Payments Platform Facepay Debuts Guaranteed Text-to-Pay for Auto Repair Shops

Facepay has rolled out guaranteed text-to-pay to help out with credit card chargebacks for auto shops, a press release said.

This will see service advisors sending text or email to customers to notify of balance due, tender payments and releasing vehicles as soon as possible. This will make sure that “every payment made is paid” with balance due payments sent by service advisors, with the simplicity made possible by the shift to a direct banking platform.

The press release noted that all Facepay payments are guaranteed same-day clearing and will be 15% more profitable, with shops working within minutes, avoiding long disputes or confusion.

According to Facepay founder Mark Hale, credit card processors and management systems will be able to use the tech to help out with profitable transactions, abandoning kickbacks and processing fees.

PYMNTS recently wrote that having “no chargebacks” as a talking point is a way to get merchants to pay attention to the idea of crypto payment acceptance.

Read more: How Crypto Shields Merchants Against Chargeback Fraud

It comes down to a factor of the technology, with crypto payments being immutable once they’re on the blockchain. That comes down to a core reason for how blockchain does better for doubles spend.

In crypto, safety from chargebacks entails the idea of the amount of time it would be to be safe from a 51% attack that would let bad actors take over a blockchain. It’s doable on the smaller, less populated blockchains, but impossible on bitcoin and Ethereum, requiring exemplary expertise and resources.

Crypto payments don’t see chargebacks — which is a big deal, as chargebacks were a $35 billion cost for merchants in 2021.

Stephen Pair, CEO of crypto payments technology firm BitPay, told Karen Webster that bitcoin was “way faster” than older modes of finance, because it takes 10 minutes to confirm a payment, while Visa and Mastercard could take 90 days to do so.