Name: Tekion Pay + Buy Now Pay Later: Turning Flexible Payments into Measurable Revenue
Uploaded: 2025-11-19T20:31:20.211Z
Duration: 43 min 40 s
Description: Tekion Pay + Buy Now Pay Later: Turning Flexible Payments into Measurable Revenue

Transcript for "Tekion Pay + Buy Now Pay Later: Turning Flexible Payments into Measurable Revenue": Hello, everyone, and welcome. Thank you for joining us for today's presentation, Tekion Pay and Buy Now Pay Later, Turning Flexible Payments into Measurable Revenue. My name is Jamie Fox. I'm the general manager of Tekion Pay and all of our fintech products at Tekion. Everyone will remain muted due to the large number of attendees today. However, we encourage you to ask using the q and a feature on the right side of your screen at any time. We will try to get to as many of those questions as possible and as time allows at the end of the session. Any that are not answered today will be responded to via email within one to two days. Also, your feedback is very important to us. A brief survey will pop up in your browser after today's session closes. We'd love for you to take a few minutes to fill it out and let us know how we did and what future topics we'd like to see. Now without further ado, let's get started. My name is Jamie Fox. As I said, I'm the general manager of Tekion Pay. I've been at Tekion almost six years. I've been here since dealer number one, and I, I started Tekion Pay as a product. I've been involved since $0 in volume to where it is today. I'm super excited to be joined by Asher Meltzer from Stripe. I'll let him give a quick introduction of himself before we kick it off. Thanks, Jamie. Great to great to be here. My name is Asher. I work exclusively on our BNPL products at Stripe, and we have been working with, Tekion Pay for for many years now, and we're super excited to speak to some of the new features that will be, rolled out on taking on pay pay relative to buy now pay later. So really excited to get stuck in and and cover off some of the value that the NPL brings. Awesome. Fantastic. Okay. So first, let's talk about what the agenda is for today. We did our introductions. We're gonna talk about Tekion and Stripe's relationship and and tech Stripe as a business and how Tekion Pay has scaled, on its growth curve, in partnership with Stripe. We're gonna talk about what BNPL looks like in the consumer market. We're gonna touch on what BNPL, is currently and what is currently available on Tekion Pay and what's coming on Tekion Pay. And we're gonna talk about some future things that we're working on that are that are not, released today, but, that should be pretty exciting for you all. And then we're gonna talk about, we're gonna answer your questions. So we're gonna take questions in the chat. We already have one. We'll get to that one, and many, many more. But we're gonna go ahead and kick it off, with Asher. Perfect. Amazing. Well, I won't spend too much time on the section as I'm conscious many of you might already know what Stripe does. But for those that don't, Stripe is a technology company, first and foremost, that focuses on payments infrastructure for the Internet. So today, we process a little over $1,400,000,000,000 in, in volume, servicing a broad range of of, customers from startups to innovative platforms like Taherean. Something I I do like to call out is that whilst we have over 8,000 employees, more than 60% of them are focused on r and d and product innovation. The takeaway here is that we're constantly releasing new features, which allow dealerships to offer a best in class payments experience through Tekion Pay. We also know that nothing else really matters if we can't provide a reliable way to accept funds, And this is why we obsess over the likes of reliability and uptime. So we probably have 99.999% uptime, which effectively means that no more than twenty six seconds of downtime in a given month. Effectively, whenever your customers wanna pay, they have the ability to do so without trouble. So really quickly, I wanna touch on the arc of Tekion Pay as a as a growth product here at Tekion. For many of you on the call, you may already be using Tekion Pay for your inbound payment processing. You may also already be using BNPL. But Tekion Pay start was founded in 2016. And in, in 2020, we released our first method of taking payment in the service lane. Now this was not Tekion Pay in itself, but it was a a way for you to link your merchant and take a payment. It's a very simple way to do it. Then we quickly realized that, you know, because we became a true dealership management system in an automotive retail platform, that payments fully integrated across the whole stack across all departments was really the way to go. And so we launched Tekion Pay in 2021, with a very small subset of dealers. And since then, you know, very quickly, we grew to a billion dollars in total payments volume. We released Canada support the following year along with ACH. In 2024, we rolled out things like credit card surcharge and consumer BNPL, which we're gonna talk about a lot today. And in 