SekurPay

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%.

Few more reasons for choosing SekurPay

Increased Sales:

More Customers can qualify for Finance, Leasing and Rent to own Program’sas 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 rentalcompanies.

Changes Credit Behavior:

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 periodof the payment cycle.

	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

INCREASED SALES, by increasing the size of the consumer market available to finance and automotive retail businesses.

REDUCED DELINQUENCY RATES. This system improves customer payment behavior.

Benchmarks without system

Benchmarks with system

Actuals

Category	Current	Delinquent	Repossessions
Benchmarks without system	72.7%	27.3%	15.0%
Benchmarks with system	95.0%	5.0%	4.0%
Actuals	97.3%	2.8%	2.3%

SekurPay® Standard Programming:
Following contract creation via the Asset Management Solution application the user all of the pertinent payments are uploaded to the contract and a device assigned for installation into the vehicle. The process uses the following information:
	Payment Codes
	Grace Days
	Shut-off time
	GMT Offset

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