Automotive fintech Bumper is deepening its partnership with Pinewood.AI by launching a brand new open banking integration that allows automobile retailers to process pay by bank and pay by card transactions directly from their dealer management systems (DMS).
Now live across greater than 200 dealerships, the combination allows retailers to send payment requests via email or SMS, enabling customers to finish transactions using their bank accounts, debit/bank cards, or digital wallets akin to Apple Pay and Google Pay.
Bumper is the only provider of open banking services inside the Pinewood.AI ecosystem within the UK and builds on its existing partnership through its PayLater option via Pinewood.AI’s vehicle health check tool.
Retailers profit from lower transaction fees, faster payment processing, and reduced administrative effort. The platform also offers intelligent payment routing, only displaying relevant payment options to customers based on pre-set criteria to streamline the user experience and maximise cost savings.
“This major integration expands our relationship with Pinewood.AI and is already delivering significantly lower costs per transaction for dealers, in comparison with traditional card payments,” said Daniel Christie, head of sales at Bumper.
“By integrating with existing dealership systems, it offers retailers greater efficiency and offers customers more flexible ways to pay.”
Open banking offers enhanced fraud protection and security advantages, adding one other layer of assurance for each dealers and consumers.
Kim Costello, global chief marketing officer at Pinewood.AI, praising the rollout, said: “We’re delighted with this latest integration with Bumper, following a successful pilot earlier this yr. Embedding Bumper’s Pay by Bank directly into Pinewood.AI helps streamline operations for retailers and improves convenience for patrons.”
The businesses have also confirmed that their next joint innovation – PayPad – is already in development. The answer goals to unify all transaction types through a single interface, including in-store PoS payments, distant card transactions, secure bank transfers, and Buy Now, Pay Later options.
This Article First Appeared At www.am-online.com
