Buy Here Pay Anywhere: AutoStar and PayNearMe Partner to Simplify BHPH Cash Collections
The foundation of any successful Buy Here Pay Here operation is its ability to consistently collect payments. Perhaps no other activity or dealership operation has more of an impact on your financials and cash flow. Fortunately, one of the most effective ways to improve the collections process is also one of the easiest: simply provide your customers with the most convenient payment options available. For customers paying via ACH or credit card, existing options are straight forward, but what about customers that either do not have a bank account or simply prefer to pay with cash? Unfortunately, traditional methods are not only expensive and inconvenient, but they also present numerous operational headaches for you.
To solve this problem, PayNearMe and AutoStar Solutions have partnered to simplify the way you can accept cash payments from your customers. Now car payments can be made with cash in less than 60 seconds at more than 8,600 local, participating 7-Eleven® and ACE Cash Express® stores nationwide. Payments are 100% guaranteed good funds. For customers, PayNearMe provides an affordable and convenient way to make car repayments with cash 24 hours per day, 7 days per week at locations near where they live or work.
Imagine a customer who works the nightshift and gets paid as he gets off work at 5am. If he has cash in his hand, you want to make sure he can easily make a payment to you without having to drive to your office and then wait for it to open. PayNearMe lets those customers make a cash payment to you no matter the time of day or night. Plus, they get real-time payment confirmation and credit. And what about your customers who simply can’t make it across town to your offices to make a payment? With a 7-Eleven and ACE store on nearly every corner, your customers can conveniently pay you near their homes or workplaces.
By utilizing PayNearMe, your collection processes will be dramatically improved. PayNearMe’s unique partnerships with 7-Eleven and ACE Cash Express provide you with instant access to a vast network of locations where cash payments can be accepted. PayNearMe eliminates the fees associated with other forms of electronic payment while simultaneously eliminating the risk of fraud and theft from your dealership’s cash drawer. In addition, AutoStar’s integration with PayNearMe means that payments are posted to customers’ accounts automatically therefore reducing your costs and streamlining the reconciliation processes.
Using PayNearMe is easy. Within AutoStar, you can either assign PayNearMe Cards to your customers in Fusion, or send them barcodes through Collector Pro that can be printed or rendered on a smartphone. To make a payment, customers hand cash and their card or barcode to the 7-Eleven or ACE Cash Express store associate and the transaction is completed at the register in real time. Payments are then posted instantly to AutoStar, eliminating the need to reconcile cash.
All of this means that your cash customers will have one less excuse for missing payments. Offices closed or too far? 7-Eleven’s are open 24/7, and PayNearMe’s 8,600 payment locations are located right in the neighborhoods of your customers. No credit card or bank account? No problem – make a cash payment at a nearby 7-Eleven or ACE Cash Express store!
For a limited time, PayNearMe and AutoStar are going to be holding 30-minute informational webinars discussing the integration in detail. Register today and find out how you can save 60% on your set up costs.
Call your AutoStar representative at 1-800-682-2215 to sign up for a webinar and learn more.
For more information about PayNearMe, visit their website.
PayNearMe is the cash transaction network that enables consumers to pay rent, repay loans, buy tickets, make online purchases and much more with cash. Consumers can conveniently make payments 24/7 in their own neighborhood in less than 60 seconds at one of the 8,600 participating 7-Eleven and ACE Cash Express stores across the United States. For more information, please visit www.paynearme.com.of “This is a football”.