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Merchant Statements
Payment processing is one of the few controllable expenses left in today's dealership.
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Payment choice and flexibility are of critical importance for dealerships with an eye on long-term growth. This key finding is an overarching theme from a recent survey commissioned by PayJunction, that surveyed 500 U.S. consumers who own a vehicle, possess a credit card, and have visited a dealership within the past 12 months. The strongest lesson from the data is not that consumers prefer one payment method over another. It's that consumers want options. Whether they choose a credit card, debit card, cash, check, or Buy Now, Pay Later solution depends on their circumstances, financial goals, and stage of life.
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Payment choice and flexibility are of critical importance for dealerships with an eye on long-term growth. This key finding is an overarching theme from a recent survey commissioned by PayJunction, that surveyed 500 U.S. consumers who own a vehicle, possess a credit card, and have visited a dealership within the past 12 months.
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The costs of accepting payments at automotive repair shops can add up quickly, especially when dealing with major repairs and expensive parts. Inefficient business processes only amplify these expenses, increasing operational costs and straining cash flow. If not addressed, profits can stall.
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The automotive industry is undergoing a significant transformation driven by customer demand for speed, convenience, and safety. One of the most impactful changes is the adoption of contactless payment solutions, which streamline transactions, enhance security, and improve the overall customer experience.
READ MOREHandling any business’s day-to-day financial management isn’t easy. Toss in multiple locations and departments, and you really make things interesting.
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