Alastair Shephard

Content Writer

Alastair Shephard | Author

By the end of the decade, open banking is set to become the dominant form of payment in car retailing. Low transaction fees and reduced exposure to fraudulent card transactions will benefit dealers greatly. 

Rather than relying on debit or credit cards issued by a third party, open banking allows customers to pay directly from their personal account into a dealer’s account. 

According to the Open Banking Implementation Entity, a standards body set up by the UK’s largest banks, the UK has seen exponential growth of open banking in recent times with 4.5 million regular users across all retail sectors and 1 million new users added every six months. 

James Jackson, CEO and co-founder of Bumper said, “Customer transactions are already being transformed by open banking across other retail sectors. Because of the high invoice values associated with automotive, we anticipate it becoming the dominant form of payment in dealerships by the end of the decade.” 

“Car buyers using open banking can make their payments online in a matter of seconds using just their bank account credentials. Also, because these payments require bank authentication within a customer’s banking app, it makes fraud significantly harder, giving a greater layer of protection to dealers. 

“While dealers offering open banking can expect to see their transaction costs halve by the removal of hefty fees associated with card payments. Other benefits include more secure digital payments, minimising dealers’ exposure to fraud, and full GDPR compliance.” 

“Open banking offers a solution that better meets the changing needs of customers looking for more convenient and smarter digital alternatives to cards.” 

“The addition of open banking further expands our suite of digital payment options, sitting alongside Pay Now and Pay Later, enabling dealers to offer customers the payment option that works best for their personal finances,” said Jackson. 

We expect dealers will offer the option of open banking for customers making large deposits, after-sales bills, GAP insurance and extended warranties. 

Starting this month, Bumper offers dealers an open banking facility, fully integrated with REALtime communications. 

To find out more, contact our sales team via 

Open banking set to be dominant form of payment in car retailing by 2030 

The research team at Bumper recently carried out a survey of 2,250 UK drivers over the age of 18 to find out how much they had spent on vehicle repairs in the last 12 months.

The survey found that 78% of drivers needed at least one tyre replacement over the past 12 months. The regions with the most replacements necessaries were:

 of their replacements was £121. According to National Travel Survey there are approximately 35.9 million UK license holders, which means an estimated £3.4bn has been spent on 

When asked if the cost was more or less than expected, 38% found the cost was more than expected, 41% said it was as expected, and 21% found the repairs to be less than expected. 

Bumper, CEO and Co-Founder, James Jackson said, ‘When it comes to the cost of maintaining a vehicle, our minds often just go to well-known expenses like petrol, insurance and MOTs. This research highlights the real cost to drivers is tyre replacements, highlighting that drivers in the North West need their tyres replacing more than anywhere else in the UK. 

‘It’s really important to keep an eye on your tyres to increase their longevity, by 

 and wheel alignment of your tyres, as well as by rotating tyres often. If an unexpected tyre replacement bill surprises you, you should be aware of the many different payment offers to help you manage the added expense, such as Bumper.’ 

Bumper is an interest-free payment option for repairs at garages and dealerships. Customers can apply online before their booking and get approved for up to £5,000.

UK motorists collectively spend £3bn on tyre replacements 

Bumper has appointed Nick Squire as International Sales and Partnerships Manager. 

Nick will be responsible for strengthening Bumper’s position in Germany and Spain, as well as managing our expansion into further European markets. 

In his previous role, Squire headed up European and Global autoVHC programmes. With 20 years' experience in the automotive sector, starting as general sales manager at Ilkeston Co-op Motor Group, Nick is the perfect choice to lead Bumper as it takes its next steps into Europe. 

CCO and co-founder, Jack Allman, said, ‘We’re delighted to welcome Nick Squire to our fast-expanding team to spearhead Bumper’s ambitious growth plans across key European automotive retailing markets. 

‘Nick brings a wealth of experience to this new position having worked in the UK and international dealer sectors, including many of the markets we are targeting.’ 

Nick Squire said, ‘I’m delighted to be joining Bumper at the beginning of its exciting international journey and introduce new dealer products into new markets. 

‘There is a huge opportunity to grow Bumper into Europe. Having worked extensively in Germany and Spain my initial focus will be to grow sales in these markets and build partnerships with key strategic partners, OEMs and dealer groups.’ 

 is an interest-free monthly payment option for aftersales purchases. Applications are processed online in just a few clicks and customers receive an instant decision. 

