MOUNTAIN VIEW, CALIFORNIA – (COMMERCIAL THREAD) – Facepay Inc. announces significant usability improvements to its primary relationship payments platform amid upcoming increases in merchant credit card processing, unprecedented in decades. Repair shops using Facepay provide increased convenience to their customers as part of their service workflow. Adoption by store customers is accelerating when using Facepay, just as credit card prices go up for all full service processors and discount cards (announcement).
Repair store owners choose Facepay because profits increase directly when credit card transaction fees are offset by a fixed, inexpensive monthly subscription that allows direct debit payments from customers. Facepay has been disrupting the auto repair market for two years and has analyzed thousands of interactions with store customers, resulting in millions of payments. Facepay has responded with significant new usability improvements that offer significant improvements in customer conversion rates.
When combined with the store’s workflow, 40% of customers switch from credit cards to direct bank payments because they appreciate the convenience of expedited payment.
Customers prefer 5: 1 instant banking over manual entry of routing and account numbers found in existing systems. This traditional barrier to adoption is all but eliminated.
Further usability improvements reduce customer registration steps by 55%.
The checkout for store customers is modernized as consumers are now accustomed to the convenience offered by daily subscription services. Our technology is used in many consumer applications where more than half of the population has been connected directly to more than 11,000 financial institutions.
Facepay has been able to achieve these remarkable advancements without requiring the installation of any apps. There is no reason for a repair shop to adopt a solution that passes credit card charges onto consumers, ultimately hurting their business. Registered credit cards have higher card absent rates. The Facepay relationship payments platform is the prefer means of payment.
Dr. Mark Hale, founder of Facepay and inventor of relationship payments, goes on to say that âall of these improvements are white label for auto repair shops to integrate their customers into their existing workflow. Customers are now placing convenience above loyalty points, rewards or other incentives as time and ease of use are more important. Hale goes on to say, “It’s also just as easy for service writers, as they accept payments without having to bother processing a credit card over the counter.”
This announcement and Facepay’s recent customer conversion tools come at a great time as the industry braces for credit card rate hikes next year. Todd Westerlund, Director of Revenue at Facepay, says, âI have worked in the automotive industry for over 30 years. The industry has never seen a rate hike like this which will take effect in 2022. The rate hike and planned audits come as a shock to the industry when owners are short of staff and often short of staff. back into the bays, working even more complicated by parts shortages. Facepay is the only way for homeowners to keep the profits from all the extra effort.
The usability enhancements are now available free of charge as an upgrade to all business customers on our relationship payments platform subscription plan. If you would like a demo, please visit www.facepay.io or call (800) 403-0221.
The Facepay relationship payments platform that helps business owners dramatically increase profits by eliminating credit card processing (transaction) fees.
Facepay’s disruptive technology allows auto store owners to adopt a modern payment structure with a low-cost fixed monthly subscription as an alternative to paying about 2.5% of their income to credit card processors. Facepay works with all management systems and our easy to use dashboard is used in your existing workflow. On average in American auto repair shops, the Facepay model adds $ 25,000 to the bottom line each year.
Facepay also allows repair shops to offer their customers several payment options, including contactless payments, monthly installments, and service subscription plans.
For more information or to schedule a demo, visit www.facepay.io or call (800) 403-0221.