MOUNTAIN VIEW, CALIFORNIA – (COMMERCIAL THREAD) –Facepay Inc. announces its new FacepayCapital offer immediately available for all auto repair shops on its platform. This product comes at a unique time when auto stores are grappling with increasing demand due to the ongoing pandemic. FacepayCapital provides access to funds needed for staffing, diagnostic services, training, and other short-term upgrades. Customers who use Facepay tend to have better cash flow and therefore are more likely to get loans or lines of credit approved quickly. With FacepayCapital, they can apply for a loan directly from the product, saving them time and paperwork.
Facepay is already helping auto repair shops increase profits, on average $ 25,000 per year. Auto repair shops’ adoption of Facepay is accelerating as they roll out Facepay to convert customers from credit card payment to direct payment. This is happening as the repair industry grapples with an historic increase in credit card prices for all full-service and discount card processors. Facepay offers customer conversion tools to facilitate this change. According to Dr. Mark Hale, founder of Facepay, “Facepay integrates with all management systems and, when deployed with the workflow, auto repair shops can immediately see up to 40% conversion in direct bank payments. This technology is already available in consumer applications used by half of the population. He goes on to say that “the bottom line is immediate because this money goes directly to the bottom line.”
Facepay now offers FacepayCapital, which allows repair shops to access term loans and lines of credit for develop their business. Owners have never been so busy amid the demand for used car repairs driven by the emerging pandemic duality of tight purchasing power and the availability of new vehicles. FacepayCapital presents several offers from top-notch lenders. This capability is built right into the Facepay platform as a one-stop-shop for the acquisition, subscription, origination and integration that is required to access the necessary cash, and is powered by Loan flow, the leading platform for integrated loans. Todd Westerlund, a 30-year industry veteran and Head of Revenue for Facepay, has worked with the industry on this product. He states that “FacepayCapital’s timing couldn’t be better as auto repair shops need access to funds to grow in 2022. Achieving these upgrades is paramount to ensuring the shop’s success and maintain high customer satisfaction. He’s a game changer.
the innovation of FacepayCapital is that because these stores use Facepay, the stores free up money to pay off the loans or credits they need. So they truly grow their business with the money they saved by eliminating credit card fees. This is a favorable position with lenders, which increases access to more advantageous loan offers. There is no charge for using FacepayCapital beyond the terms of service of the loan or line of credit. This is a disruption of the credit card processor oligopoly that charges businesses a fee and is becoming a growing problem as rates are expected to rise.
Bill Adams of Adams Autoworx and Adopter of Facepay is clear he can leverage the new offering to grow his business. Bill says “having quick access to capital allows us to take advantage of opportunities that we should have passed on before FacepayCapital”. The combination of significant savings on credit card fees and quick access to capital is a game-changer for auto repair shops struggling to meet customer demand and increased competition. Facepay provides both.
Todd Westerlund will host a one-hour webinar on Thursday, December 16 at 9 a.m. (PST) / noon EST with a panel of experts on the topic of growing your business in 2022. Panelists include Kim Hickey, Automotive Training Institute; Ryan Burton, CEO of LeadsNearMe; Monique Mondragon, Shop-Ware; and Brittany Schindler, Advanced Facepay User and Managing Director of Rod’s Japanese Auto Care Inc. Webinar registration is now open at www.facepay.io.
FacepayCapital is now available to all professional customers on our relationship payment platform subscription plan. If you would like a demo, please visit www.facepay.io or call (800) 403-0221.
About Facepay
The Facepay relationship payments platform that helps business owners dramatically increase profits by eliminating credit card processing (transaction) fees.
Facepay’s disruptive technology allows auto store owners to adopt a modern payment structure with a low-cost fixed monthly subscription as an alternative to paying about 2.5% of their income to credit card processors. Facepay works with all management systems and our easy to use dashboard is used in your existing workflow. On average in American auto repair shops, the Facepay model adds $ 25,000 to the bottom line each year.
Facepay also allows repair shops to offer their customers several payment options, including contactless payments, monthly installments, and service subscription plans.
For more information or to schedule a demo, visit www.facepay.io or call (800) 403-0221.
About Lendflow
Loan flow provides an integrated financial infrastructure for vertical SaaS platforms. Combining a large marketplace, contextual product placements, and powerful data services that include aggregation, orchestration, decision-making, monitoring, and standardization, Lendflow enables every technology platform to create, improve or integrate financial products into their ecosystems. With Lendflow, SaaS platforms increase customer engagement and retention, lenders can extend their reach and increase operational efficiency, and SMEs can quickly access capital to fuel their growth.
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