Customer story: Toomey Motor Group
The Toomey Motor Group – a leading car dealership across Essex – has embraced Open Banking or ‘Pay by Bank’ to streamline the payment journey for business and customer alike.
The challenge of cards and transfers
Having sold cars, bikes, parts and servicing since 1932, Toomey are pretty experienced with using traditional payment systems such as cards and bank transfers. However, the limitations of these methods can be a challenge, such as cost, speed and out-of-hours confirmation.
With Payit’s ‘Pay by Bank’ technology combined with our partner Prommt, Toomey is enjoying lower transaction costs, instant payments* and real-time payment status. This is obviously great news for Toomey, but it also streamlines the sales process for the customer – meaning fewer payment potholes and more time for smooth driving experiences.
*In the majority of cases, payment will be near-instantaneous thanks to the Faster Payments Service. However, banks may retain certain payments for additional checks. If approved, payments are guaranteed to arrive within 2 hours.
Payit supports the business
Big ticket confidence
For Toomey to release a car, they need to be sure the money has arrived and with Payit’s real-time payment confirmation that’s assured for both parties.
Earn trust with Prommt
Our partnership with Prommt meant Toomey could offer customers a fully branded and secure payment journey. Customers can feel reassured and confident seeing the Toomey brand present throughout.
Keep costs down
With Payit, transaction costs are a fraction of the equivalent card fees, meaning you’re benefiting both operationally and financially.
Payit supports customers
Empowering buyer choice
Adding Pay by Bank to existing payment methods demonstrates future-thinking while still retaining older methods. Toomey saw constant growth in Open Banking payments, giving customers what they wanted.
Accelerating payment ease
Pay by Bank utilises customers’ own banking app – transactions are familiar, quick and simple. No financial details to share or get wrong, just a few confident clicks and the money moves.
Providing trust & security
Customers can be confident they’re in good hands – Open Banking’s FCA regulated and Payit comes from a high street brand (NatWest). Plus, no need to share bank/card details, so security is baked in.
Outcome
By using Payit by NatWest and our partner Prommt, Toomey has streamlined their payments process. They’ve removed headaches for themselves, and delivered choice, speed and simplicity for their customers.
[Payit is] making it quicker and easier for everybody – us and our customers.
Wesley ThorneToomey Motor GroupBrand Manager
The customer journey has been improved… ten-fold.
Gary RumsbyToomey Motor GroupBrand Manager
Eligibility
You will need to sign up to Payit terms and conditions and you may need to hold an account with us. Your business must be based and trading in the UK with a turnover above £2m. You must be 18 years or older. Fees apply.