Payment Assist announces Spense integration
Finance provider Payment Assist has announced a new partnership with automotive payment technology expert Spense.
The agreement will see Payment Assist’s Buy Now, Pay Later solutions integrated into Spense’s digital dealer platform, which effectively automates the payment journey to reduce administration, lower overheads and improve cashflow for franchised dealers and their service departments.
Through the platform, invoices can be automatically generated and sent to customers by SMS or email, with a digital payment link allowing drivers to easily settle their bill before collecting their vehicle. Automatic reconciliation immediately matches payments against invoices, while real-time data provides visibility of payment status across departments.
It’s estimated that deal will see retailers save up to 15 minutes per customer by eliminating time-intensive manual steps.
Marcus Gregory, CEO of Payment Assist, said: “By partnering with Spense, we’re making it even easier for motorists to spread the cost of vehicle servicing, while subsequently helping dealers to carefully manage digital payments, improve cashflow and reduce manual administration. This not only streamlines efficiencies, but allows staff to focus their attention on maximising sales and prioritising exceptional customer service.”
Didrik Jarlsby, vice president of sales and partnerships at Spense, added: “Integrating with Payment Assist is an important step for Spense as we enter the UK market. Our platform gives dealers the flexibility to work with their preferred payment providers, and UK dealer groups made it clear that they wanted Payment Assist’s BNPL products and competitive rates available through Spense.
“This partnership responds directly to that demand and supports our mission to streamline payment processes for dealers and their customers.”
