Month: September 2022

Pinewood and Vyne Offer Secure Payment Option

Pinewood DMS, one of the leading global solutions for automotive dealer management, is now integrated with Vyne – providing dealers with an instant, secure payment option – further extending their digital omnichannel offering.

Neville Briggs, Managing Director, Pinewood Technologies, comments –

“Car buyers are increasingly looking for the omnichannel option when searching for a new vehicle. We recognise the importance of providing a low-cost, secure solution to dealers and this includes our payment offering.

Vyne’s open banking software removes the hassle of sharing bank details or personal data. The latest integration with Pinewood DMS means dealers can be confident when requesting payments for vehicle sales and service work, enhancing our digital offering.”

No need for manual bank transfers

The integration between Vyne and Pinewood eliminates the need for manual bank transfers by leveraging Open Banking technology. Although a common payment method in the UK automotive industry, manual bank transfers can offer a poor user experience prone to manual errors. Compared to account-to-account payments, which can be completed securely in as little as three clicks on a customer’s smartphone.

As payments are settled in real-time, customers can leave a deposit and take their vehicle home on the same day. For consumers, this enhances the experience of purchasing a new vehicle, and for dealers, increases conversion rates.

Reducing costs for large dealer groups

Pendragon PLC is one of the UK’s leading automotive retailers, serving hundreds of thousands of customers online and in-dealership every year. Pendragon’s brands can now bypass card networks and their associated fees. This is through offering Vyne’s payment solution in Pinewood DMS, which reduces costs and accelerates cash flow with instant settlement.

Bill Berman, Chief Executive Officer, Pendragon PLC, comments –

“Customers are at the heart of what we do, and we strive to provide the best possible experience for those choosing their next car. It was great to become the first automotive brand in the UK to offer account-to-account payments in dealerships in June. By also integrating Vyne into Pinewood DMS, we are thrilled to be able to improve the automotive retail experience for more customers across the country.”

A great addition to the omnichannel offering

Vyne’s innovative technology eliminates middlemen while improving the consumer experience – providing faster, simpler, cost-effective payments. By integrating Vyne into Pinewood DMS, dealerships will be able to offer Vyne’s payment solution to all customers. Initially, this will be through in-store payment operations, and in future on their websites.

Karl MacGregor, CEO, and Co-founder of Vyne adds –

“It’s fantastic that Pinewood has chosen to offer Vyne’s Open Banking solution to its customers. As Pendragon is one of the largest and most influential automotive retailers in the UK, we are thrilled to be the selected account-to-account provider trusted in providing a seamless Open Banking experience to even more automotive customers.”

Vyne integration in Pinewood DMS is available now to all Pinewood customers. Register your interest.

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