ATLANTA, Oct. 10, 2018 /PRNewswire/ -- Clutch Technologies (driveclutch.com), today announced Clutch Payments, the first end-to-end billing and payments solution for the automotive subscription market. Built on Stripe Connect, Clutch Payments employs the same secure, reliable payments infrastructure that underpins Stripe's entire technology stack, tightly integrated with Clutch's proprietary billing engine. Clutch's customers will soon be able to take advantage of this seamless way to manage billing and payments for their subscription businesses.
Vince Zappa, President of Clutch Technologies noted, "Dealers and OEMs want a single subscription platform that covers everything they need, while offering the flexibility to adapt as their subscription business grows." Zappa continued, "Billing and payments are among the most critical elements of the subscription ecosystem and we are pleased to be able to provide these capabilities for our customers."
Clutch Payments delivers:
- A turn-key software solution, unified interface, and scalable infrastructure for subscription providers that includes billing, payments, and administration.
- Certified compliance with the highest industry standards.
- Superior rates for payment processing, including options to save via debit cards or ACH.
- The ability to offer customized, flexible subscription plans, including metering miles, charging for overages, and applying discounts.
- Options to divide payments and route portions to third parties such as insurers, financing companies, roadside assistance, and others.
"Shoppers are increasingly inclined to buy everyday items—from meal-kits to beauty supplies and, now, their cars—via subscription services," said Richard Alfonsi, Stripe's head of global revenue and growth. "In fact, our research shows that 32 percent of consumers would prefer to sign up for a subscription than make a one-off purchase. We're thrilled to work with Clutch to make it easier for dealers and OEMs to reach customers."
Clutch Technologies has developed a software platform that lets the automotive industry offer vehicle subscription to engage consumers and build sustained relationships. Leveraging Clutch's technology, dealers and OEMs can turn subscribers into lifelong customers by matching the right vehicle to the right customer every time, while also maintaining an efficient ratio of vehicles to subscribers. Clutch partners with dealers and OEMs to power subscription in 26 states around the country. The company is a wholly owned subsidiary of Cox Automotive. Learn more about Clutch at driveclutch.com.
SOURCE Clutch Technologies