GPS tracking solutions provider Skypatrol rolled out what it dubbed Remote Auto Payment for vehicle finance companies and buy-here, pay-here dealers through the Skypatrol mobile app.

The company highlighted borrowers will now be able to pay on their vehicle installment contracts remotely using either online banking or with cash at local authorized retail stores.  Skypatrol insisted that it created another way to increase the value of it award winning Defender software platform by offering tools to improve the profitability of their customers.  

Now, with Skypatrol’s Remote Auto Payment feature, borrowers in the U.S. can take cash payments to a neighborhood 7-Eleven, ACE Cash Express or other authorized retail stores where the clerk will accept the cash and initiate a virtually instant payment transfer.  ACE is one of the largest owners and operators of check cashing stores in the United States and 7‑Eleven is one of the largest chains in the convenience retailing industry with more than 57,000 locations globally. 

To make a remote payment through either retailer, the finance company or BHPH operator sends a PayCode via email, SMS text or on a printed card.

Remote Auto Payment also includes a recurring billing system through a secure, cloud-based payment platform that enables consumer payments by using a credit card or debit card.  The system allows operators to set up a billing program that is customizable for individualized payment schedules whether they are monthly, bi-weekly or weekly. 

BHPH operators can operate in a card not present environment streamlining payment acceptance by leveraging automation.  Through tokenization, consumer payment information is stored in a PCI compliant environment.

“Skypatrol is keenly focused on providing software tools that improve the relationship between lenders and borrowers,” Skypatrol chief executive officer Robert Rubin said.  “By having solutions such as Remote Auto Payment, we facilitate on-time payments on behalf of our lender customers while simultaneously making the process more customer-friendly for the borrowers. 

“And because borrowers can pay with a credit card, debit card or cash, geography is no longer a boundary and will certainly improve lender cash flow,” Rubin continued. “This is yet another productivity and profitability tool that has been added to the Defender platform and provided at no cost to our lender customers.” 

J.D. Byrider franchise operations director Jimmy Lee described what Skypatrol’s new mobile app capabilities could mean for BHPH customers.

“Giving our customers the ability to make cash payments from thousands of retail locations or via online accounts from literally anywhere has obvious value,” Lee said.

“We see the potential for improved cash flow and fewer customer interaction issues by removing barriers to payments,” he went on to say.

For more information, visit www.skypatrol.com.