Solupay has recently developed a credit, debit and electronic check authorization and conversion  program specific to automobile dealerships. Our experience in working with automobile dealers has enabled us to understand the specific issues that often face this industry. Typically dealerships are accepting electronic payments for three specific reasons: down payments, auto repair and parts via the Internet.

While we currently have the ability to integrate payments at your POS, we can also simply download current equipment at no cost. Offering your clients multiple payment options is a primary goal. As such, our gift/stored value card and electronic check conversion programs can be implemented very easily with an upgrade to a dial or high speed (DSL/ Cable Modem Compliant) terminal which will yield 2-3 second response times.   These new terminals permit us to load multiple applications for credit, debit, gift and check processing on the SAME terminal.

Additionally, settlement timing is very important. Solupay can provide NEXT day funding for settled batches transmitted prior to 7:00 PM ET.  So Monday activity transmitted by 7:00 PM ET will be settled to your bank account via ACH anywhere in the nation by Tuesday.

Gift and Loyalty Card Programs
Gift cards have become an excellent way to target and garner repeat business. For example, as opposed to lowering the cost of the vehicle by $100, or providing a gift for a test drive, why not provide your customers with a private label gift card with your dealership logo that requires the buyer to come back for oil changes and other maintenance. If the customer does not use it, or leaves value on the card, these funds revert back to the dealership.  We have a complete gift card solution (from plastics, marketing flyers, processing and reporting).

Check Conversion for Dealerships
Why not accept checks just like you accept credit cards? Solupay’s electronic check conversion program makes taking a check as simple as taking a credit card. The checks can be authorized and electronically deposited into your bank account, similar to your credit card transactions.

The benefits of Solupay’s check conversion program are obvious. Solupay offers hassle-free check acceptance that is just as easy as accepting credit cards. No more running to the bank to deposit checks at the end of the day. Even better, bank return fees will be a thing of the past.

Most electronic check programs will not allow merchants to accept business checks. Merchants using our check conversion and verification program can accept business checks as well as personal checks.

Thanks to recent changes with NACHA, the electronic payments association, electronic check conversion is one of the most efficient ways to accept checks.  With our check authorization and conversion system, the check is verified against one of the largest check and most accurate verification database in the nation. Once approved, the check is converted to an electronic item and deposited into your bank account within 24-48 hours. In the event that the check is returned NSF, we will re-present the check electronically (if NSF) up to two more times at no additional charge, with at least one strategic presentment to collect a service fee.  

Additionally hard collections and listing in the national database will assist in collecting items.  Check conversion is a great way to reduce the high expense of bank deposit and return fees, lengthy delays in checks being returned by the bank(typically 7 days or more), collection efforts and overall paper handling.