Electronic Payment Processing Solution aids automobile retailers.
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Press Release Summary:
ReyPAY enables dealers to offer consumers secure payment options in-store, online, over phone, and on mobile devices using such applications as Apple Pay. Simultaneously, solution promotes efficiency and effectiveness of dealership personnel who process payment transactions. Secured credit transactions are ensured via point-to-point encryption, and functionality eliminates duplicate data input. Back-end payment processing for ReyPAY will be handled by OpenEdge.
Original Press Release:
Reynolds Announces Launch of ReyPAY, a Secure Electronic Payment Solution for Automobile Retailers
New Payment Solution Can Help Increase Dealership Efficiency, Improve Customer Satisfaction, and Offer More Secure Transactions
DAYTON, Ohio -- The Reynolds and Reynolds Company today announced the launch of ReyPAY, a new electronic payment processing solution for automobile retailers. Reynolds will add ReyPAY capabilities across dealership departments.
With ReyPAY, dealers can offer consumers more convenient, secure payment options in-store, online, over the phone, and on mobile devices using applications such as Apple Pay. At the same time, ReyPAY improves efficiency and effectiveness of dealership personnel who process payment transactions.
"Prominent among the pressures influencing how automobile retailers sell cars and serve their customers are changing consumer expectations, the growth of mobile devices, and increased regulatory scrutiny," said Jon Strawsburg, vice president of Product Planning for Reynolds. "We developed ReyPAY with all of these factors in mind. This new payment solution helps dealers deliver a more consistent, smoother retail experience to consumers and also helps dealers operate more effectively and efficiently."
ReyPAY is designed to deliver a number of benefits to dealers:
--Â Improved customer satisfaction by allowing dealers to offer a variety of payment options, including the convenience and efficiency of electronic payments.
--Â Increased efficiency and relief of bottlenecks in the dealership's cashier area, especially in service and parts.
--Â Reduced processing errors in the dealership by eliminating duplicate data input and increased productivity for dealership personnel.
--Â Secured credit transactions with point-to-point encryption that meets new credit processing rules and adds safeguards for consumers' personal data.
Strawsburg added, "With new rules on protecting credit card transactions set to take effect later in 2015, dealers and other retailers will be moving from older credit card processing technologies to newer, safer, and more effective ones. We've designed ReyPAY to take advantage of newer technology to improve customer satisfaction and operational efficiency."
Strawsburg noted that back-end payment processing for ReyPAY will be handled by OpenEdge, the Integrated Solutions division of Global Payments Inc. (NYSE: GPN). Reynolds and Global Payments first announced their payment solutions partnership in May 2014. (Read the news release.)
For more information, visit www.reyrey.com/reypay.
About Reynolds
Reynolds and Reynolds is a leading provider of automobile dealership software, services, and forms to help dealerships deliver better business results and transform the customer experience. The company is headquartered in Dayton, Ohio, with major operations in Houston and College Station, Texas, and Celina, Ohio. (www.reyrey.com)
CONTACT: Thomas Schwartz, 937.485.8109 (office), 937.269.9569 (mobile), Thomas_Schwartz@reyrey.com
