New York, NY – IntelliPayment, the automobile industry's leader in financial payment acceleration products, today announced a significant milestone for the company. Despite tough economic times, IntelliPayment has experienced explosive growth; expanding by over 100 percent for each of the last three years and enjoying more than a 150% increase in transaction volume last year alone. The company attributes its growth to the increased demand for its newly enhanced payment acceleration products. Auto dealers using these products achieve greater than 50% product penetration over extended periods of time, which allows Per Vehicle Revenue (PVR) to increase meaningfully. The latest version of IntelliPayment will be demonstrated at Booth #4023N, at the 2011 NADA Convention and Expo in San Francisco, CA, February 5-7.

“IntelliPayment obsesses about process and doing business the right way, so dealer principals can sleep at night knowing that their customers are being handled properly,” commented Mickey Cavuoti, Founder & CEO of IntelliPayment.  “Among the savviest entrepreneurs in today’s business world, car dealers are very well-versed in weighing risk/reward. Our financial payment acceleration products offer significant tangible value for all parties without introducing risk to a dealer’s operations. This win-win dynamic, for both the dealer and the customer, has enabled IntelliPayment to expand rapidly despite the challenging economic climate,” Cavuoti added.

IntelliPayment is an easy to use web application which allows F&I managers to enroll customers in a matter of a few minutes; this is key because it doesn’t burden a dealer’s existing F&I resources.  IntelliPayment is integrated with all major DMS providers and commissions are paid up front with no charge backs.

“We are well aware of the stigma attached to past biweekly payment products, which were less than perfect, and we have successfully eliminated the pain points typically associated with biweekly payments since they were first introduced to the automobile market,” added Cavuoti.

IntelliPayment customers benefit by making smaller, more frequent payments, which sync with their paychecks automatically and help them to budget, save interest, accelerate their equity, and ensure their good credit.  The customer is also put into a better position to trade sooner.  IntelliPayment tracks the loan, works seamlessly with any lender, and assists in loan management.

“Given bad experiences we had in the past and heard from others, we were very reluctant to use the product again at our dealerships. IntelliPayment convinced us that partnering with the right company is the key to making the product work. IntelliPayment is definitely the right company, and that’s why we use them,” commented Ray Tantillo, Owner, the Tantillo Group.

About IntelliPayment: (http://www.IntelliPayment.com)
Headquartered in the Empire State Building in New York, IntelliPayment provides innovative financial payment acceleration products through the point-of-sale.  IntelliPayment allows customers to shorten their payment cycles, providing significant financial and service benefits. IntelliPayment’s state of the art payment processes are on the forefront of innovation, ensuring that customers get the highest degree of customer service, efficiency, timeliness, and accuracy.  Businesses and customers both save time and money: it's AutoPay the Intelligent Way.

01/31/11