OEC Payments: Overview and Account Setup for Dealers

KB Article #7024

OEC Payments is an integrated payment service for buyers and sellers. OEC has partnered with Stripe to collect funds from repair shops for orders they place with dealers and then distribute bulk/consolidated payments to individual dealers for the orders they fulfill. Payments will be made according to the amount of the order. 

IMPORTANT: The OEC Payments workflow is only available to dealers using RepairLink and GM dealers using D2DLink at this time.

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  • OEC is partnering with Stripe to enable payment processing. Stripe is an industry-leading payments provider that helps thousands of businesses facilitate payments in an eCommerce setting.

    Enrollment Fees

    There are no one-time enrollment and no monthly subscription fees for the OEC Payments service. OEC will charge a 3.5% fee, a $0.30 fee for all credit card transactions, and a 2% ACH fee per transaction.

    Enrollment Steps

    To use OEC Payments functionality, dealers will need to:

    1. Complete a set-up process where they will enroll for the Payments service and create a Stripe account that links to their OEC account.
    2. Add a bank account to their Stripe account to receive payouts for payments made for RepairLink orders. Please note that without enrolling in a Stripe account and adding a connected bank account, OEC will not be able to pay out funds for orders placed with your dealership.
    3. Have an Authorized Representative review and accept the terms for the Stripe Services Addendum and the Dealer Consolidated Billing Pricing Exhibit.
      • Stripe Services Addendum—An addendum to the OEConnection Subscriber Agreement.
      • Dealer Consolidated Billing Pricing Exhibit—Discloses the fee for the OEC Payments service.
  • Before enrolling for a Stripe account, the person enrolling via the OEC Dealer Portal should gather the following information from their Accounting Representative. An incomplete enrollment or unverified bank account will prevent payouts to your bank account from processing.

    The following pieces of information will be required during the Stripe enrollment process:

    1. Business Details
      • Legal Name of Business
      • Employer Identification Number (EIN)
      • Registered Business Address (Street Address, City, State / Province, Postal Code, etc.)
      • Business Phone Number
      • Industry
      • Business Website
      • Product Description
    2. Business Structure
      • Registered Business Address (Country)
      • Address (Street Address, City, State / Province, Postal Code, etc.)
      • Type of business (Corporation, Individual / Sole Proprietorship, Non-profit, Partnership - the selection here will determine some of the following details that are asked for)
    3. Business Representative
      • Legal Name (First and Last)
      • Email Address
      • Job Title
      • DOB
      • Home Address (Street Address, City, State / Province, Postal Code, etc.)
      • Phone Number
      • SSN (government-issued ID can be used in lieu of SSN)
      • Yes/No for “Do They Own More than 25% of the company?”
    4. Bank details
      • Currency
      • Financial Institution Name
      • Routing / Transit Number of Account
      • Account Number
  • To set up your OEC Payments account in Stripe:

    IMPORTANT: The OEC Payments workflow is only available to dealers using RepairLink and GM dealers using D2DLink at this time.

    1. From the RepairLink or D2DLink tab, click Application Setup.
    2. Click Payments from the left-hand navigation.
    3. Click Enroll Now to launch the Stripe account setup window. 
    4. Type your Email address and then click Continue.
    5. Create a Password and then click Continue.
    6. Use the up/down arrows to select a country code, then type in a mobile number
    7. Click Send text.
    8. You will be texted an emergency backup code, which should be stored somewhere safe. This will allow you to unlock your Stripe account should your device be lost or stolen. Click Next.
    9. Type the required business details in the fields provided and select country and state. Select Auto parts and accessories as your Industry.
    10. Click Continue
    11. Enter the required details for the business representative. This must be someone who has significant responsibility for your business. You must check the box in the lower left to indicate that the business representative owns at least 25% or more of the company. IMPORTANT: Do not check the box if the representative is not an owner of the company.
    12. Click Continue
    13. Type your bank routing number and account number (twice) in the fields provided.   
    14. Click Continue
    15. Type the required customer support details in the fields provided and select your country and state by using the up/down arrows. 
    16. Click Continue
    17. Review your details and click Submit.

      1. Stripe will review your submission and prompt you to fix any missing or invalid information. Make your changes and click Done. To complete at a later time, click Save for later
    18. Once confirmed, a dealer account is created in the OEC Stripe platform, and the dealer OEC ID will be tied to this account.  
    19. The status of your account is displayed in the Dealer Portal on the Accounts Setup page in the Payments tab. For more information, see the article OEC Payments: Checking Your Stripe Account Status in the Dealer Portal.

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