2025, we hit $10,000,000,000 of global volume process. So the scale and the growth of this platform, has been tremendous. It's provided a ton of value to our dealers. And this wouldn't be as possible to scale this quickly, without a partner like Stripe. Stripe enables us to offer a huge variety of payment methods quickly to be self enabled, inside of Arc and for you to take advantage of and deliver to your customers, whether it's 70% of the transactions that we process that are in person and our online payment, surfaces like consumer portal or payment links. Right? Stripe is our is powering the engine under the hood for us, as we deliver that best in class customer experience that, continues to drive additional revenue for your business. In 2025, we've also started, testing and rolling out crypto payments. So I'm not gonna touch on that today, but it's just worth noting that we're we're sitting at the bleeding edge of what payments means, to consumers. Right? We're meeting them where they are. We're giving them those payment options. And in 2026, we're gonna release a ton of exciting items, that continue to drive a financial operating system for our customers. Right? It's not just a traditional merchant services platform. It really is a financial system for you to operate off of, for both inbound, outbound payments, and everything in the middle. So super exciting. Our growth has been totally tied to Stripe's ability to support us. Five nines of uptime means that they're always available to us and always available to you. So let's move forward. Yeah. Thank you. I I I'm sure many of of you have probably experienced firsthand that that payments are inexplicably difficult. It's often nonlinear, complex, heavily regulated, and like a two edged sword can be that's gonna make or break in keeping your dealership running smoothly. So Stripe exists to reduce that friction, and the friction that stands between your customers and a successful successful customer order or or repair order. We've kind of come to learn that payments experience is synonymous with customer experience. So making payments personal and effortless is key to attracting and retaining customers, and to growing revenue or in the kind of Tekion world, customer pay. Consumer behavior has rapidly changed and, I guess, resulted in this proliferation of of of new payment methods where there used to be, you know, a handful of of payment methods for, merchants to to integrate and maintain. The last, call it twenty years, fifteen, twenty years, have seen this exponential increase in new methods. And we're seeing this availability of these new methods become more important, to have at the time of payment and, almost kind of becoming table stakes for merchants. We ran a study a couple of years ago on the state of checkout, where we found about 85% of consumers will frequently abandon their purchase if their preferred payment method isn't offered. But as we all know, you know, offering multiple payment methods brings a lot of complexity across integrations, maintenance, regional considerations or preferences state by state. Tech Here on Pay extracts much of that complexity away to ensure your customers are able to kind of pay with their preferred method of payment, you know, at all times. In terms of kind of payment payment method classification, so payment methods can be classified into clear categories. I think cards were the dominant player, then came the rise of of wallets like Apple Pay and Google Pay, bank debits for for b two b transactions, and then more recently, BNPL, which has has really seen a meteoric rise amongst the the younger generations. And a payment method we'll we'll we'll go deeper on shortly. I really just wanna kind of highlight that Stripe partnered closely with Take Your Own Pay to ensure that all, you know, all dealers have access to the most impactful and high use payment methods and to ensure that your dealerships can offer the the best experience to your end customer so that, you know, collectively, we can offer a frictionless checkout experience with reduced complexity. And then at the click of the button, add new payment methods that help increase conversion and transaction size per RO and SO. Next slide. There, we go. I think that's super important to touch on. Right? Because the way that we enable payments, if we did not have a partner like Stripe that was working to constantly be at the cutting edge of what is available in the market and doing the underlying work on the payment rails themselves, we would have to do separate integrations for all of these and separate work and engineering work. But instead, we get to use a partner that is doing that work for us and ultimately that, we'll get into this a little bit later, but that creates a very seamless kind of single pane of glass no matter how you're taking a payment and no matter where you're taking a payment. And I think that's really important to call out is that Tekion Pay will continue to release more and more payment methods as they come up. Right? Things like WeChat Pay, Alipay, as two examples. But, ultimately, the