Car dealers love instant payouts

Reading time: 2 minutes.

Published: March 5, 2023

Car dealer and mechanic talking about instant payouts

Car dealers are a great match for open banking payouts. When you are purchasing a car to sell on your floor, you can offer the sellers an instant, secure and automatic payout.

  1. A seller enters details about their car for sale on your website
  2. Before submitting she also selects her bank and account.
  3. You pick up the car, and make sure everything is in order.
  4. Agree on the final price and sign with the seller.
  5. Within seconds, money has been transacted.
  6. The seller never has to enter your shop or leave their home.

Finshark’s payouts, built on open banking technique, are cheaper than card payouts, handles larger amounts than Swish, and are faster than a regular bank transfer. They also require less manual work then all of them!

For many people, buying and selling cars means handling large transactions. Don’t let them worry about their money getting lost. When a payout is instant, the seller will receive the money on their bank account, the second you close the deal.

Don’t risk mishaps with human errors and minimize potential fraud. When the seller requests a payout, she also authorize with a Strong Customer Authentication (SCA) like BankID, and selects her account. No copy/pasting or manually inputting account numbers. What’s more, Finshark’s payouts always include validating the recipient account and a real time Transaction Risk Analysis.

Your customers are going to love the digital experience of open banking.  Increase conversions and save money in the process!

More payout use cases:

Linus Logren
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Linus Logren

Payment specialist in the e-commerce and marketplace sector. A decade of experience working with e-commerce as a business owner, marketeer and consultant.

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