Unattended Car Buying Alternative Challenges Traditional Purchasing Models

Newly released PYMNTS.com Unattended Retail Tracker shows how online car-selling startups are creating digital disruption to the auto retailer industry

BOSTON--()--In the past, buying a new car typically meant taking a trip to the local dealership and spending hours finding the right ride and dealing with an abundance of paperwork and a perceived lack of transparency from dealers. However, that long-standing tradition is being tested by online car-selling startups, according to the recently released PYMNTS.com Unattended Retail Tracker.

The latest bimonthly tracker shows how companies like Carvana are bringing digital disruption to the auto retailer market by allowing consumers to shop and purchase a new car via the Internet, but they are also letting buyers pick up their vehicles at their fully automated, coin-operated car vending machine in Nashville.

Ernie Garcia, founder and CEO of Carvana, says integrating the vending machine concept into vehicle buying makes for a “one-of-a-kind experience that mirrors just how simple and easy we’ve made it to buy a car online.”

On average, customers spend about 30 minutes purchasing a car through the online car-selling startup in Tennessee. Customers can complete all the necessary paperwork, submit down payment information, review contracts and sign for everything electronically.

When the time comes to pick up their vehicle, they visit a multi-story glass structure with 20 cars inside, select their name from a kiosk, enter the coin into the vending machine, and then the vehicle is instantly retrieved through the use of robotic platforms that can move a car thanks to automated parking technology.

Some other highlights from the tracker include:

• Wendy’s plans to roll out self-service kiosks to 6,000 locations by the end of the year.

• HealthyYOU plans expansion to 800 operators and thousands of healthy vending machines nationwide.

• FlashPARCS mobile kiosks will now add a cash payment option due to a revival of cash payments at parking lots in recent years.

Here are the companies making the Top 15 unattended retail power rankings list with their respective score:

1. Ingenico Group - 88
2. Unattended Card Payments Inc. - 83
3. Apriva - 78
4. Payment Express - 75
(t) 5. Moneris Solutions - 74
(t) 5. Nayax - 74
7. VE Global Vending Inc. - 70
8. USA Technologies - 68
9. 365 Retail Markets - 66
(t) 10. Cantaloupe Systems - 65
(t) 10. Oti - 65
(t) 12. Hemisphere Western Europe Ltd. - 64
(t) 12. PayRange - 64
(t) 12. Verifone - 64
15. Microtronic US – 63

New additions to the tracker listing include:
• 365 Retail Markets
• Hemisphere Western Europe Ltd.
• Klever Logic
• MSC Payment Solutions
• PayLevel Systems
• PayTec AG
• Payter
• SIX Payment Services
• Terminal Technologies Ltd.
• UNICUM

The provider scores in the report are determined based on the evaluation of four areas: acceptance of various payment methods, markets served, security standards achieved and technology solutions offered.

To get exclusive insights, download the complete Unattended Retail Tracker.

About PYMNTS.com
PYMNTS.com is reinventing the way in which companies share relevant information about the initiatives that shape the future of payments and commerce and makes news. This powerful B2B platform is the #1 site for the payments industry by traffic and the premier source of information about “What’s Next” in payments and commerce. It provides an interactive platform for companies to demonstrate thought leadership, popularize products and, most importantly, capture the mindshare of global decision-makers. For more information, visit the PYMNTS website.

Contacts

PYMNTS.com
Alexander Terzian, 617-374-4700
aterzian@pymnts.com

Contacts

PYMNTS.com
Alexander Terzian, 617-374-4700
aterzian@pymnts.com