The PushPress Podcast #5 Bankers Piss Me Off (And Screw Over Gyms) | How the Payment and Insurance Industries Prey on Gyms
Jan 8, 2025
Dan Uyemura, a gym owner and founder, shares his eye-opening experiences with predatory payment and insurance practices. He recounts how a 'great deal' turned into a financial trap with hidden fees. The conversation dives into the deceptive tactics of payment processors and the shocking insurance overcharges many gym owners face. Dan highlights how PushPress offers transparent tech solutions that prioritize fairness and savings, revealing impressive metrics showing savings of up to 55% for clients. Tech is reshaping financial services for gym owners!
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Fake Low Payment Rates Exposed
- Dan Uyemura spent a month negotiating payment processing and was told a 1.9% rate that turned out to be a hidden ~4.4% blended rate.
- A banker-member uncovered the fine print showing interchange and fixed fees that made the promise false.
Transparency Beats Fee Circus
- PushPress chose Stripe-style transparent pricing to avoid complex fee structures that hide true costs.
- Simple blended rates remove the need for spreadsheet gymnastics to calculate real payment expenses.
Half-Price Insurance Discovery
- PushPress evaluated an insurance partner and discovered immediate savings of roughly 50% for many gyms with equal or better coverage.
- The team found gym owners were routinely overpaying after COVID without questioning increases.