Open banking will provide a useful solution for franchised dealer groups which are reliant on expensive and inefficient card payments and bank transfers, argues Cian O’Dowd, co-founder and chief operating officer of Atoa, an FCA authorised payment institution.
Bumper has acquired digital payments platform Cocoon Payments used by over one of five of the UK’s top 100 franchised dealer groups.
Warranty Solutions Group (WSG) is to partner with interest-free car payment solution provider Bumper to support motorists managing repair costs and extended warranties, while offering dealerships profitable upsell opportunities.
Automotive fintech business Bumper has delivered record revenues of £11.7 million for the financial year ended 31 December, marking a 54% increase year-on-year.
Fast-growing fintech business Bumper is acquiring Telford-based AutoBI, a specialist in business intelligence solutions for dealerships and original equipment manufacturers (OEMs).
Kia has launched its CarPay in-car payment service in the EV3, allowing drivers to make payments directly through the vehicle’s navigation screen.
Payment Assist has reported a significant 350% increase in applications for its flexible four-month payment instalment plan.
Bumper and Keyloop have advanced their partnership by launching a new phase of integration that now includes all payment types for automotive dealers, along with automatic payment reconciliation.
Millennials are the most frequent users of Buy Now, Pay Later (BNPL) services to manage car repair, servicing, and MoT expenses, according to fintech payment specialist Bumper.
