Bumper, Pinewood.AI increase open banking and card fee partnership

Automotive fintech Bumper is deepening its partnership with Pinewood.AI by launching a brand new open banking integration that permits automobile retailers to course of pay by financial institution and pay by card transactions straight from their vendor administration methods (DMS).

Now stay throughout greater than 200 dealerships, the mixing permits retailers to ship fee requests by way of e mail or SMS, enabling prospects to finish transactions utilizing their financial institution accounts, debit/bank cards, or digital wallets reminiscent of Apple Pay and Google Pay.

Bumper is the only supplier of open banking providers throughout the Pinewood.AI ecosystem within the UK and builds on its current partnership by means of its PayLater possibility by way of Pinewood.AI’s automobile well being examine instrument.

Retailers profit from decrease transaction charges, sooner fee processing, and diminished administrative effort. The platform additionally provides clever fee routing, solely displaying related fee choices to prospects 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 methods, it provides retailers higher effectivity and provides prospects extra versatile methods to pay.”

Open banking provides enhanced fraud safety and safety advantages, including one other layer of assurance for each sellers and customers.

Kim Costello, world chief advertising officer at Pinewood.AI, praising the rollout, stated: “We’re delighted with this newest integration with Bumper, following a profitable pilot earlier this yr. Embedding Bumper’s Pay by Financial institution straight into Pinewood.AI helps streamline operations for retailers and improves comfort for patrons.”

The businesses have additionally confirmed that their subsequent joint innovation – PayPad – is already in improvement. The answer goals to unify all transaction varieties 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.