experience of the customer doesn't change. We're just meeting them where they are with their preferred method. Exactly. Ship shifting gears a little bit. I know we're we're here to kind of speak on BNPL, and I wanna, dive a little bit deeper on on this topic. You know, we we really have seen see, we we really have seen a a tectonic shift, occurring in consumer behavior and spending habits. Credit cards were once the kind of dominant way to pay online and in person. And then as a as a byproduct, of the environment where we live in, whether that was, off the back of the pandemic or economic uncertainty or, general kind of changing sentiment towards credit amongst the younger demographics, we have seen a rise of BNPL products and a shift towards BNPL having expected permanent placement across everyday purchases. And this kind of growth, this BNPL growth is is largely underpinned by the younger generations with a disproportionate skew towards millennials, gen x, and gen z. So if you could put in, like, an age bracket to that, it's probably, like, you know, 1982 or 83 and above. And that's a a really powerful generation to tap into, and these generations kind of, are actively choosing BNPL as their as their primary method of payment. By 2026, BNPL is expected to reach around 24% of global ecommerce spend and that is up from 9% in 2021, which is it's kind of nuts when you think about it. And whilst I am completely aware that you are not an ecommerce business, I think the stat represents more broadly the growth BNPL is seeing. In fact, BNPL is is used across a wide range of industries, including automotive, which is one of the top 10 fastest growing use cases for BNPL. So we showcased and kind of talked about the the demand of BNPL, but what are the kind of brands that are commonly used in North America? Who are the kind of, like, largest players in the space? You know, they're the likes of Affirm, Klarna, Afterpay, and Zet. These brands collectively have unbelievable network effects and very loyal, customer demographics and followings. So, you know, in The US alone, Affirm and Klarna have tens of millions of customers respectively. And to substantiate that scale, that's basically, you know, one in four Americans using BNPL every day to to, you know, purchase an item of their choice. Across the the the brands, the the payment offerings that each of, them offer are both interest bearing and non interest bearing options. So the non interest bearing options are the likes of this pay in three or pay in four feature, which is kind of most synonymous with the words BNPL, where you split up a transaction into four easily, four easy fortnightly transactions. And then there's a kind of interest bearing side, or or or financing side, which is otherwise known as monthly installments. And so that's the ability to break up a larger transaction size over the course of three months, six months, twelve months, twenty four months, thirty six months, or so on. And, really, like, the customer has ultimate control here. When the customer selects to check out with an NFM or with Klarna or with Afterpay, they will see a variety of payment options that are available to to them based on that transaction size and have the autonomy to decide, hey. Like, how do I want to check out here? What works within, my budget at the moment? What works within my lifestyle? And so it's really kind of bringing the power back into the consumer's hands, in very kind of friendly, digestible payment terms. Now I I think a big question on your mind, and I know a kind of question I've I've I've spoken a lot, many times with Jamie before, is this idea of, like, what BNPL provider do I choose? There are, you know, these four amazing providers. Who should I I I I I enable for my dealership? I think it's important, to realize that there's actually value in offering multiple bMPL payment methods, not just one. So if we look at the core four bMPLs in North America, they only have around five to 12% of consumer overlap. This implies that each additional bMPL that dealerships enable through Take Here on Pay represents around 90% incremental consumer coverage. So Take Here on Pay intends to unlock consumer audiences across a multi like, a multitude of of BNPL providers, And dealers, currently have access to FM today, but Jamie will share shortly, you know, what other providers may be available on on Tekion. But I think this is a really, important point to nail nail home. It's not about choosing one or the other. There is value due to the unique consumer profiles that each of these b m p l's have to have, you know, both enabled or or multiple enabled concurrently. I think that's really where we're gonna Techyon Pay as a platform is taking that approach. Right? We're not going into a single provider relationship going forward. We are becoming a platform for optionality. Right? This is a very clear thing that if you want to cover as much of your consumer base as possible, you should offer as many BNPLs as possible to give them the opportunity to have as frictionless of a checkout experience as