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Dealer Pay, a provider of point-of-sale technology to franchise and independent auto dealers, has updated its platform with several new features intended to deliver a better customer experience.
Dealer Pay’s “send payment request” features enable dealers to collect payments directly from the customer via text messaging or email. Dealers can send a digital copy of the invoice, whether it’s for a purchase of a car or parts or to pay for service to the customer, according to the company. Upon receipt, customers affix their digital signature to authorize payment. The feature is expected to speed payment as research has shown that 60% of consumers read business text messages within five minutes, and 35% of auto dealer’s customers want to pay by text message, Dealer Pay says.
In addition to payments via text and email, Dealer Pay’s platform supports credit and debit cards, ACH transactions and checks, e-commerce, and mobile payments, as well as recurring and digital gift card payments. Other features of Dealer Pay’s platform include cash receipts and dashboard analytics.
Dealer Pay’s platform is PCI-DSS- and FTC Safeguards- compliant, and supports such security features as multi-factor authentication and the ability for dealerships to impose internal limits and controls around transactions to prevent fraud and loss, the company says. FTC Safeguards is an Federal Trade Commission rule covering nonbank financial institutions, such as car dealers.
“We are thrilled to release these exciting features knowing that dealerships will inherently improve both business operations and customer satisfaction,” Dealer Pay chief executive and president Julie Douglas says in a prepared statement. “We will continue to add new features with the input of our dealer advisory board and current clients. Buy now, pay later, self-pay kiosk/EV, rewards/loyalty, and [two]-way communications are just some of the features on deck and coming soon.”
Dealer Pay is a member of Convenient Brands LLC’s family of business technology companies that is owned by New York City-based private investment firm The Beekman Group.
