It’s critical for merchants to accept online payments in an easy, clear and precise way. After all, providing payments experience and building beneficial relationships with customers is a critical way to grow a business. While there are a number of payment processing options out there, Elavon believes its product stands out from the field in providing superior customer service.
Executive Vice President and General Manager of North American Business, Joe Myers, spoke to RewardExpert about the advantages of using the company for all your payment needs.
A Global Footprint
Executive Vice President
and General Manager
of North American Business
at Elavon
Elavon was founded in Knoxville, Tennessee in 1991. It was acquired by U.S. Bank in 2001 and is today a wholly owned subsidiary of Minneapolis-based U.S. Bank, the fifth largest bank in the country with $467 billion in assets. Today, Elavon processes more than three billion transactions around the world.
Reducing Friction
At its core, Elavon is a payments processor. Solutions are offered for all types of businesses across a variety of industries, from mom and pop shops to the biggest corporations. Elavon’s omni-channel solutions mean that merchants can accept payments anytime, anywhere. “Our main focus is helping our customers take payments wherever they may be and however they want to take it, and specifically focusing on reducing friction for those customers,” said Myers. Whether that means taking payments in a traditional store, online or in the field, Elavon’s technology will work to ensure the merchant has a smooth experience.
Speed is Key
Myers touted Elavon’s processing speed as a key factor in why Elavon stands out from the crowd. “One of the key things that we pride ourselves on is getting our customers paid really quickly,” he said. Fast payment processing can mean more cash flow for a business, which in turn can mean more growth potential.
An Emphasis on Security
It’s not just speed, it’s also safety. Elavon offers security features with its payments technology. “We help secure all the sensitive information that is existing in this environment to the ecosystem and ensure that we keep our customers out of the headlines,” said Myers. Elavon’s security features include EMV (the global standard for chip cards), compliance management solutions, tokenization, encryption and more.
Fly High with Elavon
One of Elavon’s top customer bases is the airline industry. Eight of the top ten airlines in the world use Elavon as their payments processor. If you’re on a flight and paying for an in-flight service, odds are you are using Elavon’s software. In addition, Elavon can also help airlines keep their books in order. “Chargeback management is a key area for airlines to focus on and we have a record that is second to none in defending chargebacks for our airlines and other customers,” said Myers.
Opportunities Abound
Sticking with travel, Elavon also sees big opportunity in the U.S. hotel business. “Last count about 80 of the top hundred hotel management companies were using our solutions in some shape or form. So that’s a very dominant space for us there, too,” Myers pointed out. Other industries where Elavon has a foothold include healthcare, retail, restaurants, services and the public sector.
Building Loyalty
It is these products and a commitment to service that has Elavon’s customers among the most loyal in the industry. “We brag that we have an industry leading metric of lifetime or length of time that a customer stays with us. And it’s twice anyone else in the industry which is important,” said Myers. He also pointed out that Elavon has industry leading metrics when it comes to attrition and account activation. Check out what unique stories customers share about Elavon here.
A Solid Footprint for the Future
Elavon is excited about the future of digital payments, as it’s one of the most transformative industries out there today. Myers said it’s an incredibly exciting time with a huge amount of consolidation. But he added that Elavon, and in turn Elavon’s customers, are lucky to have the backing of a corporation behind everything it does. Find out if Elavon is right for your business by visiting www.elavon.com.