Executive View: Payments innovation in the automotive industry

Executive View: Payments innovation in the automotive industry

Open banking will provide a useful solution for franchised dealer groups which are reliant on expensive and inefficient card payments and bank transfers, argues Cian O’Dowd, co-founder and chief operating officer of Atoa, an FCA authorised payment institution.

Why BYD’s 60-Day Supplier Payment Pledge Could Reshape China’s Auto Industry

Major Chinese car manufacturers – from EV leader BYD to legacy state-owned giants – have publicly pledged to pay their parts suppliers within 60 days of delivery . This industry-wide initiative comes on the heels of an intense price war in China’s auto market and mounting pressure from both regulators and suppliers. In early June 2025, at least 14 to 17 automakers including BYD, Chery, Geely, Great Wall Motor, SAIC, FAW, Dongfeng, GAC, Changan, …