Motorway has introduced real time payments to its Motorway Pay platform to enable dealers to transfer funds for vehicles at the point of purchase.
It said one year on from launch, the platform has handled £1.2bn in completed payments, with hundreds of dealers now managing vehicle purchases through the platform.
The platform is now also offering online withdrawals, with dealers able to move money in and out of their Motorway Pay wallet at any time.
The dealer’s funds are protected and only authorised users will have access to withdraw funds..
James Wilson, COO at Motorway, said: “When we launched Motorway Pay last year, our mission was to build a powerful, secure, and robust solution that makes buying cars on Motorway easier than ever before.
“This is just the start of more to come, as part of our ongoing commitment to maximising value through technology and supporting our dealer partners to grow their businesses profitably.”