At a glittering award ceremony at the Grosvenor House Hotel in London, Elavon, a leading global payments provider and wholly-owned subdidiary of U.S. Bancorp (NYSE: USB), was announced as winner of the Best Merchant Acquiring Initiative for its International Payment Processing (IPP) technology combined with IP Gateway. Elavon reached the finals along with Barclaycard, Cashflows, HSBC Merchant Services and WorldPay.
Elavon’s leading-edge technology, which allows the company to provide better services to its customers and to be highly competitive in the market, was extended and enhanced in 2011. Elavon was the first acquirer to design and create a single, cross-border, multi-lingual/currency IT platform to support businesses with cross-border requirements. This International Processing Platform (IPP) provides streamlined processing with single funding/statement capabilities and gives the company a significant cost advantage through its scale and capacity.
IPP supports more than 100 currencies, cross-border acquiring and multi-currency processing, and provides businesses with value-added services (Dynamic Currency Conversion and Electronic Gift cards, through which additional income can be earned) and global reporting capabilities that create operational and financial efficiencies. IPP was hailed as the best in Europe in 2011 by independent consultants First Annapolis. The company also won the accolade of Acquirer of the Year in June 2011*
Also leading the way in retail business technology, Elavon has introduced the Elavon MobileMerchant, an innovative, affordable and secure payment solution that effectively transforms mobile devices into terminals. Allowing small businesses to accept payments quickly and securely anywhere, anytime, this solution is currently running as part of a pilot programme in the UK, with full production availability scheduled for March.
Combining the ease of using a mobile phone for payments, with an affordable, easy-to-understand rate programme, making it the ideal solution for small businesses on the go.
The App is downloaded onto the merchant’s existing smartphone, and a Bluetooth-connected Chip and PIN device securely captures and encrypts card data, ensuring that no information is stored in the smartphone. Receipts are sent to the customer via email or text message. The solution meets all the current UK banking requirements, so as to protect both cardholders and merchants from fraud, abuse and chargebacks.
“We are delighted to receive this award; it acknowledges several years of very hard work to bring about the advances we were recognised for at the Cards and Payments Awards 2012. Our goal is to make payment acceptance easy for all businesses, regardless of type, size or acceptance environment We have known for some time that our technology platform was one of our strongest assets, this award is a very public, industry acknowledgement of that,” commented Simon Haslam, President International Markets at Elavon.