With Payment Processing, the question is simple…….
Do you want Reliable Processing, Quick Deposits, and Transparent Rates (that don’t increase)? How about Direct/Friendly Support on a Dealer-Specific point-of-sale solution, that improves Efficiency and promote Customer Retention?
The answer is YES…let us show you why.
Unlike most retail, dealerships and automotive groups have intricate needs when it comes to accepting payments. With daily high-volume sales, the demand for reliable point-of-sale and reporting solutions is a must. Dealers require a sophisticated front and back-end payments application, that can manage complicated, high ticket transactions and payment plans. In a ultra-competitive sales market, dealers need to maximize tools to gain customer loyalty and improve retention.
Dealers know it takes only one mishap or error in the process, to kill the sale and lose a customer, both in sales and service/parts. This blog will teach you useful tips when selecting a payment processor for your dealership. Wholesale vendors pay the same rates and fees to process a debit or credit card, whether you are a small independent dealer or a large dealer group. The difference in cost is dependent on the type of card the customer uses and how the transaction is processed.
Debit cards process at a lower rate than a rewards or corporate card, but each have their own rate and fee assigned by the card associations (MasterCard, Visa, Discover and American Express). If you were to Google, Visa / MasterCard Interchange rates, you can clearly see that these rates and fees are public knowledge. Why are there so many complicated tiers and buckets? The process of doing a comparison between providers is not simple, since most providers don’t disclose the true rates and hide fees. Most bank or other payment processors’ statements are almost impossible to determine cost. We also find during this process dealers are paying much more, several months later, because of the “fine print” increases.
Is it all about the money? Looking for a good vendor with good rates should not be your sole deciding factor. You should also “pay attention” to other aspects of a payment processing solution, that are very important to your dealership. These include; improved customer experience/convenience, systems accuracy/dependability, daily workflow/efficiency, and transaction management. Things like quick deposits, detailed reporting/reconciliation, reduced PCI scope, advanced technology, industry experience and references are also very important.
Dealer Pay is 100% transparent and provides all rates and corresponding fees upfront. Additionally, since our expertise is in the dealer space, we provide safeguards to make sure you are processing at the lowest rate (Interchange Optimization). In all actuality, converting to Dealer Pay is a pretty easy transition. We will do most of the work for you and provide hands-on training and on-going support. You won’t have to continue worrying if you have the necessary compliance, most up-to-date systems and competitive rates, well because we won’t ever raise them.
We are reliable, reputable, recommended and trusted with almost 20 years’ experience working with dealers. We are a skilled payments resource and an advocate of the automotive industry. Our mission is to provide, again with all of its glory, the perfect solution and business relationship, with the biggest goal in mind…to help you accept as many payments as possible. Call or email us today and we will provide a no-obligation cost/service analysis, 888-848-3812 / 636-442-4901 x 1 – firstname.lastname@example.org.
Let us prove it to you! Call 888-848-3812 or email email@example.com