment Card Industry Data Security Standard (PCI DSS), Motionsoft regulates a stringent and comprehensive internal control to stay ahead of the curve when it comes to security standard compliance.
With a dedicated risk and security group that perpetually monitors new security mandates, the firm ensures conforming to emerging standards like the EMV mandate that was recently introduced in the payment and card ecosystem. Noshirvani shared the story of one customer—a large enterprise with numerous multi-state locations—that was dealing with a fraud of approximately one million dollars a month in their personal training business. Implementing Motionsoft’s integrated payment system and security protocols, the customer was able to reduce instances of fraud by almost 95 percent, increasing their bottom-line by over $950,000 each month. Scripting similar success stories, Motionsoft aims to expand their geographical footprint in the European market in 2018. As the health and fitness industry coupled with payments gains traction, Motionsoft endeavours to cater to foreign investors. “We look forward to bringing new investors into our business and position ourselves for further growth in the coming year and beyond,” concludes Noshirvani.