Vyne, the specialist Open Banking powered account-to-account payments provider, has announced a partnership with Tjekvik, the leading provider of self-service technologies for automotive dealerships. The partnership enables dealers to save costs on transaction fees, boost cash flow through instant settlement and refunds, and reduce the risk of fraud with the use of bank-level security.
The automotive aftersales check-in and check-out process often presents several pain points for both customers and dealerships, including lengthy wait times and laborious paperwork. One of the biggest challenges is often around payments, from clunky customer experiences due to manual data entry or high-cost, slow settling, insecure card payments for dealerships.
We’re combining Vyne’s expertise in Open Banking powered payments with Tjekvik’s proficiency in intuitive self-service technology to provide dealerships with a safer, fairer and more efficient aftersales check-in and check-out experience.
How does Vyne Pay with bank through Tjekvik help dealerships?
Enhanced customer experiences and sentiment
The check-in and check-out process is made easy through Tjekvik as customers can choose how, when and where to check-in and out, whether that’s in the comfort of their own home, in a dealership or using an outdoor kiosk. Our combined solution enables customers to quickly and securely make payments from their mobile phones before arriving at a self-service kiosk to collect their keys. This not only avoids queues and delays upon vehicle collection, but empowers customers with the ability to check out at their convenience.
Boost cash flow with payments that settle instantly
With Vyne, dealers can expect funds to land in their account within a matter of seconds, allowing them to get a real-time view of cash flow and a single source of truth that can be easily reconciled. This means that when using Vyne Pay with bank through Tjekvik, dealers can receive funds in their account before a customer has even left their home to pick up their keys!
Improve operational efficiency with streamlined processes
Empower your team to spend more time turning over aftersales when Vyne Pay with bank is integrated directly into your DMS. Our combined solution resolves the need for manual processing, reconciliation or time spent confirming receipt of funds, sending invoices and updating the DMS.
Bypass expensive card fees and error-ridden manual bank transfers
Vyne Pay with bank enables merchants to avoid high-cost and unreliable cumbersome methods as the payment goes directly from the customer's bank account to the dealer’s account within seconds, bypassing the expensive intermediaries which can result in huge savings of up to 80%.
Significantly reduce payment fraud and chargebacks
Open Banking payments require biometric authentication, such as faceID or fingerprint, and bank-level security within a customer’s banking app, making it significantly harder to commit fraud. This gives dealers the confidence that the customer is who they say they are, reducing the risk of fraud, human error, chargebacks and the costs associated with lost stock.
Ready to enhance your customer experience while reducing costs?
Vyne and Tjekvik sync seamlessly with most dealer management systems, enabling you to start streamlining your customer experience.