possible. Right? Because they're existing customers with Klarna, but they may not be an existing customer with Affirm. And it's just gonna speed up the checkout. It's gonna increase it's gonna increase time to revenue, and just give them a a better customer experience when they check out. Exactly. And I think the end game is really, like, who are we to say how a consumer should spend when the reality is the consumer has their own preferences around, you know, who and what they wanna use. Yep. Great. So Stripe conducted a a study of around a 150,000 checkout sessions, but the kind of key takeaways of the study on bMPL was that more than two thirds of bMPL sales were deemed net new volume. That is to say that they don't broadly cannibalize other payment methods. So again, kind of feeding into that unique demographic, that unique customer profile associated with these providers. The second kind of point, and this is a big point, is brands that enabled BNPL saw on average an increase of 14% to their revenue, which is derived from an increase to to cart size or or order value. And the the last point is BNPL checkout sessions, increased conversion by up to 10%. In other words, reduced cart abandonment or made it easier for the end customer to to proceed with with the purchase. I'll I'll pass over to Jamie to go over the impacts specific to, dollars per repair order, that Tekion has uncovered. Awesome. Yeah. Asher just mentioned the 14%, revenue increase, and we, we sampled the dealers that that have it today. Right? And we are seeing somewhere between 1015% increase in, customer pay dollars per RO, overall. Right? This is not just specific to PNPL transactions to your point. It's it's it's increasing the average transaction size of every RO. Right? Of course, people are gonna still pay with card. They're gonna still pay with other payment methods. But overall, we're seeing 10 to 15% increases in dollars per RO or sales order, just by enabling BNPL and giving, giving customers the choice. And this really goes into on the service side. Right? Making deferred services and recommendations as part of the estimate and invoicing process, more tolerable. Right? More palatable. Right? They can pay for a an upsell or a recommendation over time rather than being staring down a very large bill potentially right in face. Right? They have flexible payment options. But what on BNPL transactions specifically, we see an increase of 80 to a 100% from a transaction size perspective. That's really important. Right? If it if a customer is using BNPL, their transaction sizes are 80 to a 100% higher. Right? We're talking about, over a thousand dollars average on BNPL transactions, right, compared to card. And so for us, it's really important to to to put this in the lens of a dealership because this is as simple as turning it on and starting to realize the flexible benefits of having buy now pay later offered to customers in service and in parts where the majority of customer pay revenue is is generated. I wanna touch on some payment methods. As Asher was talking about, you know, that's better to enable as many as possible. And so today, as of right now on Tekion Pay, the buy now, pay later method that's available, to dealers that turn it on through through Tekion Pay is Affirm. That is the only one that's available today. However, as I stated before, we're trying to be a platform for for optionality and choice, right, and giving consumers the ability to to choose the way that they wanna pay. And so in December, we'll be releasing support for both Klarna and Zip. Now, Zip will be available in The US only, but Klarna and Affirm will be US and Canada. And then in the 2026, for a lot of you on the call, you may be using Sunbit today. Tekion has an existing integration, but it will be offered through Tekion Pay, in the first half of the year along with Afterpay. So we're creating a flexible ecosystem for one, us to provide you as dealers the options to use, the payment methods and buy now pay later methods that you want, but also your ability to give customers choice. I think that's really important. Right? You can pick, what you, offer to your customers from a payment method perspective. And just, pausing there, I, like, I I think we're really, like, drilling down on the value that this brings in terms of, like, autonomy and choice to the customer and the the flexibility it provides the the customer to to, to make payment in a way that is flexible and accommodating to them as a as a buyer. But I also really want to stress outside of the, like, huge, impacts to to transaction size and revenue that that that, Jamie covered for for Tekion users, in the the the the data that we have so far, I think it's also important to realize that whilst a customer might, you know, hop on a a payment plan with Affirm or with Klarna for, you know, twelve months or or twenty four month terms, Tekion is actually settling the gross amount of that transaction to the dealer. So if it's a $5,000 transaction, but the customer has opted into a payment plan across twelve months, you're still receiving