SYNETIQ, hit the headlines earlier this year when the news broke that the most progressive and successful salvage and dismantling companies in the UK; Motorhog, Car Transplants, FAB Recycling and DH Systems were merging to create a company with significant scale and capacity, operating 16 fully licensed sites across the UK. The merger has seen SYNETIQ, anticipating a first year turnover in excess of £120m, selling over 35,000 vehicles and 250,000 parts, whilst employing over 400 people.
They had further coverage in March 2019, by announcing that it would no longer accept cash payments for vehicle salvage; a move that was lauded by the West Midlands Police, as they looked to foil criminal gangs looking to exploit the salvage vehicle industry and therefore reached out to Gala Technology to deploy their multi-award winning payment technology SOTpay.
Chief Superintendent Chris Todd of West Midlands Police welcomed SYNETIQ’s decision and urged other salvage auction houses to follow suit. “SYNETIQ are setting a great example: they are listening to police concerns over the rise in stolen cars and are taking steps to make it more difficult for crime gangs to exploit the salvage vehicle industry.”
SOTpay enables the organisation to process secure, authenticated transactions across a whole host of engagement channels, whilst ensuring that SYNETIQ adhere to PCI DSS requirements to protect their customers sensitive card information and negate the risk of fraud related chargebacks.
Richard Martin – Group MD of SYNETIQ said “I am delighted that SYNETIQ is leading the industry with regards to compliance and transparency. We have worked closely with our clients and the authorities and will continue to drive up standards and trust, in both our business and the industry. SYNETIQ customers now benefit from a more secure payment process, using the multi-award winning, cloud-based SOTpay technology – making payments easier, more secure and fully PCI DSS compliant.”
