Bumper, a payment platform for car sales, repairs, and services, has teamed up with UK-based automotive technology company Keyloop to advance their integration.
The new phase introduces support for all payment types and automatic payment reconciliation for automotive dealers.
The enhanced collaboration has introduced a comprehensive suite of digital payment solutions along with automatic payment reconciliation for automotive dealers, aiming to streamline transactions and enhance customer experiences.
It includes a variety of payment methods such as ‘Pay by link’, which allows customers to make payments on their devices via SMS or email, and ‘Pay by bank’, which is an open banking payment method.
Additionally, the integration offers ‘PayLater’, which provides interest-free monthly payments, and ‘PayPads’, an all-in-one point-of-sale (POS) device that consolidates all payment types into one mobile terminal.
The introduction of these flexible payment options at the checkout is anticipated to boost customer satisfaction and retention.
A survey conducted among Bumper’s customers revealed that 90% would likely return to the same dealership if Bumper was available as a payment option, and nearly 89% reported feeling less stressed about the payment process.
This new solution marks a significant advancement for retailers by enabling reconciled payments directly within the Keyloop platform.
The automated payment reconciliation process is designed to save time across various business areas, from workshop advisers to back-office accounts teams.
It is tailored specifically to support Keyloop’s dealer management systems.
With payments automatically reconciled across all systems, advisers can avoid switching between platforms, thereby reducing the risk of errors and enhancing overall efficiency.
The solution, which is currently available in the UK, will be launched in Germany, Spain, and the Netherlands over the coming months.
Bumper co-founder and chief commercial officer Jack Allman said: “This integration marks a major milestone in our mission to simplify and enhance the payment process for automotive retailers.”
Keyloop partner director Sebastien Fabri said: “Consumers today demand flexible options at checkout and Bumper affords them this opportunity.
“Whether that’s Buy Now Pay Later, paying remotely via link, open banking, or in-store on PayPad, this integration is an essential tool for any customer-centric dealer.”
“Bumper and Keyloop launch digital payment solutions for automotive dealers” was originally created and published by Motor Finance Online, a GlobalData owned brand.
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