that $5,000 upfront. And then, you know, Klarna and Affirm and these buy now, pay later providers are gonna handle that the the recruitment of funds based on whatever frequency, the customer has opted into. I just really wanted to. to stress that. It's a good thing to stress. Right? I mean, for for us and I'll get into the reconciliation portion in the back office of Tekion, of Arc, Automotive Retail Cloud in a second, but, it's really important important to stress that. And so thank you, Asher. There it becomes the same settlement timing as a card payment. Right? So you're funded immediately. Your customer goes on their way, giving them that flexible option to maybe pay it over time in the manner that they want with the provider that they want, but you are funded in the same way in the same time frame that you get funded with on card. So let's talk about checkout flow. So, the the best part about this is that from a customer experience perspective, there is nothing else that, one, your employees have to do as part of this or your customers. The checkout flow is exactly the same as if they were paying on card or with Apple Pay or whatever other payment methods are available. They're presented those options during checkout in an online fashion, so in consumer portal, which is our service customer portal, or via payment link. If they select Affirm, for example, I'm using Affirm in this example because it's this is what's available today, but ultimately, the other providers will be listed here. They go to a hosted flow with Affirm, right, because Affirm is underwriting this this customer. They are extending them these flexible payment options, and they go ahead and they qualify themselves. Right? So from a dealership experience perspective, they're getting the consumer portal link for their service RO, and you're not doing anything special on top. Right? The cashiering experience is the same. Reconciliation is the same. The customer is just choosing to pay with a pay over time, buy now, pay later method. They go through the full checkout. It takes the exact amount that is due. They quote they based on their qualifications, it's a soft credit soft credit check for eligibility. They go ahead and select their preferred payment option. Generally speaking, they get pay in four and pay over time options from companies like Affirm, and they select it here. They check out, and what happens is at that point, the payment is immediately recognized inside of Tekion Pay. You're able to close that RO, close that SO, and move forward with with that transaction and complete it with the customer as if they paid on card. That's super important because the experience does not change for them. They're just given additional options to pay. You don't need to send them a separate link. They don't need to go to a separate portal. The experience is built inside of Tekion hosted workflows, and Affirm is layered on in there or Klarna or Zip. It's all gonna be that same experience as they go through checkout. Now from an availability perspective, we're getting some of these questions in the chat. BNPL is available in on both consumer portal for service and on payment links, and that's service and parts. So it's available on the fixed ops side today. There are some limitations around categories, so we can't release it on the retail side from a f and I product only perspective, or vehicle sales perspective, but it is available in service and parts, and it's available for consumer customers today. Qualification and and payment, as I said, are all completed through hosted workflows with the providers based on who they select and payments are automatically reconciled inside of cashiering as every payment is inside of Tekion. It's no different. It is just identified as a buy now pay later method and it is reconciled all the way through to accounting as any other transaction processed on Tekion Pay. So on the right side, I have an example of what our daily deposit reconciliation looks like with automated with automatic, draft deposit. Buy now pay later payments show up here. They are reconciled with your single deposit that you get from Tekion Pay into your external bank account, and you're able to just treat it as any other payment that was taken, through Tekion Pay. There's no special process in the back office. It all reconciles the same way and all deposits in that one single deposit every single day. And that's really important because a lot of times when you offer something new from a payment perspective, it requires a whole new process. In Tekion Pay, our goal is to have that single centralized process. Right? No matter how a customer is paying, no matter what department they're paying in, and when it comes to the back office, we wanna make sure that that experience stays the same throughout no no matter how many payment methods we add and we intend to add a ton more. And so we wanna make sure that this happens for every single method and BNPL is no exception. It it follows the exact process that card payments do in ACH. Now from a enablement perspective, you might be