To find out how Bumper can transform your aftersales department contact our sales team using the 

Bumper appoints International Sales and Partnerships Manager 

The cost-of-living crisis is having an enormous impact on the way many of us live our lives. A recent survey by 

 found that the way we drive is no exception. Of the 2,000 surveyed, 69% said they had significantly changed the way they drive since the beginning of the year. 

To make a saving on fuel costs, drivers are significantly reducing the number of journeys they make in their vehicles. 35% of drivers said they had cut down on the number of journeys they make. 

40% of petrol drivers had cut down since the start of 2022, with only 22% of electric and hybrid drivers cutting down. 

Electric and hybrid vehicles are well-known to be cheaper to run. This survey found that of the electric and hybrid owners 17% had switched from a vehicle using an internal combustion engine to keep costs down, whilst 4% had sold their vehicle without replacing it. Hybrid vehicles are built to last longer as well, so you don't have as many expensive repairs to keep up with, like 

hybrid batteries which can last up to 11 years

21% of drivers said they now drive more smoothly and try to avoid harsh braking and 14% were now driving slower than they were at the start of the year to conserve fuel. 

It was discovered 1 in 10 motorists were now regularly checking their tire pressure and 11% had taken unnecessary items from their vehicle in a bid to make it lighter on the road. 

The cost-of-living hike has had a big impact on motorists. Luckily, Bumper has a solution. Our digital PayLater solution allows customers to split the cost of repairs, at no extra cost. 

Applications are completed online in just a few clicks. Plus, our proprietary AI-enabled lending software allows us to make real-time, responsible lending decisions in less than 5 seconds. 

For more information about how Bumper can transform your customer experience, 

Motorists change driving habits due to cost of living

Bumper joined National Park Rangers in woodland near Calver for a unique day of volunteering. The team worked together to collect hundreds of vintage glass bottles and ceramics that were found when the site was recently cleared due to Ash Dieback Disease. It's believed that the area was on the site of an old Victorian tip.

The Team found old Heinz bottles and Bovril glasses. Items that looked of interest were sent to archaeologists for analysis.

It was important for the team to clear this glass to protect the safety of the wildlife and members of the public with four-legged friends who enjoy what the Peak District has to offer. Glass can also be a wildfire hazard as heat from the sun can cause devastating damage.

The Team was extremely efficient and filled all the containers before the proposed finished time – this was probably propelled by a meal booked in the local pub after!

Bumper is supporting the Foundation after signing up for its Peak Partner scheme, which allows businesses to care for the National Park while meeting their Corporate Social Responsibility goals.

 said: “The Peak District National Park is an incredible area, right on the doorstep of our Sheffield office.

“This partnership allows us to work closely with an amazing local organisation, but also to have a positive impact on the environment. Here at Bumper, our corporate social responsibility has always been a priority for us. Working in the automotive industry, we’re acutely aware of the progress our industry needs to make toward solving the climate crisis and we know we need to be doing all we can to support this.

“We’re proud residents of Sheffield and love the area surrounding our office there. The Peak District National Park Foundation not only works to conserve the environment but is also a great asset for Sheffield.

Becoming a Peak Partner was a no brainer for us, and we’re thrilled to be working with the Foundation. We really enjoyed our day clearing the woodland, meeting the staff who work in the National Park and talking about our CSR goals.”

The Foundation’s fundraising development officer Claire Barlow said: “We’re delighted to welcome Bumper as a Gold Peak Partner. It was great to meet the team out in the Peak District, we’d like to say a huge thank you to them for their help and look forward to working with them in the future.”

The Peak District National Park Foundation

The Foundation is an independent charity that cares for the Peak District National Park. Its aim is to work towards a Peak District that is conserved and enjoyed by everyone. It funds projects that care for the landscape and wildlife in the park, help fight climate change, and connect people from all backgrounds and situations to nature and the outdoors.

Bumper volunteers with Peak District National Park

Team Bumper attended the first Motortec Madrid 2022 event following the COVID-19 pandemic. 

The event, held annually, is one of the largest Automotive industry events in Europe. Described as a space for industry experts and innovators to exchange knowledge and best practices, Motortec sees over 700 companies exhibit annually. 

Across four days, Bumper showcased their interest-free monthly payments for after-sales invoices. A digital solution that allows customers at dealerships and garages to apply for finance in just a few clicks.

Co-founder, Jack Allman said, "Motortec Madrid marks the start of Bumper's expansion into the Spanish market. With a widely established presence in the UK and a recent launch into Germany, we're in a strong position to expand in Spain.

“Our talented and experienced sales team are engaging with dealerships and garages here in Spain about how Bumper can drive increased sales volume and maintain high levels of customer satisfaction”.

