Pinnacle's new integrated chip and PIN functionality solves dealer accounting problem

20 April 2007

 

Pinewood's Pinnacle has become the only dealer management system available in the UK with integrated chip and PIN functionality.

 

This development solves one of the most time consuming daily accounting problems found in dealerships by automatically reconciling within the DMS all debit and credit card transactions - until now a unrewarding task left for dealership accounting staff to complete manually at the end of each day.

 

In other DMS systems, this transaction information has to be taken from the old magnetic swipe PDQ card machines in use in most dealers but in Pinnacle, chip and Pin transactions integrate seamlessly into the account system without any further reconciliation. 

 

The development also brings security benefits for customers - there is no need for dealership staff to take the card to where the PDQ machine is located - it stays in sight at all times minimising opportunities for fraud. Additionally, credits can only be made to cards on which the original debit was made.

 

Chip and PIN functionality allows dealers to provide the same consumer friendly and streamlined service experienced on the High Street.  Processing time for chip and PIN is fast, efficient and keeps the customer in control of his financial information.   

 

Pinewood’s managing director, Neville Briggs, explained: "Almost all transactions completed in a dealership - from buying a part to an entire car - involve use of a credit or debit card.

 

"Any dealer running our Pinnacle dealer management system can have chip and PIN functionality installed, allowing them to scan credit and debit cards and accept customers’ PIN information.

 

"Pinnacle will connect directly to the merchant to gain authorisation, and reconcile the accounts automatically. It's a simple development but one that has a lot of dealership accountants already smiling."

 

The chip and PIN feature has been through a compulsory accreditation and approvals process by bank merchants.

 

 

For further details please contact Simon Wells at
Paperchase Public Relations on 01283 711311
or e-mail simon@paperchasepr.co.uk

 

 

 

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