thinking, okay. How do I sign up for this? How do I do this? How do I get started? BNPL is self-service inside of inside of Automotive Retail Club. So inside of the payment settings style, you simply come in, you go to the BNPL section under payment options, and you slide BNPL on. At that point, there are small terms and conditions box, of course, that pops up. You accept those, and it is immediately enabled for your transactions. You can also go in and set lower and upper limits for the NPL transactions if you only wanna offer it over certain, transaction sizes. But it gives you that level of flexibility, and it's as simple as turning it on, from inside of your own automotive retail cloud interface. You don't need to talk to Tekion or be sent a contract. It is just available for you, from a product perspective to turn on. And any other payment method that we release, on Tekion Pay, including all of the BNPL offerings that we talked about earlier, will be treated in the same exact manner. So anything that comes out on Tekion Pay from a payment method perspective, will be available in here for you to consume immediately and begin offering to your customers, as soon as as soon as you want. So let's talk about what's next. Of course, we talked about consumer BNPL. What we are in discovery on right now and working towards is this concept of business BNPL. Right? Of course, all of you are working with other businesses as part of your your dealership operations and, you know, a lot of options have, charge customers. So you have a lot of charge customers. You have AR that you're floating to customers. We are come going to be coming out in 2026 with, a business buy now, pay later option. And what that means is that you can extend the same experience to, business customers, to if they intend to or they want to, they can pay their, aging AR or any sort of other charge, service, repair orders, parts, sales orders. They can pay them over time, but your funding method is the same where you're gonna get funded immediately, in that same manner that that Tekion Pay funds you for all your other transactions. But it allows you to not have to take on all of that flow risk yourself and extend this option to customers as a way, for them to have flexibility without you taking any of that repayment, repayment risk or ownership of that of that aging AR. It's gonna be offered in service parts and accounts receivable. We're super excited about this. We've pulled a lot of dealers and, feedback is very positive. Right? Especially as everyone is very cash flow heavy, cash flow focused. Excuse me. So we think this is gonna be great. We will, of course, keep everyone updated as as we progress through this, but I think it's really important to capture the full buy now pay later market and not just focus on the consumer side because in the automotive world, in the dealership world as we know, commercial and business customers are are very important as well. So it's very, very, very cool thing for us to start discovery on, and we look forward to releasing it to you all for use, on on automotive retail cloud. And so what's the what's the one takeaway from this? The one takeaway is that integrated BNPL inside of where Tech e unpaid lives, it empowers dealers to drive actual measurable fixed ops revenue by meeting customers where they are, giving them the payment options they want, and giving them that flexibility to pay in their own way in their own manner. But it also continues to keep that back office efficiency, that Techyompay provides. Right? It doesn't increase complexity. It doesn't make your jobs harder. It gives your customers a better experience but keeps your processes the same. And I think that's really the overarching driving point here, is that we wanna be a platform that offers as many payment methods as possible, but keeps your dealership operations the same. Okay. So now it's time for questions. So I'm gonna go through Asher, and I'll I'll prompt you as well. But, the first one we have, is this, can this be only offered through payment link? As in if we have a customer physically in the dealership, we have to send a link instead of cashiering as we would if they were to pay by credit card. How can we find out what would they would be approved for before we do any of the potential work? So I'll answer this in a couple ways. One, currently today, this is, driven in a online ecommerce style fashion, you know, very similar to your point with payment link. However, there is a a lot of noise in the b n p l space about in person b n p l payments. Right? We are partnering with Stripe on some of these items. I don't have a date for when that will be available, but our intention is to bring this to the in person checkout flow, as soon as we can. Right? Because 70% of our transactions are, are in person across the entire Tekion Pay ecosystem. There's almost 10,000 terminals out there in the environment, and we wanna make sure that that in person experience is as good as possible. But today, it is available on consumer portal and payment links only. It is very simple to