CrossCheck Blog

CrossCheck's ACH Pay-by-Link with Guarantee is the convenient payment solution for any business. Frictionless payments via email or text will also enable merchants to set up payments with tokenization, meaning customers only have to enter their information once. With credit card fees at high rates, checking accounts are still often the preferred method of payment, and our ACH Pay-by-Link is a superior, easy way to save customers from credit card interest rates, and save the merchant from high credit card fees. Once customers get the ACH Pay-by-Link as a text or email, they can enter their info on a phone or tablet and CrossCheck will handle the rest.

This year’s NADA conference offered many welcome perspectives – not the least of which was that we were all in attendance again as COVID restrictions lifted. But perhaps the most significant was how increasingly important it is becoming for manufacturers and dealers alike to keep up with the electrical revolution of the automobile industry.

The 2022 NADA (National Automobile Dealership Association) conference in Las Vegas is in full swing and CrossCheck is there to offer payment solutions to dealers and customers alike. Those in attendance should visit our booth (4358W) to get in-person information on how our products and services can facilitate and complete sales.

According to a recent survey by LendingClub and PYMNTS, 61 percent of Americans report that they are living paycheck to paycheck. Perhaps the most astounding statistic to come out of the survey, however, is the fact that 48 percent of respondents making $100,000 or more also say they live paycheck to paycheck.

There are several factors to suggest prices for both new and used cars will continue to rise well into 2022 from the record levels already reached this year. At an average in 2021 of $45,000 for new cars and $25,000 for used cars - and rising - many consumers will likely find it either unpalatable or even impossible to buy a new car. That is great news for auto repair shops. CrossCheck can help seal the deal with sensible payment options as cash-strapped consumers will be increasingly likely to pay for repairs, rather than throw their older cars on the scrap heap.

In 1962, ABC broadcasted its first program ever in color. The show was called The Jetsons. As remarkable as that achievement was for the times, the animated sitcom was cancelled after only 24 episodes. In the 1980s, The Jetsons was revived for two short years before being shelved decades ahead of technologies such as digital cameras, cell phones, and virtual auto dealer options. Thankfully through syndication, reruns aired for a generation. Hanna-Barbera Productions cartooned unthinkable technology in each futuristic episode. Below is a short list of “FAR OUT” technology available only to George Jetson (and in the imagination of the writers) a half century ago that actually exists today. And with the recent successful takeoff and landing of an automobile on August 25, 2020 in Japan, the list just got a little longer.

“Dealers need to provide customers with a consistent, relevant, seamless experience throughout each stage of purchasing, including the dealership website.” – David Boice Recently, I attended a webinar given by David Boice, CEO and founder of a company called Advid. It was titled, “Lessons from Amazon Prime: evolving the consumer experience in the digital era.” I thought Mr. Boice had some important things to say about what consumers think and feel when they start their search for a new car, and I wanted to share this with our readers. To understand his message, we have to start at the beginning of the consumer buying experience.

What do Formula One auto racing and CrossCheck have in common? The answer is, “quite a bit.” Some explanation is in order. Formula One (aka “Formula 1” and “F1”) auto racing is one of the most exciting sports in modern Western civilization, with all the ingredients for a fabulous experience embedded into it. Article Summary Why is Formula One a fabulous experience? Who owns Formula One? What are the common denominators between F1 and CrossCheck? Why do auto dealerships prefer CrossCheck?

Recently, some of our merchant dealers have been asking us about artificial intelligence – what is it, how does it work, and most importantly, can artificial intelligence help auto dealerships increase revenue? To answer those questions, let’s start with some background. In 1950, Alan Turing wrote a paper titled “Computing Machinery and Intelligence.” His idea was: “Humans use available information as well as reason to solve problems and make decisions, so why can’t machines do the same thing?” The problem back then was that computers could not store enough information, or process it fast enough, to add value to the procedure. We needed more processing power, new software, and ultimately putting the GPU in the cloud. This took a few more decades, plus the power of Moore’s Law, to be viable.

The 2020 NADA Convention & Expo is an excellent opportunity for auto dealerships to increase their business skills while attending the expansive NADA Exhibitor Showcase and participating in workshops, interactive learning sessions, and peer-to-peer learning events. The ultimate goal, of course, is for auto dealerships to increase sales and mitigate risk while saving time and money. Attendees and presenters are composed of a highly qualified mix of industry leaders, manufacturers, exhibitors, experts, and of course, auto dealership management.