The auto dealership industry, like many others, is experiencing a digital transformation. The global pandemic accelerated this transformation and shifted customer payment and communication preferences to contactless options.
A study by Mastercard found that 79% of respondents worldwide are using contactless payments, citing safety and cleanliness as key drivers. This shift in consumer behavior extends to the automotive industry, where the traditional methods of cash and card payments are being replaced by faster, more convenient options.
Benefits of Contactless Payments for Auto Dealerships
Adopting contactless payments can provide several advantages to auto dealerships:
- Efficient Operations: Contactless payments can help reduce the time and effort spent on cash handling and the potential for human error, making operations more efficient.
- Improved Cash Flow: Real-time payments eliminate the waiting period associated with check clearing or card payment processing. This can improve cash flow, a key aspect of running a successful business.
- Enhanced Customer Experience: A survey by American Express found that 69% of consumers have a more positive view of businesses that accept contactless payments. By offering this option, auto dealerships can provide a better customer experience and potentially increase customer loyalty.
- Increased Security: Contactless payments use advanced encryption technology, which can reduce the risk of payment fraud.
Incorporating Everyware's Pay By Text Solution
Everyware's innovative Pay By Text solution can further enhance the advantages of contactless payments for auto dealerships. Businesses are able to send a payment link via text, enabling customers to pay at their convenience right from their phone. The business receives the payment instantly, streamlining the payment process and offering a contactless option that is increasingly important in today's environment.
Future of Payments in Auto Dealerships
For auto dealerships and shop owners looking to stay competitive in this digital age, adopting contactless payments is a strategic move. By anticipating customers' needs, streamlining operations, and utilizing advanced technology, auto dealerships and service centers can position themselves for success.
Whether a business is a small-town dealership or a nationwide chain, the potential of real-time payments and Everyware’s innovative Pay By Text solution can significantly impact its operations. As the industry moves forward, contactless payments are likely to become the norm rather than the exception. The future of payments in auto dealerships is here, and it is contactless.