send that payment link to the customer and then they do the checkout complete it fully on their phone but there is some level of friction for in person transactions and we want to solve for that which we will do, as in partnership with Stripe. So the next question is we're already using Sunbit in Affirm. What is the upside of using it through Tekion Pay, and Stripe? Well, I will tell you that it's great that you're already using BNPL. I think that the benefit you get by using it through Tekion Pay is that you are consolidating your payments infrastructure into one place. And what that means is that no matter how you're taking a payment, instead of getting a deposit from Affirm and a deposit from Sunbit and a deposit from Tekion Pay, you're just getting a Tekion Pay deposit. So it streamlines the back office reconciliation because now you only have to reconcile one basically, one statement or one payout report. So it's great that you're already using it, but the benefit you get is the efficiency from not having to match and look. Right? You have disparate systems. You're going to have context switching between different systems trying to found find out where this payment was taken and why it was taken. And Tekion based streamlines that all of you all of that for you with that that visibility of who took a payment, what RO was it taken on, when was it taken, and when was it deposited into my bank account. Let's see. So, Asher, question for you. How long does it take to get approved for a BNPL method as part of this checkout flow? What does that process look like? Right? Yeah. I I think, businesses can generally enable these payments within, you know, seconds, on the kind of Arc system. So as you showcased, once they log in to their payment method settings, it's as simple as as toggling that method on within their profile. I'll caveat that that the it's on the assumption that the NCC code or or or the business type is is eligible and supportable, but most dealers, operate within a supportable NCC, so there should be no issues. But different payment providers do have different eligibility requirements, so that's why I wanna put that caveat. Got it. It really is as simple as as toggling it on, and, it will, you know, instantly be available for for the the dealers, which is amazing. I will tell you that, with the exception of maybe a very small few, the majority of our dealers are all on the same merchant category code because they offer the same product, when they are eligible for this. The other side of that question is, as a consumer, what does that approval process look like? Yeah. The so I I I think the value of of these consumer facing BNPL brands like Hana, like Affirm, is they already have very sizable, demographics and user bases. So, you know, like, north of 30,000,000 customers and and, for for some of them. What that means is there's this very strong likelihood that the customer already has a consumer, BNPL profile, with Cline, with with Affirm. In that flow, all they have to do is log in to their account, and they'll be able to see whether or not they are approved to proceed with that transaction. In the event that they don't have an account with that provider, they go through a very streamlined onboarding flow, that can takes, you know, a couple of minutes. And then once they complete that flow, they'll be able to, see whether or not they are approved for that transaction amount. I think given a lot of Tekion Tekion, transaction sizes can skew larger at times. If it is a net new customer, they might not have the approval, in place. But assuming that the customer has been, use utilizing that BNPL for for quite some time, their transaction limits are a lot larger, and and there there should be, no issues on on that front. Got it. Thank you. The next one is and I will take this one. Do dealers have to sign up or have agreements with with the payment processor? And so I'll touch on that with two things. Right? Tekion Pay in the merchant services relationship is the processor for a dealership. And as part of that, we offer these payment methods. So there's not another third party agreement that you have to have with any of these payment methods because they are provided through Tekion Pay. You're managing a single relationship with a with a multitude of payment methods so no you do not have to sign up directly with any of these providers. They're available for you inside of Tekion Pay as payment methods that Tekion Pay offers, to your dealership. To tail off of that, the other the other question I got is, do we need to have a new Stripe account or can our current one because a lot of our dealers are using online parts and other pieces. Right? Can our, can our current Stripe account work? So in the Tekion Pay onboarding flow, you do sign up for a platform account with us. It's a connect account that that is inside of Tekion Pay as a platform, but, Stripe has recently released a lot of very accelerated enrollment processes where if you have an existing account, a lot of that information actually just transfers over. It's called networked