Volt and Bumper Revolutionize Car Dealerships with Open Banking Integration

In a groundbreaking collaboration, real-time payments platform Volt has teamed up with Bumper to introduce open banking capabilities to car dealerships across the UK and Europe, according to Finextra. This partnership aims to streamline financial transactions within the automotive industry, benefiting both dealerships and car owners.

Bumper, a service that collaborates with more than 5000 dealerships and garages in the UK, Spain, Germany, Netherlands, and Republic of Ireland, has played a pivotal role in facilitating the payment of servicing and repair bills for over 500,000 drivers. Volt has now empowered Bumper’s ‘Pay Now’ function with its cutting-edge technology, enabling real-time payments for a wide range of automotive needs, including cars, parts, and repairs. Dealerships will also reap the benefits of instantaneous settlements, all meticulously tracked in real-time.

The integration of Volt’s payment platform with Bumper introduces a user-friendly checkout flow and convenient pay-by-link options, delivering a mobile-first experience that enhances the service provided by car dealerships.

Richard Drury, VP of Partnerships at Volt, expressed his enthusiasm about this groundbreaking collaboration, stating, «For car dealerships, the payments process has been a major challenge, and our solution is a real asset in alleviating those challenges many dealership owners are facing today. We’ve created a perfect solution for Bumper, with the initial results and quick adoption proving that it resonates with both buyers and sellers. There’s huge potential for real-time payments to take off in the automotive industry, so this partnership was a no-brainer for Volt.»

This collaboration between Volt and Bumper signifies a significant leap forward in modernizing the automotive industry’s financial transactions. By offering real-time payments, instantaneous settlements, and user-friendly options, this partnership is set to revolutionize the way car dealerships handle financial transactions, ultimately benefiting both dealers and customers.