In June of 2023, the Payment Systems Regulator (PSR) announced it was examining a sample of approximately 20 card scheme and processing fees changes between 2017 and 2021. These fee increases are directly impacting automotive dealerships across the UK.
The pressure is on dealerships to cut costs
As the cost of taking payments continues to increase and inflation nips at our ankles, it’s increasingly important for automotive companies to review where they’re spending and highlight opportunities to cut costs. For the average automotive business, the amount of fees taken by cards can significantly impact profitability but offering consumers payment choice, is critical to enable and empower experiences online and in dealerships.
In order to better understand the impact of card transaction fees on automotive dealerships we’ve surveyed, interviewed and analysed the results from 89 UK based automotive companies. Our hope is that this research helps automotive dealerships to understand how their card fees compare to their competitors and peers in the market. After all, as the cost of doing business is increasing, we need to ensure that each and every business has access to fair, payment processing to grow their dealership. Download our report to see what we found.
