Warrantywise has become the first warranty provider to adopt the iVendi Pay dealer payments solution, launched last month.
The deal means car and van retailers selling warranty plans can offer customers an interest free buy now, pay later option with no upfront payment over up to 24 months – with the new platform making the process easy to administer.
Antony Diggins, managing director at Warrantywise, said: “Working with iVendi means we can offer dealers a fluid payment journey for warranties that integrates seamlessly into the vehicle sale at the point of purchase.
“Payments can be set up quickly and then handled automatically in the background through platforms that dealers already use, supporting a smoother overall transaction and a more professional customer experience.
“Importantly, it also reflects how customers want to buy today. More and more people expect the option to pay monthly, and our partnership with iVendi gives dealers a practical way to offer payment flexibility to support stronger warranty uptake.”
iVendi Pay was created with the aim of removing multiple points of friction often encountered by dealers and their customers when taking payments.
James Tew, CEO at iVendi, said: “When it comes to creating a seamless vehicle sales journey, payments remain one of the last areas of difficulty. iVendi Pay embeds into existing digital processes, giving dealers complete control and instant visibility while reducing administration and offering customers a transparent payment experience.”
One of the key uses envisaged for the product was to help power warranty and other value-added product sales, he added, aiding not just affordability by offering affordable finance but making the sales and payment process as simple as possible.
“Our new partnership with Warrantywise underlines the effectiveness of the iVendi Pay concept. It enables dealers to sell more VAPs with greater ease, while processing of the product sale and regular payments requires almost no human intervention.”
Founded in 2000, Warrantywise has provided warranty plans for more than one million customers in the UK.
