
SekurPay® is a patented legal electronic starter interrupt unit that motivates high-credit-risk customers to pay in a timely manner. It solves the finance dilemma by making it possible for a car buyer to purchase and finance a vehicle.
SekurPay® shifts the burden of collecting car loans from the lender to the borrower because it changes payment behavior. SekurPay® can increase cash flow 29-38%. SekurPay® system is compliant with all state and provincial consumer protection laws. It's tamper-proof.
According to CNW Marketing Research, which conducted a 6-year study, customers with SekurPay® are current with their installment payments 97.22% of the time, compared to those customers without the system who are current only 72.79% of the time. Delinquencies dropped from 27.21% to 2.27% and repossessions fell from 15% to 2.10%.
- Why Sekurpay®?
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FEW MORE REASONS FOR CHOOSING SEKURPAY®
Increased Sales:
- More Customers can qualify for Finance, Leasing and Rent to own Programs Finance Company now has an Asset Protection Solution.
- High Customer Satisfaction:
- SekurPay® allows more car buyers to re-establish their credit and qualify for lower interest loans.
- SekurPay® leads to a better managed and updated documentation for the finance, leasing and rental companies.
Changes Credit Behaviour:
- 95-98% of customers with SekurPay® in their car make their payments in a timely manner. SekurPay® is not simply a device it's a COMPLETE SYSTEM that changes payment behavior.
Safety:
- SekurPay® is the only payment assurance solution that has been tested in the US Courts and ruled "the Consumers are safe with the SekurPay® Flex Device".
- Thus in cases where a client wishes to make pay a partial payment of the scheduled installment the system automatically adjusts the next payment to the proportionate period of the payment cycle.
- BENEFITS
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BENEFITS OF SEKURPAY®
- SekurPay® has no privacy issues for the customer as it does not track their movements.
- SekurPay® has no moving parts to malfunction and has no effects on the electronic computer module or Factory Warranty of vehicles.
- SekurPay® will only render the vehicle inoperable if the car is stationary and turned off. it cannot disable a vehicle while the engine is running, this fact together with the emergency enable function, makes using SekurPay® completely safe for the driver.
- SekurPay® ensures payment periods remains as stated in the installment sales contract.
- SekurPay® is a proven payment assurance solution that is securitizing assets to the value of 1.2 Billion USD.
- SekurPay® is the only Tamper-Resistant payment assurance solution
- Features
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SEKURPAY® FLEXIBLE PROGRAMMING:
Following contract creation via the Asset Management Solution offers flexibility to those organizations where payments are required to be managed in a less regular manner. This enhancement offers the following key benefits to such organizations in terms of flexible contract management and installation procedures:
SIMPLIFIES THE MANAGEMENT OF CONTRACTS
NO "CATCH UP CODES" REQUIRED WHERE PREVIOUS PAYMENTS HAVE BEEN MISSED
SIMPLIFIES PRE-INSTALLATION
Such flexibility allows the company to accept partial payments and enable the vehicle for proportionate periods. Thus in cases where a client wishes to pay half of the scheduled installment it is possible to enable the vehicle for a proportionate period which would enable the vehicle automatically adjusting the next payment to the proportionate period of the payment cycle.
The flexibility makes it possible to change a number of contract parameters without reprogramming the device. It also facilitates the extension of an existing contract or creation of a sub contract without reprogramming the device, thus eliminating the need for interacting with the device. This facilitates changes to the following:
- Number of installments
- Installment date
- Amount of Installment
- Payment Codes