Facepay announces significant usability enhancements to its core payments platform amidst coming increases in credit cards merchant processing.
Repairs shop owners choose Facepay because profits directly increase when credit card transaction fees are offset with a fixed, low-cost monthly subscription enabling direct debit payments from customers, the company said. Facepay has been disrupting the automotive repair market for two years and analyzed thousands of interactions with shop customers resulting in millions in payments.
This announcement and recent customer conversion tools by Facepay are timely as the industry prepares for credit card rate increases next year.
“I’ve been in the auto industry more than 30 years. The industry has not seen a rate increase like this ever that comes into effect in 2022. The rate increase and anticipated audits are a shock to the industry when owners are short staffed and often back in the bays working further complicated by part shortages," said Todd Westerlund, chief revenue officer of Facepay. "Facepay is the only way for owners to keep profits from all the extra effort.”
Facepay responded with significant new usability enhancements that offer significant improvements on customer conversion rates:
- When combined with shop workflow 40 percent of customers convert from credit cards to direct bank payments because they value the convenience of an expedited checkout.
- Customers prefer instant banking 5:1 over manual entry of routing and account numbers found in legacy systems. This traditional barrier to adoption is all but eliminated.
- New usability enhancements reduce customer signup steps by 55 percent.
- Checkout for shop customers is modernized as consumers are now used to the convenience offered from everyday subscription services.
"All of these improvements are white labeled for auto repair shops to incorporate their customers as part of their existing workflow. Customers now rank convenience above loyalty points, awards, or other incentives because time and ease of are more important," said Mark Hale, founder of Facepay. "It is also just as easy for service writers since they accept payment without having to go through the hassle of processing a credit card at the counter.”
