Just looking to get some info. After you started offering it to your customers what percent started using it?
I noticed one company was using this:http://www.sellmoreautos.com/home/ as they offered it as a package.
Let me know how you made online payments work through your website
We used paypal to collect payments on our website, then we used squareup.com to collect CC payment in office through a smart phone. Both free unless used, then its 2.7% per transaction.
Here at FinCo Management, over 90% of our payments are electronic. 42% are scheduled, 50% are online payments, done either with or without telephone assistance. 62% are weekly.
We discourage ACH payment as the banks can charge the consumer up to $50 NSF fees if they don't have the money to cover their payment. The dealer doesn't get the money, nor does the dealer's lender (if any).
The process is not without risk. Make sure you are PCI compliant, especially if you are going to do automated recurring payments, and you have full authorizations approved by your legal counsel.
I'd be happy to share other advantages with you by telephone 781-639-6000.
Don't use PayPal. They do not allow payments for BHPH dealers. If they see that you are doing this, they will freeze your account in a heartbeat and this is not a good thing.
We offer a MasterCard branded with the dealerships information that the customer has their car payment amount direct deposited onto the card and the dealership then runs the credit card each month for the payment due-they really love this program and it gives them more dealership branding with the customer having the card with the dealerships name and image on it. Want to learn more give me a call at 616-264-3160
It has been a huge help to us. We use Auto Search Technologies as a website provider and they have the ability to add the feature to your site. Authorize.net is the merchant we use to process the payments through the site. I also keep a machine here in the office that walk-ins can use as well as phone in payments. The cost is well worth the collection increase. For us it was a no brainer.
Here is an outline of what AutoSoft NET shows on the website for BHPH Epayments. I hope your find it helpful!