FIS chosen as exclusive payment processing provider for Reynolds
FIS and Reynolds and Reynolds now are working together through a multi-year agreement the companies recently finalized to help dealerships with accounting chores and more.
According to a news release, FIS has been selected as the exclusive payments provider for Reynolds and Reynolds, a leading provider of dealership software, documents and professional services.
The agreement means Worldpay from FIS has assumed all payment processing activities for Reynolds and Reynolds’ integrated payment solution, ReyPAY, which can provide fast, convenient and contactless payment options for dealerships and their customers.
Officials said ReyPAY will now have Worldpay’s cloud-based data security and dynamic reporting to better manage payment operations.
Through the new Worldpay partnership, Reynolds and Reynolds dealership customers also can benefit from new accounting capabilities, including the ability to more efficiently manage the payables process, further streamlining payment and reconciliation processes.
“ReyPAY is an integral part of the Reynolds Retail Management System and delivering the type of overall consumer experience that our dealership customers want to deliver,” said Jon Strawsburg, vice president of product management for Reynolds and Reynolds.
“We have a lot of confidence in Worldpay’s innovation and vision for the future,” Strawsburg continued. “It’s the type of partnership that we’re confident can lead to operational excellence and accelerate time-to-revenue for dealers, as well as be a major convenience for their customers.”
Dan Brames, head of North America and international merchant solutions at FIS, added, “Working with Reynolds and Reynolds, we are able to deliver smarter payment experiences for automotive dealerships and their customers in a secure and seamless way.
“Reynolds and Reynolds has a long history of excellence in the automotive industry, and we look forward to working collectively to help modernize dealers’ everyday operations with advanced payments and accounting processes,” Brames went on to say.