MotorSport Vision sought to streamline their merchant card processing, integrate multiple revenue streams, and improve reporting efficiency.
Cost Category: Merchant Card Fees
MotorSport Vision (MSV), Europe's largest motor racing circuit operator, sought a solution to streamline their merchant card processing, integrate multiple revenue streams, and improve real-time reporting efficiency.
ERA Group experts Jon Barras and Paul Davidson leveraged their expertise within Payments & Banking to propose a solution which allowed for MSV to retain full control.
Provocarea
MSV had been independently reviewing their Merchant Card Fees and received several proposals promising significant cost savings and improved efficiency. However, these proposals didn't allow MSV to use their own software for better integration, flexibility, control, and real-time reporting.
ERA client managers Keith McGregor and David Keating identified potential improvements and enlisted ERA Banking experts Jon Barras and Paul Davidson to review the proposals. Through a fact-finding exercise, they determined that MSV needed a solution that would:
- Consolidate separate systems for ticketing, hospitality, and merchandising, reducing time costs from non-integrated solutions.
- Allow flexible integrations to switch card terminals between revenue streams and race circuits, streamlining processes and cutting costs.
- Reduce reconciliation time and improve real-time visibility of sales revenue.
ERA proposed using the improved pricing as a baseline to identify further cost reductions and efficiencies on a success fee basis. The project scope included merchant card acquiring, gateway services, and payment terminal cost options.
"Through this process ERA has demonstrated an in-depth knowledge of the banking sector and have been able to find a tailored solution for us that delivers the efficiencies to processes we were looking for but unable to achieve ourselves whilst reducing the cost to our business. This is clearly a win-win-win." [Nick Sheldon – MSV Group]
