Dealer Merchant Services

Recently on a team meeting, we were talking about what is our vision of excellence. It was pretty fun because everybody on the team had a different answer. But what was synonymous with everybody: All of our team are automotive professionals and so they have a true love and passion for the car business. And they really wanted to make sure that what we said we were going to do, we execute on. And I got to tell you, we have so many dealers that we leave and say, "You guys did what you said you were going to do. You made sure that you walked us through the process. You really held our hand to make sure everything was executed upon." So, I feel like all of our customers and our clients really believe that we care. What's been the most interesting thing that come of your staff meetings this week?

I'd like to tell you a story about a dealer group that reached out to us last year. They're a 13 store group and they were concerned about customer sentiment if they started passing their credit card fees to their customers So, they decided that they would start with two of their 13 stores. It was a great launch, very successful 💥 and within two weeks they launched the rest of their stores. Here's the cool thing: The CFO has since referred us to 45 additional dealerships across the country and we've saved them $243,000 so far! Reach out if you have any questions about passing along these fees to your customers and let me answer any of your questions.

Dealers often ask how quickly they can get started with a program like our compliance surcharge program for auto dealerships. We have a very deliberate way in which we roll this out. First, you have to sign a new merchant application and the federal government is regulating the information that we get on that merchant app. Meaning, it's just like opening a bank account. You have to have date of birth and social security of anybody that owns 25% or more of the dealership. And we've seen all kinds of different ways dealerships are formed, whether it be a trust or have publicly held shares. And so it's really important that you choose a partner that understands all of that. Then we get a list of all of your employees and people that you want us to train. And we put them in our dealer merchant services university. We've trained and certified 13,000 dealership employees across the country, specific to a compliance surcharge program. From there we find a time to launch and be on site at your store and smooth out all the rough edges. It takes about 3-5 weeks on average. 

At Dealer Merchant Services, we actually can account for every dollar of savings that our dealerships get to experience on our program. We've been tracking and measuring that savings for the last three years and we've currently saved our dealers over $10.1 million dollars in our program so far. We're now saving our dealers over $1 million a month!!