Real-time payments platform Volt has struck a deal with Bumper to bring open banking to car dealerships in the UK and Europe.
In Brief:
- Bumper works with over 5000 dealerships and garages across the UK, Spain, Germany, Netherlands, and Republic of Ireland, helping over 500,000 drivers to pay their servicing and repair bills.
- Volt now powers Bumper’s ‘Pay Now’ function, facilitating real-time payments for cars, parts, and repairs, with dealerships receiving the benefit of instant settlements, which are tracked in real-time.
- The integration also allows checkout flow and pay-by-link options, providing a mobile-first experience to the service car dealerships provide.
What does this mean?
Richard Drury, VP, Partnerships, Volt, says: “For car dealerships, the payments process has been a major challenge and our solution is a real asset in alleviating those challenges many dealership owners are facing today. We’ve created a perfect solution for Bumper, with the initial results and quick adoption proving that it resonates with both buyers and sellers. There’s huge potential for real-time payments to take off in the automotive industry, so this partnership was a no-brainer for Volt.”
