Derailing a $21,219.17
Fraud Attempt with 3DS2
Discover how Great Lakes Honda in Sault Ste. Marie improved both its CSI and customer experience!
Using Kimoby Pay has been a game-changer for our business.
We've greatly reduced the number of fraudulent transactions and chargebacks, which has saved us both time and money.
By seamlessly integrating cutting-edge technology, they have revolutionized parts and service payments, providing their customers with a streamlined and secure transaction experience. This case study delves into their remarkable journey, highlighting how Mercedes-Benz Langley has achieved operational excellence while prioritizing customer satisfaction (and security).
This Dealer's Success
Drastic Enhancement in Transaction Security
Mercedes-Benz Langley, part of the Dilawri Automotive Group, encountered a unique case when a vehicle with two flat tires and minor accident damage was towed in on February 2023.
The customer, who preferred online and text-based interactions, requested remote payment and invoicing before sending one of his associates to pick-up the car during after-hours.
By employing Kimoby Pay's advanced encryption and secure payment measures, Mercedes-Benz Langley was able to thwart a fraudulent transaction that would have cost them a substantial sum of $21,219.17.
This potential financial disaster was prevented thanks to the 3DS2 protocol, an advanced secure payment authentication process, that necessitates additional customer identification information, fortifying the transaction's security. This incident highlights the immense value and necessity of stringent security protocols like 3DS2 in the digital transaction landscape to help dealerships safeguard their finances and fortify their reputation amongst their customers.
Undeniable Operational and Financial Savings
The successful prevention of this fraudulent transaction resulted in a direct financial saving of $21,219.17 for Mercedes-Benz Langley. Moreover, the financial impact is amplified by the fact that they also avoided the cost of lost labor time and parts.
By helping to mitigate the risk of future fraudulent transactions, Kimoby Pay offers continuous operational savings. This contributes to the dealership's overall profitability by enabling them to invest more in customer service, vehicle inventory, and business expansion.
Impressive Boost in Customer Confidence
The 3DS2 protocol not only secures transactions but also bolsters customers' confidence in Mercedes-Benz Langley. With the security provided by Kimoby Pay, this dealership enhances its customers' confidence in the dealership's financial transactions. This trust can translate into tangible benefits for them.
According to a study by NADA, increasing the customer satisfaction index (CSI) score by just 1 point can increase profits by $300,000 annually. Thus, the improved customer experience offered by more secure transactions can potentially lead to a significant rise in customer retention and, subsequently, dealership profitability.
Empowering Convenience and Combatting Fraud.
Get Paid Faster. Protect Against Fraudulent Transactions.
Kimoby’s flexible mobile payment options will delight your 21st-century customers. Speed. Convenience. Transparency. The only thing swifter than your dealership’s checkout process is how quickly customers will get back on the road.