Case studies / Hyundai

Managing Connected Accounts for Hyundai France with Stripe.

Hyundai Motor Co. partnered with Stripe and Square1 to develop a web portal that unified payment management for their French operations, addressing the complex payment flows and providing real-time insights into transactions. This innovative solution streamlined payment processes, supported the launch of a new car service subscription model, and allowed Hyundai to optimise their payment and dealer management processes, solidifying their position as a leading automotive company in France.

Stripe

France

Motor vehicle sales

Meet Hyundai Motor Co. France

Hyundai Motor Co. the South Korean multinational automotive manufacturer, has a strong presence in France with a range of cars, SUVs and commercial vehicles. The French automotive market is one of the largest in Europe and competition in the industry is high. In recent years, there has been a shift towards environmentally friendly vehicles, with hybrid and electric models becoming increasingly popular. As a result, Hyundai has been investing heavily in developing innovative technologies and launching eco-friendly vehicles, such as the Kona Electric and the Nexo fuel cell vehicle, to meet the changing demands of the French market.

Hyundai Motor Co. has recently announced an exciting new launch, in France, that is set to revolutionise the way customers purchase and maintain their used cars. The company has partnered with Stripe, a leading payment processor and Square1, an award-winning digital agency, to bridge a number of existing systems, helping give Hyundai France a centralised place to manage their offering and its dealers.

Challenge

Streamlining Complex Payment Flows

In 2022, Hyundai France launched three projects that reflect new opportunities for digital sales. Square1 was chosen to create a web portal allowing the Hyundai team to manage its various connected accounts, and to support the team with onboarding their dealers. Hyundai France needed a simple management system that would cater to its diverse group of dealers and customers, while ensuring that existing systems had all of the required information for day-to-day operations, this is where Stripe Connect came into play.

With a network of over 180 dealers operating throughout France, Hyundai faced the challenge of complex payment flows, with multiple stakeholders and legacy software applications involved. A lack of a unified view of payments was a significant problem that our team at Square1 aimed to solve, utilising the Stripe services. This issue resulted in inefficiencies in payment processes, making it challenging for Hyundai to manage their payments effectively and make data-driven decisions regarding their payments. We understood that this problem needed an innovative solution that would streamline payment processes and provide real-time insights into payment transactions. The platform would need to support not only deposit payments for cards, but allow new services to be added.

challenge streamlining complex payment flows

Solution

Unified Payment Management

To overcome this challenge Hyundai turned to Stripe Connect and Square1, to develop a web portal for Hyundai's French business that unifies the view of payments across multiple parts of their operations. Our team of expert software developers implemented this innovative system to improve efficiency and streamline payment processes, while allowing Hyundai to manage complex payment flows from customers to dealers, as well as providing Stripe’s user-friendly Know Your Customer (KYC) tools to make onboarding and regulatory compliance much easier.

Square1 integrated a web application to monitor payments from all customers, utilising three profiles, the first being for Hyundai headquarters as the admin, the second as the salesman of the dealership and lastly as the legal manager of several dealerships, who can see all relevant dealer transactions. These profiles allow Hyundai to view transactions and to send a deposit payment link to the end customer, the headquarter admin is able to create a new dealer and user at any time, ensuring a smooth dealer management process.

Result

Transforming Payment Management

In addition to unifying the view of payments, the payment management system developed by Stripe and Square1 also played a crucial role in supporting Hyundai's launch of a new car service subscription model. Bringing together disparate systems under a consolidated, centralised roof. The tool provided real-time insights into payment transactions, making it easier for Hyundai to manage their subscription model efficiently. The payment management system enabled Hyundai to generate aggregated reporting and management, giving them a comprehensive overview of their payment transactions. This has proven to be a valuable asset in monitoring business performance and addressing customer queries. By using Square1's payment management system, Hyundai has been able to optimise their payment and dealer management processes further solidifying their position as a leading automotive company in France.