Online Payment Option Launched

• NextGear Capital, Shoreham Vehicle Auctions (SVA) and Kingfisher Systems have worked together to provide an online payment solution.
• SVA will be the first independent auction to offer online payments to NextGear Capital Stocking Plan holders.
• The online payment platform went live on 22 August 2014.

Shoreham Vehicle Auctions is the first auction house to go to market with this online platform, allowing dealers who are customers of SVA and NextGear Capital to fund vehicles bought at SVA online with one click using the Inventory Management System (IMS) designed by Kingfisher Systems.

Dealers can opt to fund the vehicles through their NextGear Capital Stocking Plan online 24/7, without needing to speak to anyone at either business, just by clicking the payment button on their 'My Shoreham' system. This provides greater control for dealers to run their business at a pace that suits them.

Alex Wright, MD of Shoreham Vehicle Auctions, is delighted to be the first auction to offer dealers the ability to fund online with NextGear Capital; "Time is a valuable commodity in 2014 and we have worked together with NextGear Capital and Kingfisher to develop this online offering for our dealers, allowing them to concentrate on their customers and be able to stock more and sell more. Knowing a dealer has paid for a vehicle is very important to an auction house and this facility will further improve our back office processes."

Ian Fisher, MD of Kingfisher Group commented "Working with two forward-thinking companies has allowed us to develop an offering that simplifies the auction process with the used vehicle dealers reaping the rewards. Simplicity is the answer to technology requirements in the remarketing industry and we are delighted with the response from our clients."

David Mercer, MD of NextGear Capital added, "Having started working with SVA, who became our first independent auction partner in May, we have seen a high level of interest from their dealers and believe this addition to the services SVA offers will result in a dramatic growth in their online presence and customer satisfaction.

Our business was founded on being at the technological forefront of the industry, with ease of use for dealers as the main driver. Our partnership with Kingfisher and SVA is evidence of our approach and we are planning further innovation for the months ahead."