Digital Transactions Authoritative, insightful and timely information for payments professionals
CDK Global LLC, a provider of cloud-based software for auto dealerships and original equipment manufacturers, has launched SimplePay, a cloud-based payments solution for auto dealers.
Austin, Texas-based CDK developed SimplePay to help dealers streamline payments throughout their dealerships, such as service, parts, and accessories purchases through a single platform. The platform can also support down payments and auto purchases.
Payment options supported by SimplePay include credit and debit cards, automated clearing house, checks, and cash. Also supported are text-to-pay, tap-to-pay, mobile wallets, and digital-payment links
SimplePay, which is embedded in the CDK platform, also supports credit card surcharging, a practice in which merchants levy fees to offset their card-acceptance costs. Surcharging is becoming a more common practice among merchants, with some 34% engaging in the practice, according to J.D. Power.
“[SimplePay] offers streamlined, consistent workflows, eliminates manual data entry with consistent data flows,” Tom Cunningham, director of payments marketing for CDK says by email. “Additionally, it takes into consideration all stakeholders in the transaction – the dealer associate, the customer, and the back-office teams to offer a best-in-class payment experience for all.”
Another key feature of SimplePay is automatic reconciliation of payments by matching payment records with accounting entries. Doing so eliminates the need for manual booking and reduces the risk of errors that can occur with manual processes. A recent study by CDK revealed that dealers spend up to 30% more time reconciling payments when using third-party processors.
“SimplePay leverages an auto-reconciliation process which alleviates the necessity to create offsetting transactions when batches are posted,” Cunningham says. “With this step being automated, both time and the probability of human error are significantly reduced.”
In addition to being compliant with the Payment Card Industry security standard, SimplePay speeds checkout and supports partial payments, digital receipts, and real-time transaction summaries, the company adds.
