Partner Spotlight: Pinewood

At Vyne, we pride ourselves on the great partnerships we’ve built over the years, which is why we’re launching our new Partner Spotlight series

1 year ago • 3 min read

At Vyne, we pride ourselves on the great partnerships we’ve built over the years, which is why we’re launching our new series; Partner Spotlight, where we’ll showcase our partners and what they do, why they chose to partner with Vyne and plenty more.

First up in the series… Pinewood!

In September 2022, Vyne partnered with leading global dealer management system Pinewood, to provide their dealers with an instant payment addition to their digital omnichannel offering. The partnership continues to drive Open Banking adoption in the automotive sector by giving car buyers a new payment option, Vyne Pay with bank.

Please explain Pinewood, who you are and what you do.

We are the creators of Pinewood DMS – the cloud-hosted dealer management system, trusted by dealers and original equipment manufacturers (OEMs) across the globe. Pinewood DMS and our range of integrated apps support dealer groups to digitalise processes and deliver the ultimate omnichannel experience to car buyers. Every module of our system is interlinked – connecting every user, department, and branch. From sales to service to parts and more, the DMS is a complete solution for dealers and groups of all sizes.

How are dealerships approaching changing consumer buying demand?

The offer of multiple payment options is standard across retail, and most dealerships are now beginning to move towards this. Digital tools began to move forward before the pandemic including digital signatures, online bookings and purchasing however, the demand heightened once dealers realised that they needed to be more flexible with their services. Vyne’s Open Banking powered account-to-account payments provide the flexibility and choice that sales and service customers are expecting when visiting a dealership.

What approach are dealerships taking to omnichannel experiences?

Dealerships are looking to align their online and instore offering and Pinewood DMS provides a seamless way to do so. Our partnership with Vyne provides secure payments, automatically reconciled in the DMS, and attached to the customer record – providing transparency and extra security for dealers and their customers.

What was the key factor(s) in your decision to partner with Vyne? 

We’re always looking to keep costs low and maintain a high level of security for our customers, so when looking for payment options, the ease of use and cost savings were some of the key factors for choosing Vyne as a partner. Most account-to-account transactions cost less for dealers compared to standard debit or credit card processing. It also provides a much more secure environment for customers paying high values with direct payments, automatic reconciliation, and refund control.

What impact has Pay with bank had since your partnership with Vyne?

Leading automotive retailer, Pendragon, were the first dealership to go live with Vyne through the Pinewood DMS. 

Since then, Vyne has helped Pendragon save 73% on transaction fees versus card, enabling them to “retain cost” and “continue to invest in innovation through digital, omnichannel experiences.” – Martin Dobson, UK Divisional Finance Director at Pendragon.

Vyne Pay with bank also claims 67% share of wallet in Pendragon’s CarStore brand, which is “growing every month” across the entire dealership portfolio.

Read the full Pendragon case study here.

You can easily add Vyne into your Pinewood DMS to start saving on transaction fees. Click the button below to book a demo with your Pinewood account manager.

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Stay tuned for the next in the Partner Spotlight series. In the meantime, learn more about Pinewood on their website.