" "

Carwow launches digital wallet in partnership with Airwallex

Carwow launches digital wallet in partnership with Airwallex

Carwow, an online car-buying platform, has launched a digital payment solution to simplify transactions for dealers purchasing vehicles through its daily online auctions. The Carwow Wallet, developed in partnership with global payments provider Airwallex, enables dealers to complete payments instantly and securely.

The new service, which comes at no cost to retailers, allows payments to multiple beneficiaries, including private sellers and finance houses, and can manage any negative equity balance. Dealers opting in will have access to a digital wallet within their Carwow account, providing a centralised platform to store, transfer and track funds.

Sally Foote, Chief Commercial Officer at Carwow, said the service is designed to remove payment delays. “There are many operational hurdles that limit the ability of large dealer groups to arrange same-day payments when purchasing cars from private sellers,” she said. “Our goal is to make the process as quick and simple as possible.”

Edward Ford from Fords of Winsford welcomed the move, stating that it has “saved massive amounts of time and resources” while improving the experience for sellers.

Carwow Wallet is currently available to enterprise dealer groups, with plans to roll it out to independent retailers later this year.


Explore additional categories

Explore Other Classes