Virauto is a new safe and instant transaction solution which offers protection against theft when buying and selling a used car.
Virauto is the best alternative to a cashier’s check for payment without any risk between individuals for car transactions.
This internet website and application allows you to send and receive funds for the purchase and sale of a used vehicle securely, quickly and at very low cost.
The Virauto startup was born in mid 2017. Its two co-founders, Philippe Gel and Theophile Noullet, wanted to develop a practicable alternative to the cashier’s check for people selling or buying a used car.
The cashier’s check is according to the two founders an outdated and too unreliable means of payment since it can be falsified easily and the risk of fraud cannot be avoided completely.
Furthermore, once issued, the amount of the cashier’s check can no longer be changed, which does not leave for the buyer the ability to negotiate the price of the used vehicle in front of the vehicle.
This can become a problem for such transaction as there are many parts to verify and the car condition in reality is rarely as described by the sellet.
Without Virauto, all negotiation terms must be discussed and prepared in advance which may be very complicated to reach.
With the Fintech Virauto, the two young entrepreneurs achieved their objective since they developed a reliable, secure, accessible and affordable payment application.
Going to a banking establishment to issue or cash a cashier’s check is not mandatory anymore with Virauto as payment can be managed entirely from a smartphone, with relatively quick payment processing times.
The service is free for the buyer. The payment amount can be conveniently modified at the very last minute by the buyer depending on negociation terms during the car review.
Support service is available 6 days a week. One can even imagine that Fintech Virauto will develop its services for other types of purchases in the future!
Original and innovative, this application has already attracted large companies, it is indeed supported by BNP Paribas and LCL which are well-known french banks.
Virauto is an excellent solution if you want to buy or sell a used car under the safest conditions.
