REPAY
REPAY describes itself as payment technology that helps businesses pay and get paid from a single platform, with inbound and outbound payments and integrated solutions. It is not automotive-specific; its pages cover B2B and mortgage among other industries.
REPAY: Payment Acceptance
Its homepage lists payment acceptance, vendor payment automation, clearing and settlement, messaging management and simplified bill pay.
| Product or service | Function |
|---|---|
| Payment Acceptance | Flexible payment options integrated with existing software. |
| Vendor Payment Automation | Digitizing payments to vendors and suppliers. |
| Clearing and Settlement | Back-end payment processing. |
| Messaging Management | Communications around payments. |
| Bill pay | Simplified bill payment. |
Incoming customer payments and outgoing supplier payments
REPAY separates Payment Acceptance from Vendor Payment Automation, Clearing and Settlement, Instant Funding and Messaging Management. Its industry list includes both automotive and consumer finance. repay.com
That distinction helps identify the buyer's actual payment flow: collecting a customer balance is different from paying a supplier invoice or reconciling a settlement. In a dealership evaluation, follow one transaction from the initiating account through the recorded payment and final accounting reference. repay.com
Also identify who receives the customer-facing confirmation. A payment integration can accept the money successfully while still requiring separate setup for reconciliation or outgoing supplier payments. repay.com