Feb. 6, 2019

Carvana, the e-commerce platform for buying and selling used cars, has launched a program with Bank of America to let buyers shop and obtain financing through the lender’s own platform, a move that will add about 15,000 Carvana vehicles to the bank's overall inventory.

Customers visiting Bank of America's digital shopping tool can select a Carvana vehicle, select a financing application through the bank and complete the transaction on Carvana.com, all within about 10 minutes. Customers can trade-in their own vehicles and get next-day delivery.

"We launched Bank of America digital car shopping to offer our clients a more convenient and transparent experience -- from searching vehicles and dealerships to qualifying for financing, all from a desktop or mobile device," said David Hollodick, senior vice president of consumer vehicle lending at Bank of America. "With Carvana vehicles added to our platform, our clients can take the process one step further and finalize a purchase without ever leaving home."

The vehicles on both platforms are Carvana certified, which entails a 150 point inspection and have never been in a reported accident and have no frame damage. All Carvana cars have a seven day return policy.

Topics: Mobile Banking, Online Purchasing

Companies: Bank of America, Carvana

Related Content

Latest Content

Feb. 6, 2019

Paytronix Systems Inc. announced an agreement with Jamba Juice to deploy its digital rewards platform and migrate more than 19 million gift and stored value cards to the new system, according to a company release.

"Jamba Juice has multiple types of comp programs and gift card offerings that give our guests the convenience of pre-paid, cashless purchases," Jyoti Lynch, senior vice president and chief information officer at Jamba Juice, said in the announcement.

Lynch said the company needed to automate the manual process of accounting and reporting.

"Paytronix was not only the best choice to tackle the challenges of our POS platform migration and program’s back-end administration, but to position our program for future growth through their robust integration capabilities," Lynch said.

Michelle Tempesta, head of marketing at Paytronix, said the new agreement will help Jamba Juice grow its gift card revenue through new sales channels, including third-party retail as well as enable data analysis.

"Digitized cards transform the ways guests pay for orders, expediting the order process both in store and off premise to serve more guests in a shorter period of time," Tempesta said in the announcement.

Jamba, a unit of Focus Brands, has more than 800 locations globally. Paytronics, based in Newton, Massachusetts, works with more than 490 brands at 27,600 locations.

Topics: Mobile Payments, POS, Restaurants, Retail

Companies: Paytronix Systems, Inc., Jamba Juice

Related Content

Latest Content

Feb. 6, 2019

Guild Mortgage, a San Diego-based independent mortgage lender, launched a mobile app called Guild-to-Go, which allows users to connect directly to Guild loan offers on any mobile device or select loan offers by location, according to a release.

Guild Mortgage agents, after registering, can start loan applications and pre-approval using the app.

“We’re always looking for innovative ways to provide value to our strategic partners,” Mary Ann McGarry, president and CEO of Guild Mortgage. “Guild-to-Go represents the next phase of a more personalized loan experience, while allowing our loan officers to work more efficiently and collaboratively with the real estate community.”

The app is integrated with Guild 360, a suite of sales, marketing and CRM tools powered by Salesforce. The company offers a larger suite of digital loan products, including eClose, which allows customers to review and sign loan documents electronically.  

The company generated $16.5 billion in loans in 2018, and serviced more than 220,000 loans, representing $46 billion in volume.

Topics: Mobile Apps, Technology Providers

Related Content

Latest Content

Feb. 6, 2019

Mastercard named Vocalink CEO Paul Stoddart as its president of new payment platforms, starting March 1, in a company release.

Stoddart has been CEO after Mastercard acquired the firm in 2017. Stoddart, in his new role, will oversee Mastercard's development and integration of real-time payment capabilities, beyond traditional card payments These include Vocalink, the Homesend cross-border payments joint venture and Mastercard Send.

Stoddart succeeds David Yates, who will become a senior adviser on real-time national and cross-border payment strategies, according to the company.

"Paul's industry experience and deep immersion in the business makes him an ideal choice to drive the growth of our account-based payment activities," said Michael Miebach, chief product officer at Mastercard.

Stoddart originally joined Vocalink as managing director, responsible for strategy, corporate development and its U.K. and international products. He is a former president at Western Union and First Data International and also worked at Barclaycard, where he was responsible for mergers and acquisitions and asset disposal.

Topics: Card Brands, Mobile Payments

Companies: Vocalink, MasterCard

Related Content

Latest Content