Websites using Elavon

Okay, let s break down Elavon, covering its overview, revenue, alternatives, pricing, and customer care.

Elavon: Overview

Elavon is a leading global payment processor owned by U.S. Bancorp (USB). They provide a wide range of payment processing solutions to businesses of all sizes, from small startups to large enterprises. They operate in the U.S., Canada, Mexico, Europe (primarily through Elavon Financial Services DAC), and Latin America.

• Key Services:

  • Credit and Debit Card Processing: Accepting major card brands (Visa, Mastercard, American Express, Discover).
  • Mobile Payments: Supporting mobile wallets (Apple Pay, Google Pay, Samsung Pay).
  • Online Payments/eCommerce: Payment gateways, virtual terminals, and integrations for online stores.
  • Point-of-Sale (POS) Systems: Elavon offers a range of POS hardware and software solutions, sometimes integrated with partners.
  • Payment Security: Solutions for PCI compliance, tokenization, and fraud prevention.
  • Business Management Tools: Reporting, analytics, and other tools to help businesses manage their payment data.
  • Integrated Payments: Solutions that integrate directly with a business s existing software (e.g., accounting, CRM).
  • Gift Card and Loyalty Programs: Customized programs to attract and retain customers.

• Target Customers:

  • Retail
  • Restaurants and Hospitality
  • Healthcare
  • Professional Services
  • Government
  • eCommerce businesses

• Strengths:

  • Large and Established: Reputable and financially stable due to being owned by U.S. Bancorp.
  • Comprehensive Solutions: Offers a wide array of payment processing options.
  • Global Reach: Ability to support businesses operating in multiple countries.
  • Integrated Solutions: Focus on integrating payments with other business systems.
  • Security Focus: Investments in security and compliance.

• Weaknesses:

  • Contract Lengths: Elavon is known for its relatively long and sometimes complex contracts.
  • Customer Service: Customer service quality is a common point of criticism in reviews (more below).
  • Pricing Transparency: Pricing can be difficult to understand upfront.
  • Early Termination Fees: High early termination fees are common if you break your contract.

Revenue

Elavon does not publicly disclose its exact revenue figures as a separate entity. However, its parent company, U.S. Bancorp, reports revenue for its Payment Services division, which includes Elavon.

• To get an idea of the scale, U.S. Bancorp s Payment Services division typically generates billions of dollars in revenue annually. You can find details in U.S. Bancorp s quarterly and annual reports, usually in the investor relations section of their website.

Alternatives to Elavon

There are numerous payment processors available, each with its own strengths and weaknesses. Here are some popular alternatives to consider:

• Stripe: Excellent for online businesses, developers, and businesses needing flexible APIs. Known for its ease of integration and transparent pricing.
• Square: Popular with small businesses, retailers, and restaurants. Simple pricing, user-friendly POS system, and easy setup.
• PayPal: A well-known and trusted platform for online payments. Good for businesses of all sizes, especially those selling internationally. Offers both standard PayPal and Braintree (more developer-focused).
• Worldpay (FIS): One of the largest payment processors globally, serving businesses of all sizes. Strong in enterprise-level solutions and integrated payments.
• Adyen: A global payment platform popular with large online merchants. Focuses on unified commerce and international payments.
• Authorize.net: A popular payment gateway owned by Visa. It integrates with many different POS systems and shopping carts.
• Chase Payment Solutions: Offered by JPMorgan Chase. Integrated with Chase banking services.
• First Data (Fiserv): A large payment processor serving businesses of all sizes, especially those with complex needs.

When choosing an alternative, consider:

• Your business type: Online, retail, restaurant, etc.
• Your business size: Startup, small business, large enterprise.
• Your technical needs: API integrations, POS system requirements.
• Your budget: Transaction fees, monthly fees, hardware costs.
• Your customer service preferences: Phone support, online chat, etc.

Pricing

Elavon s pricing is not always transparent and can be complex. It often depends on the type of business, transaction volume, and specific services required. Here s a general overview:

• Common Pricing Models:

  • Interchange-Plus Pricing: The most transparent pricing model. You pay the interchange fees (set by Visa, Mastercard, etc.) plus a markup (a percentage and/or a flat fee). Elavon may or may not offer this model readily.
  • Tiered Pricing: Transactions are grouped into tiers (e.g., qualified, mid-qualified, non-qualified) based on card type and how the card is processed. Each tier has a different rate. This model is often less transparent and can be more expensive.
  • Flat-Rate Pricing: A single rate for all transactions. Popularized by Square and PayPal. Elavon is less likely to use this model, but it is the most simple to calculate.

• Fees to Watch Out For:

  • Transaction Fees: A percentage of each transaction plus a per-transaction fee (e.g., 2.9% + $0.30).
  • Monthly Fees: A monthly fee for using Elavon s services.
  • Statement Fees: Fees for receiving paper or online statements.
  • PCI Compliance Fees: Fees for ensuring your business is PCI compliant.
  • Chargeback Fees: Fees for handling chargebacks (when a customer disputes a transaction).
  • Early Termination Fees (ETF): A significant fee if you cancel your contract before it expires. This is a major concern with Elavon.
  • Setup Fees: Fees for setting up your account.
  • Equipment Fees: Fees for renting or purchasing POS terminals or other hardware.

• Negotiating Pricing:

  • It s crucial to negotiate pricing with Elavon. Be sure to compare offers from multiple providers and ask for a detailed breakdown of all fees.
  • Inquire about volume discounts if you process a large number of transactions.
  • Be wary of long-term contracts with high early termination fees.
• Important Notes:
  • Always read the fine print carefully before signing a contract.
  • Understand the different pricing models and how they will impact your costs.
  • Don t be afraid to walk away if you re not comfortable with the terms.

Customer Care

Customer service is a common area of concern for Elavon customers.

• Common Complaints:
  • Long Hold Times: Difficulty reaching customer service representatives.
  • Unresolved Issues: Problems not being resolved in a timely manner.
  • Lack of Transparency: Difficulty getting clear answers to questions.
  • Contract Issues: Problems with understanding and canceling contracts.
• Support Channels:
  • Phone Support: Elavon offers phone support, but wait times can be long.
  • Online Support Portal: A website with FAQs and other resources.
  • Email Support: May be available, but response times can vary.
  • Dedicated Account Manager: Some larger businesses may have a dedicated account manager.
• Tips for Dealing with Customer Service:
  • Be Prepared: Have your account information and transaction details readily available.
  • Be Persistent: Don t give up if your issue isn t resolved immediately.
  • Document Everything: Keep records of all communication with Elavon.
  • Escalate Issues: If you re not getting help from the first-line support, ask to speak to a supervisor or manager.
  • Consider Social Media: Sometimes contacting them via their social media channels (Twitter, LinkedIn) can get a quicker response.
• Due Diligence:
  • Before signing up with Elavon, read online reviews and check their rating with the Better Business Bureau (BBB). Pay close attention to customer service feedback.

In summary: Elavon is a large, established payment processor with a comprehensive suite of services. However, it s important to carefully consider its pricing, contract terms, and customer service reputation before making a decision. Compare it against alternatives to see which best suits your needs.