Here’s how a bank and a dealer group are working together to solve concerns for both consumers and dealerships.

U.S. Bank and Driveway are collaborating to pay vehicle sellers immediately with real-time payments, making Driveway the first online dealership to pay customers over the RTP network, according to a news release distributed on Wednesday.

U.S. Bank explained customers selling a vehicle on Driveway.com now can have the payment deposited instantly into their bank account after a sale is complete and before the vehicle even leaves their driveway and heads to the dealership to be a vital piece of inventory in a tight market.

Prior to this advancement, the bank acknowledged that customers waited 24 to 48 hours to be paid via ACH or several days via physical check.

The announcement indicated Driveway approached U.S. Bank a year ago to develop a payment solution that would be nearly frictionless and reduce the amount of time it took for online vehicle sellers to receive their payment. U.S. Bank said it brought the challenge to its global treasury management innovation studio to identify and test the best solution for Driveway.

Here’s how the process is designed to work.

After a Driveway customer enters details about their vehicle, they receive an instant quote. If the customer wants to proceed, they receive an email invitation to provide their payment and bank details via a Driveway and U.S. Bank co-branded digital payment portal.

Following an in-person inspection by a Driveway valet and finalized sale, the payment is instantly deposited into the car seller’s bank account via the RTP network.

“We’re proud to deliver a new RTP solution that creates a faster, safer and more convenient payment experience for Driveway and its customers,” said Shailesh Kotwal, vice chair of U.S. Bank Payment Services. “Those selling cars on Driveway.com will benefit from an instant, frictionless payment experience while Driveway will achieve greater customer satisfaction from their innovative payment process.

“We look forward to working with innovative companies like Driveway in every industry to find RTP solutions that deliver instant value both internally and for their customers,” Kotwal continued in the news release.

The bank added that real-time payments will be available to Driveway customers following a pilot, which is now underway in Portland, Ore.

“RTP’s instant-payment solution is another innovative offering providing customer optionality, transparency and convenience in Driveway’s digital, buying-and-selling ecosystem,” Lithia and Driveway president and chief executive officer Bryan DeBoer said.

“Our new partnership with U.S. Bank empowers Driveway to provide full and immediate payment to customers, further modernizing our personal transportation solutions for consumers wherever, whenever, and however they desire,” DeBoer went on to say.