Automotive fintech Bumper is deepening its partnership with Pinewood.AI by launching a brand new open banking integration that allows automobile retailers to course of pay by financial institution and pay by card transactions straight from their vendor administration techniques (DMS).
Now reside throughout greater than 200 dealerships, the mixing permits retailers to ship cost requests through e mail or SMS, enabling clients to finish transactions utilizing their financial institution accounts, debit/bank cards, or digital wallets akin to Apple Pay and Google Pay.
Bumper is the only real supplier of open banking providers inside the Pinewood.AI ecosystem within the UK and builds on its current partnership by means of its PayLater possibility through Pinewood.AI’s automobile well being examine instrument.
Retailers profit from decrease transaction charges, sooner cost processing, and diminished administrative effort. The platform additionally affords clever cost routing, solely displaying related cost choices to clients based mostly on pre-set standards to streamline the person expertise and maximise value financial savings.
“This main integration expands our relationship with Pinewood.AI and is already delivering considerably decrease prices per transaction for sellers, in comparison with conventional card funds,” stated Daniel Christie, head of gross sales at Bumper.
“By integrating with current dealership techniques, it affords retailers larger effectivity and offers clients extra versatile methods to pay.”
Open banking affords enhanced fraud safety and safety advantages, including one other layer of assurance for each sellers and shoppers.
Kim Costello, international chief advertising and marketing officer at Pinewood.AI, praising the rollout, stated: “We’re delighted with this newest integration with Bumper, following a profitable pilot earlier this 12 months. Embedding Bumper’s Pay by Financial institution straight into Pinewood.AI helps streamline operations for retailers and improves comfort for purchasers.”
The businesses have additionally confirmed that their subsequent joint innovation – PayPad – is already in growth. The answer goals to unify all transaction sorts by means of a single interface, together with in-store PoS funds, distant card transactions, safe financial institution transfers, and Purchase Now, Pay Later choices.
