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Tuesday, 14 January 2020 21:22

UpdatePromise Announces UpdatePromisE-Pay Financing

UpdatePromise announces their debut into the service and repair financing space with its new UpdatePromisE-Pay financing option.

The soon-to-be-launched finance feature provides auto dealers, collision centers and auto repair centers simple and affordable financing options for their customers’ vehicle service and repair needs.

 

Within a month of pilot testing, a discovery in dealerships using UpdatePromise showed an increase, as much as, $85,000 in service repair up-sells. “Proving a higher adoption rate of consumers taking advantage of financing options when offered in a non-invasive manner through automation and at the right time throughout the consumer experience lifecycle,” stated Curtis Nixon, the president and CEO of UpdatePromise.

 

The SaaS Company’s findings are backed by data from a recent article published by McKinsey and Company, where the point of sale installment lending balances is forecasted to exceed $100 billion in 2019. The source continues to state that the biggest growth sector to benefit from this new wave of financing options is in the small ticket purchase between $200 and $300, where it is expected to see growth of more than 40 to 50 percent.

 

UpdatePromise is the first in the market to include financing solutions within its consumer experience solution. The evoking solution is set to launch in February of 2020. For more information on the program email info@corp.updatepromise.com.

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