A new solution introduced this week by iVendi, dubbed iVendi Pay, removes multiple “points of friction” encountered by dealers when it comes to taking payments.
The solution embeds into existing digital processes, making it easier to take payments for vehicles, reducing administration, delivering a transparent payment experience, and offering flexibility for add-ons, upgrades and finance packages.
James Tew, CEO at iVendi, said: “When it comes to creating a seamless sales journey, payments remain one of the last areas of difficult. Because buyers today expect convenience, transparency and speed, these points of friction could cost sales.
“Today, payments in automotive retail are often slow, manual and disconnected from dealer systems.
“Staff spend a lot of time on tasks such as chasing deposits, matching payments to vehicles and fixing administrative errors.”
Results from the technology include automatically linking payments to deals, improved visibility, faster vehicle handovers and ultimately, stronger margins.
The benefits of the solution are the removal of manual processes, minimising customer frustration and making it easier to take payment for products such as warranties and other add-ons.
Tew said: “We have been developing our product range so that iVendi is very much becoming the Shopify of automotive retail, with highly effective technology covering every step of the customer journey.
“The arrival of iVendi Pay is an important step in completing this all-encompassing vision. It delivers very real improvements in an area that has long been painful for both dealers and their customers and we’re expecting interest to be high.”
