BMW of North America has chosen Stripe, a platform for business financial infrastructure, to support US vehicle preorders as well as online purchases of BMW extended warranties, maintenance, digital services, and more. The agreement comes at a time when automakers are implementing new e-commerce technologies in response to consumer expectations that include digital ease in the car-owning experience.
“Our primary focus at BMW is to create and provide the best premium customer experience for our owners,” said Marcus Casey, chief marketing officer, BMW of North America. “Stripe helps us offer BMW owners a secure and seamless payments experience across all channels.”
BMW consumers may safely pay online with practical debit and credit card options thanks to Stripe. In order to simplify online payments from its US clients to the appropriate BMW dealers, BMW of North America will employ Stripe Connect.
Connect will enable BMW of North America dealers across the US to monitor sales revenue, including that from vehicle preorders. Dealers will receive a complete breakdown of payments from online sales of extended warranties and car maintenance via Connect.
Customers can purchase services and apps for daily use in BMW vehicles through the ConnectedDrive Store. BMW consumers will be able to safely store their card information for next transactions thanks to Stripe, which will power payments for ConnectedDrive. Purchases for ConnectedDrive can be done online and through the My BMW App.
BMW of North America will use Stripe to collect and manage ConnectedDrive revenue that was previously spread over numerous financial records. BMW finance teams will have quicker, more convenient access to critical revenue insights thanks to the consolidation of ConnectedDrive financial data and online sales information on Stripe.
“Stripe is helping BMW of North America enhance the premium automotive shopping experience,” said Mike Clayville, chief revenue officer at Stripe. “We’re thrilled to support their mission of providing the best possible customer experience.”
