What is Integrated Payment Processing for Auto Shops?

Integrated payment processing is a modern way to seamlessly accept different types of payments from customers and streamline accounting for your auto shop. Not only does this help your shop to get paid faster for the work you’ve done on vehicles, but it saves you time and money reconciling the books — helping you to focus more on your customers and growing your business.

How Integrated Payments Can Get You Paid Faster and Save Your Auto Shop Around $560 per Month 

Our clients who are fully utilizing Shopmonkey’s integrated payments are saving time and money while up-leveling their customer experience through convenient payments. Think about how the following would impact your shop:

Get paid on time by offering your customers multiple ways to pay including online payments

Powered by Stripe, Shopmonkey Payments offers multiple ways for you to accept and process customer payments so that your customers can choose their preferred method. In addition to in-person point-of-sale transactions by card or Apple Pay/Google Pay, integrated payments also offer auto shops the ability to accept payments by text-to-pay or emailed invoices. This means you can send invoices from our all-in-one auto repair software straight to your customers anytime and get paid, day or night. Survey data suggests that when it comes to paying bills, consumers value ease, convenience, and speed* — and more than 50% are willing to pay an extra fee for a service like digital bill pay.

When customers can pay with a method that is convenient for them, they’re more likely to pay on time. Not only does this ensure your team isn’t wasting time chasing customers with invoices, but it also allows for a healthy cash flow for the shop month-over-month. 

Plus, integrated processing creates visibility and makes tracking easy, allowing you to provide customers with detailed insight into their purchase history. Imagine one of your customers coming in for an oil change and asking, “When was the last time I purchased tires through you guys?” With Shopmonkey’s modern integrated payments, you’ll be able to quickly pull up the answer, allowing you to offer the best experience possible when customers come to you with questions like these.

Turn bookkeeping into an easy task

Once paid, invoices will automatically push to your QuickBooks account, saving you time on manual bookkeeping by eliminating double entries. Our clients tell us that this easily saves them around four hours a week in accounting. If bookkeeping services cost around $35 an hour, for example, integrated payments could provide a monthly savings of $560!

Protect your business from losing thousands of dollars through risk management services

Shopmonkey customers love our Risk Management team and the services they provide when you sign up for Shopmonkey Payments. These experienced specialists can assist you in gathering and submitting the information needed to fight a chargeback, customer dispute, or fraud — while eliminating the need to get your processor or bank involved for help. Plus, our payment support specialists can be easily reached through the Shopmonkey app for any questions or troubleshooting.

  • Real risk save example: a Florida-based Shopmonkey customer is saved from losing $3,792.58. Here’s how:

    1. The shop processed a sale.

    2. Shopmonkey’s Risk Management team noticed multiple red flags on the transaction including multiple payment declines, a Nigeria IP address, a shipping address in New Jersey, and a billing address in North Carolina.

    3. Shopmonkey’s Risk Management team called the customer to alert them to a fraud scenario.

    4. After speaking to the shop about best practices for risk mitigation, the shop decided to reverse the transaction and not ship any items due to the elevated risk of fraud and a dispute. 

Learn More About Shopmonkey’s Integrated Payments

You only pay for what you process. There are no hidden fees, and Shopmonkey offers competitive rates. We would love to chat with you and answer any of your payment-related questions!

If you are new to Shopmonkey, schedule a demo to see how Shopmonkey Payments works in our end-to-end shop management solution.

Current customers, please contact your account manager or send us an email at payments@shopmoney.io to get the conversation started.

*Source: https://www.pymnts.com/consumer-finance/2022/the-data-point-consumers-highly-interested-in-digital-bill-pay-will-pay-for-the-service