Self-Service Channels and Payment Processing Integration Reduce Collection Timeframes and Improve Efficiencies for Buy Here–Pay Here Dealers
NABD National Conference of Buy Here-Pay Here Dealers
GAITHERSBURG, Md.--(BUSINESS WIRE)--PaymentVision, an expert in electronic payment processing technology for the Buy Here-Pay Here (BHPH) industry, today announced the release and successful use of its fully integrated offering for AMS2000 by Auto Master, one of the leading providers of receivables management software for the auto loan servicing industry. C & G Imports, a BHPH dealer in Arlington, VA was among the first to implement the integrated solution.
“We believe this integration offers users a range of new features designed to streamline accounts receivables management processes and boost collection activity.”
"PaymentVision and Auto Master have taken what used to be a two-step process with a card terminal and made it a one-step simple process initiated from within my dealer management software,” Gavin Marks: President of C & G Imports.
BHPH dealers already rely on Auto Master for comprehensive Accounts Receivables Management, collector productivity tools and loan closing workflow. As a result, the Auto Master system provides the technical infrastructure vital for the self-financing dealer.
"By tightly integrating electronic payment processing with the core Auto Master System, we can help our dealers save five minutes in staff time per payment transaction," said Brian Hoppel, Vice President of Auto Master. "In addition, PaymentVision is able to support our clients with faster funding and a higher level of security."
PaymentVision security includes managing financial account data through the use of tokenization. With tokenization, financial account data is never stored on the dealer’s system. It is passed directly to PaymentVision where it is securely stored in a payment vault. PaymentVision, in turn, provides a randomly generated, totally unique ID number (the token) which can be used to initiate future payments using the same financial account information. The PaymentVision platform is PCI DSS Level 1 compliant, which is the highest level of compliance available.
Highlights of PaymentVision payment processing include:
"We are pleased to announce the availability of PaymentVision processing for Auto Master AMS2000, which will deliver their clients real-time authorization, faster funds and greater security," said Christopher McClinton: Vice President of Sales, PaymentVision. "We believe this integration offers users a range of new features designed to streamline accounts receivables management processes and boost collection activity."
PaymentVision will be exhibiting in Booth 332 at the 2010 NABD National Conference of Buy Here-Pay Here Dealers, Tuesday, May 11 - Thursday, May 13, in Las Vegas, Nevada.
About PaymentVision Gateway Svcs
PaymentVision is a biller direct electronic payment service provider and payment gateway that offers clients the ability to accept ACH and credit or debit card payments by phone or online. PaymentVision also partners with key software providers in targeted vertical markets to provide payment processing via the PayAPI, a SOAP-based XML web service. For more information, visitwww.paymentvision.com.
About Auto Master Systems
Auto Master Systems, Inc. has been the leader in software development for the BHPH community for over twenty years. They offer a product that encompasses all aspects of dealership and finance company operations ranging from credit scoring through accounting integration. Auto Master Systems prides itself on its ability to integrate with third party companies to offer the best and latest technology to its customers. For more information visit www.auto-master.com.