Team Bumper received an exciting reaction to their innovative solution at Motortec and has secured many connections to propel them further into the Spanish market. 

Founded in 2013, Bumper provides an interest-free digital payment platform for vehicle repairs and services, enabling owners to spread their costs. It also delivers an instalment financing solution using proprietary AI-enabled technology to facilitate real-time lending decisions.

Bumper enables dealerships and garages to sell a larger proportion of red and amber work, reducing workshop downtime, with no risks or liabilities, while also creating greater customer loyalty.

Named 21st fastest-growing fintech in the 2022 FT1000 rankings of Europe’s fastest-growing companies, Bumper works with over 3,000 dealerships and garages across the UK and the Republic of Ireland, helping over 160,000 drivers to fund their servicing and repair bills.

Bumper operates from the UK, Spain and Germany.

For more information on how Bumper can grow your aftersales volume contact our sales team at sales@bumper.co.uk. 

Team Bumper attend Motortec Madrid 2022

Bumper has launched its digital payment platform for car repairs, servicing and add-ons in Germany.

This marks UK-based Bumper’s debut in continental Europe, following last year’s launch in Ireland, and is part of an expansion plan which will shortly see it roll out across other key European markets.

The service is launching with D+S Automobile, one of Germany’s most prominent Jaguar Land Rover retailers, following the recent Series A funding investment in Bumper by JLR’s InMotion Ventures investment arm.

“We’re delighted to partner with D+S Automobile and offer its customers access to our portfolio of interest-free Buy Now, Pay Later (BNPL) and PayNow services,” said 

“As Europe’s biggest automotive market, Germany will play a pivotal role in the growth of Bumper across the continent.

 on German roads has increased to 9.8 years and is likely to continue to rise with the ongoing disruption of new car supplies. As these vehicles age the risk of major repairs becoming necessary also increases. 

“Our team in Germany is already talking to dealers and OEMs about how the Bumper platform is helping workshops in the UK and Ireland take the pain out of servicing and repair bills, prompting customers to authorise more work and building loyalty and satisfaction,” said Allman.

The international expansion follows the Financial Times ranking Bumper as one of Europe’s fastest-growing companies in the 

Bumper launches digital payment platform in Germany

 has significantly expanded its executive team with four new appointments as the fast-growing business prepares the next stage of its growth in automotive payments.

All four bring a wealth of experience from some of the UK’s leading, FinTech disruptors, tech unicorns and financial services businesses and take up newly created positions within the business following the completion of its Series A funding round in December.

“We’re delighted to welcome Francisca Gutierrez, Leah Ellis, 

 and Matt Williams to the expanded executive team,” said James Jackson, CEO and co-founder, Bumper. 

“They’re all super talented and highly regarded in their respective fields with collective experience in FinTech and fast-growing disruptive start-ups, which will help us achieve our ambitious growth strategy as we increase our share of digital payments and Buy Now Pay Later (BNPL) in the UK and across Europe,” he said.

Francisca Gutierrez has been appointed chief product officer, joining the company from Experian where she served as domain leader and senior product manager. 

Gutierrez is managing the international launch of the Bumper platform into continental Europe, starting with Germany, followed by Spain, then Netherlands and Portugal. She is also leading the development of a new white-label customer app which will be offered by dealer groups to help improve aftersales retention. 

Paul Edgecombe has joined as chief compliance officer from Selina Finance, where he was head of risk and compliance. Edgecombe has worked in compliance across FinTechs as well as challenger and high street banks, with senior roles at Barclays, Santander and Harrods Bank.

He will be responsible for implementing and managing Bumper’s compliance programme, ahead of the introduction of new regulatory rules in the BNPL market. He will also oversee the extended regulatory compliance as Bumper launches into new territories.

Matt Williams joins in February as chief growth officer from Trainline, where he was head of growth technology, prior to which he was strategic analytics director with Jellyfish and head of analytics and optimisation at Rightmove.

A specialist in analytics and marketing, part of his remit will be to lead an expanded team of marketeers to grow Bumper’s B2C proposition.

 has joined as interim chief people officer having amassed considerable experience in managing staff growth at tech start-ups, most recently at Goodlord, the property lettings platform, and Eve Sleep, the online sleep brand. 

She will manage the rapid employee growth Bumper is planning, which will take its headcount from 40 to over 100 staff within the next 12 months.

Bumper expands executive team with all-star appointments, as it ramps up growth plans

Industry news and key updates affecting drivers and dealers.

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