onboarding, and the process can take less than five minutes to simply spin this up. Right? On the Tekion Pay side, you operate on Tekion Pay inside of, automotive retail cloud. You do not operate inside of Stripe at all. It's completely hosted inside of Tekion. So while you do create a new Stripe account, it is not another one inside of Stripe dashboard that you have to manage. It is completely administered, and operated from inside of Tekion. The next question that we have is, is this available in Canada and The US for flexible payments? And, you know, Asher, I didn't know we talked about availability. Affirm, Klarna are are available in Canada. I believe Afterpay is two. Zip is not. But to answer your question, anything that is available for use in Canada will also be available on Tekion via Tekion Pay for use in Canada. Next one, is it only for the service department? No. It's available across fixed ops. So service and parts both have this functionality to offer buy now pay later payment options. So, yes, it's available across the whole fixed ops department. Next question is, are there potential chargebacks if the customer makes payments? So, Asher, I'll let you take this one. Right? If they don't repay, what happens? Yeah. I I can speak to that. So many of the providers like Klarna or NFM, will provide liability if the dispute is a fraudulent transaction. But the, outside of fraudulent transactions, customers are still able to file for disputes in the same way they can a card, and that process, is very similar to the cards process today. So once a dispute is raised, the merchant, gets an opportunity to submit evidence, to counteract that dispute. The network, in this case, it's not Visa or Mastercard. The network in this case is is Klarna or Affirm or Afterpay. The network will decide whether or not to side based on the review of evidence, side with the merchant or side with the customer. In the event that they side with the customer, the the the funds, are are not returned. In the event that they side with the merchant, their funds are. There might be some added, layers there around how Tekion handles their dispute policies that I might not be privy to, but, Jamie can probably speak to that as. well. You're you're right, Asher. That's exactly, how we handle them. The one other thing that I'll mention is on the refund side. Right? If you you can issue refunds on BNPL, and what happens is you can you can issue it just like a card, like you do inside of Tekion Pay. It just reduces the total amount that that customer has to repay. So from a refund perspective, if you need to do a partial, you are able to do so from inside of Tekion Pay, and it's treated very similarly. Just reduces the total amount that's due back to a firm or any other provider, and repayment continues. But, I think the other question too is if a customer doesn't pay back a BNPL provider, is there a liability on the dealership side to pay any of those back? I it's I I can speak to that. I mean, I I if if in the event that the customer is is not adhering to their repayment plans, I e, you know, they've they're that they're no longer paying back, you know, some of those monthly installment terms, that is is between the customer and the BNPL provider. So the BNPL provider is liable for the recoupment of those funds at whatever frequency the customer has pre agreed to when when opening up those those payment terms. And then in the event that the BNPL provider, cannot recoup those funds, the dealerships are not responsible, so no need to to worry there. Yeah. Cool. I'll take this one. This will be our last question for today. Is there going to be an additional fee on top of the fees we're already paying to use Sunbit and Affirm coming from Tekion and Stripe? The answer is no. But what will happen is that instead of paying those providers directly, you will pay it as part of the payment process through Tekion Pay. So it's not a two fee structure piece. You are paying companies like Sunbit and Affirm today directly. All of that will be looped into the way Tekion Pay operates today. You won't have two separate fees you have to pay. So if you imagine how you're paying transactional fees on card, it's treated the same exact way, albeit the rates are different, but it is the same way. You're not paying to the provider, and to Tekion and to Stripe in the same way that you are not paying fees to Stripe and to Tekion for a card transaction. It is all centralized inside of TekionPay. Alright. Well, I wanna thank everyone for joining. We had a few questions that we couldn't get to, but we will answer those, in the next one to two days. Like I said in the beginning of the webinar, we appreciate it. If there's anything else that comes up for existing customers, you can talk to your customer success manager. More than likely, they know how to find me if they need more clarity. But Asher, I wanna thank you for joining. It's great to have you. Super insightful in the BNPL landscape. And, you know, we're super excited to grow our BNPL offerings and give more customers flexibility to pay. Thank you.