In essence, by integrating Airwallex’s Scale Native API, Carwow can now facilitate more efficient transactions, ensuring prompt payments for sellers and simplifying processes for dealers. Through this partnership, private sellers benefit from immediate payment for their vehicles upon sale. At the same time, Carwow’s dealer partners benefit from enhanced operational efficiency.
It's worth noting that dealers in the network are required to agree to certain terms and conditions before receiving an Airwallex Account, which includes dedicated GBP account details for securely storing funds and making transfers to complete purchases.
The integration also enables same-day payment settlements, improving cash flow for dealers. This functionality extends to handling payments for multiple recipients involved in the transaction, such as sellers and finance houses, while also addressing potential negative equity balances.
Additionally, the partnership eliminates challenges tied to off-platform payments. Dealers can monitor payment statuses directly through the system, while sellers are notified when payments are processed, increasing transparency and trust in the platform.
Regarding this new partnership, representatives from Airwallex noted that payment-related friction often undermines confidence in transactions. They explained that the Embedded Finance solutions provided by Airwallex aim to address these issues, offering both dealers and sellers a secure, efficient, and seamless payment experience.
Officials from Carwow highlighted the operational challenges many dealer partners face when arranging same-day payments and emphasised that the partnership with Airwallex will enable dealers to process payments securely and efficiently, enhancing trust and convenience for both dealers and consumers.
For more information about Airwallex, please check out their detailed profile in our dedicated, industry-specific Company Database.
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