Bumper, a payments platform for car sales, repairs and maintenance, has partnered with British automotive technology company Keyloop to enhance their integration.
The new phase introduces support for all payment types and automatic payment reconciliation for car dealers.
The enhanced partnership has resulted in a comprehensive suite of digital payment solutions and automatic payment reconciliation for car dealers, with the aim of streamlining transactions and improving the customer experience.
It includes a variety of payment methods, such as ‘Pay via Link’, which allows customers to make payments on their device via SMS or email, and ‘Pay via Bank’, an open banking payment method.
In addition, the integration offers ‘PayLater’, which offers interest-free monthly payments, and ‘PayPads’, an all-in-one point-of-sale (POS) device that consolidates all types of payments into one mobile terminal.
The introduction of these flexible payment options at checkout is expected to increase customer satisfaction and retention.
A survey of Bumper customers found that 90% would likely return to the same dealership if Bumper was available as a payment option. In addition, nearly 89% said they felt less stressed about the payment process.
This new solution represents a significant advancement for retailers as it enables reconciled payments directly within the Keyloop platform.
The automated payment reconciliation process is designed to save time across multiple areas of the business, from workshop advisors to back-office accounts teams.
It is specifically designed to support Keyloop’s dealer management systems.
By automatically reconciling payments across all systems, advisors no longer need to switch between platforms, reducing the risk of errors and improving overall efficiency.
The solution, which is currently only available in the UK, will be launched in Germany, Spain and the Netherlands in the coming months.
Jack Allman, co-founder and Chief Commercial Officer of Bumper, said, “This integration marks a significant milestone in our mission to simplify and improve the payment process for auto sellers.”
Keyloop Partner Director Sebastien Fabri said: “Consumers today demand flexible options at checkout and Bumper offers them this opportunity.
“Whether it’s Buy Now, Pay Later, remote payment via a link, open banking or in-store via PayPad, this integration is an essential tool for any customer-centric dealer.”
“Bumper and Keyloop launch digital payment solutions for car dealers” was originally created and published by Motor Finance Online, a GlobalData brand.
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