Bumper has launched a new open banking integration with Pinewood.AI, enabling car retailers to process Pay by Bank and Pay by Card services directly from their dealer management systems (DMS).

The integration is already live across 200 UK dealerships with a pipeline of sites to follow. 

The integration works by retailers sending payment requests to customers by email or SMS, with a link for them to pay directly from their bank accounts. In addition to the ease of use, open banking provides enhanced security and protection against fraud for both retailers and customers.

It also facilitates Bumper’s Pay by Card service using credit cards, debit cards, Apple Pay and Google Pay. 

Dealers can benefit from lower transaction fees, faster payments and reduced administration time.   

The integration provides intelligent routing of payments to maximise savings and remove friction, only displaying payment methods relevant to the customer based on pre-set thresholds. 

The move sees Bumper becoming Pinewood.AI’s sole provider of open banking services in the UK. The two tech companies have a long-standing partnership with Bumper’s PayLater service offered through Pinewood.AI’s vehicle health check tool.

“This major integration expands our relationship with Pinewood.AI and is already delivering significantly lower costs per transaction for dealers, compared to traditional card payments,” said Daniel Christie, Bumper’s Head of Sales.

“By integrating with existing dealership ecosystems, it brings together all our payment options in a more efficient way for retailers using the Pinewood Automotive Intelligence Platform, enabling them to offer customers more choice when paying their bills,” he said.

Commenting on the rollout Kim Costello, Global Chief Marketing Officer at Pinewood.AI said: “We’re delighted with this latest integration with Bumper, following the completion of a successful pilot at the beginning of the year.

“Offering Bumper’s Pay by Bank directly on Pinewood.AI will help streamline retailer processes by avoiding the need for them to work across different systems.

“The integration is already delivering the convenience of an open banking option for car owners, while helping our retailer clients cut administration time and reduce transaction costs.”

Pinewood.AI has confirmed it is currently working on its next integration with Bumper: PayPad. This powerful solution will enable dealers partnered with Pinewood.AI a unified payment experience, enabling them to process every type of transaction through Bumper, including in-store PoS payments, remote card transactions, secure bank-to-bank transfers and flexible Buy Now, Pay Later options.