Elavon, a wholly owned subsidiary of U.S. Bancorp (USB) and a leading global payment solutions provider, announced that it has formed a division to work with enterprise clients in the pursuit of uncovering opportunities to help them lower costs centered around the "three big things" impacting the costs of accepting payments: rates, fraud, and data security.
Elavon's global reach and award-winning international processing platform, best-in-class solutions and knowledgeable teams of local experts, combines to result in the delivery of solutions and services that help companies lower the total cost of acceptance payments. To date, its Professional Services team has created savings of more than $50 million to clients worldwide.
"Companies often focus their attention on negotiating rates and fees in an attempt to shave a few basis points off their costs," said James Ray, senior vice president, Global Accounts at Elavon. "The truth is that every payments-related expense analyzed for efficiency and brought under management drives money straight to the bottom line, providing companies with a tremendous opportunity to unleash savings and redirect spending at initiatives that drive growth. Our Professional Services team is uniquely qualified to consult with companies and uncover cost-saving opportunities."
Elavon leverages its people, processes and technology on three major areas of payment acceptance:
Interchange Advisory & Optimization Solutions that provide a view into how transactions are handled, and advise on remedies to qualify for better rates;
Advanced Fraud & Chargeback Management Tools that lower fraud and improve revenue; along with business processing outsource services that optimize the costs associated with managing chargebacks and fraud;
End-to-End Security & PCI Compliance Solutions that combine advanced point-to-point encryption and tokenization to protect data and mitigate the cost and complexities of PCI compliance.
Elavon starts with a Total Cost of Payments Assessment to identify a company's challenges and determine where their team of experts can help the most. Many of the Professional Services activities do not require an acquiring relationship with Elavon, allowing companies everywhere to lower costs without disrupting existing relationships.