Thursday, June 26, 2008
Elavon to Provide Currency Conversion Services for HMSHost
By Holly Lytle
Currency Solution Adopted for Airports and Travel Services
June 26, 2008
Elavon, a global payments processor, has implemented its Dynamic Currency Conversion (DCC) solution at HMSHost concession services outlets in Ireland's Shannon and Cork airports. The announcement marks the beginning of a relationship between Elavon and Servebase, a payments software provider, to market Chip & PIN; DCC solutions; and Acquiring Services to businesses in the hospitality and travel industry.
Jaime Domingo, Head of Business Development, Europe for Elavon comments:
"Providing merchants' customers with point-of-sale certainty is a valuable service asset. The ability to integrate our DCC processing services with Servebase's PC-EFT solutions extends a powerful combination of convenience and financial efficiency to organisations like HMSHost. We look forward to expanding our distribution in the hospitality industry through the Servebase relationship."
Elavon's DCC solution enables HMSHost to conduct credit and debit card transactions in the cardholder's home currency, extending convenience to travellers by eliminating the need to calculate exchange rates. The transaction reduces back-end conversion fees typically assessed on the cardholder's credit card statement.
Elavon is one of the largest DCC providers in Europe providing end-to-end control of the DCC process - from obtaining direct treasury exchange rates, to authorisation, reconciliation, settlement and funding. Elavon's direct DCC offering makes it easy to service merchant customers and resolve any currency conversion issues that may arise.
Erik Wouterson, Senior System Engineer of HMSHost comments:
"We have been very pleased with the results of our currency conversion implementations in Shannon and Cork airports in Ireland and look forward to implementing these services across other airport and motorway locations. The combination of Elavon's DCC and Servebase's IT solution has simultaneously improved internal efficiencies and customer satisfaction."
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Elavon's Global Acquiring Solutions organisation is a part of U.S. Bancorp (NYSE: USB). Elavon provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Canada and Puerto Rico. Solutions include credit and debit card processing, electronic check services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring. Elavon's services are marketed through multiple alliance partner channels including financial institutions, trade associations and ISOs. Elavon has solutions to meet the needs of merchants in specialised markets including small business, retail, hospitality/T&E, health care, education and the public sector. Elavon represents the former brands of NOVA Information Systems and its affiliates FHMS and euroConex. For more information visit www.elavon.com.
Elavon Financial Services Limited is regulated by the Financial Regulator
Servebase Global Card Solutions is a provider of EFTPOS and Card Processing Software. Established for 21 years, the Servebase team of software specialists serves a client base of more than 1500, processing over £8bn of transactions per annum. For more information visit www.servebase.com.
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HMSHost, formerly known as Host Marriott Services, is world-renowned for creating innovative concession plans in travel venues. HMSHost has revenues of more than $2.0 billion and is a wholly owned subsidiary of Autogrill S.p.A. Together, HMSHost, HMSHost Europe and the rest of the Autogrill Group are recognized leaders in retail, food and beverage concessions serving people on the move. With operations in 42 countries around the globe, the combined Company has generated sales exceeding $4.8 billion in 2007.