Elavon is an established and leading payment processor that has been managing payments for over 25 years. We have a dedicated Restaurant team that spans leadership, business development, client executives, operations and customer support representatives who have expertise and experience in the restaurant industry.
Our restaurant payment products span all restaurant sizes and types. We can help simplify payment operations as one of the few vendors that manage the entire transaction from end-to-end across acquiring, gateway and security.
The average time from Elavon'sreceipt of your signed, completed application to your equipmentdelivery is approximately 7 business days. This timeframe covers application underwriting and boarding, equipment set up and deployment, and shipping time. Equipment, if required, is sent via UPS 2nd day air unless expedited shipment is requested at the customer’s expense. Upon receipt of your equipment, any necessary training is typically completed within 2-3 business days.
Credit and underwriting reviews are required by Elavon and the card brands to determine if the business type is suitable for participation within the various payment networks. The financial stability of the business or its personal guarantors is a critical component of the account approval process.
Once you receive your equipment and go through a brief telephone training process, you can activate your account. Your equipment is typically deployed within 48 hours of account approval.
Funds are electronically settled within 2 business days. If you opt for Fast Track Funding, our Same Day ACH solution, you can receive your funds within 24 hours of your batch submission (applies to funding payments of $25k or less).
Your account will be charged for all appropriate fees on or around the 5thday of the month following the activity, via an Automated Clearing House (ACH) transaction. The detail of your fees will appear on your customer statement which you receive during the first full business week of the month following the activity.
All bankcard transaction rates, regardless of who processes the transaction, include a cost for "Interchange." Interchange rates represent the fees that VISA and MasterCard collect on card payment transactions to cover the costs associated with the settlement of the transaction with the involvedparties including the card issuing bank. All interchange rates are expressed as a percentage of the total transaction.
Interchange rates vary by type of customer or industry (e.g. retail, restaurant, hotel, mail order) and by the type of bank card theconsumer uses. There are many variables that determine interchange rates as established by the payment card networks. Discuss these with your sales representative to find out what options your business may have.
I’m interested in switching to wireless payment devices. Does it help protect from server-sided fraud?
The customer maintains control of their preferred payment method during the entire payment process. The server never sees the sensitive card information which helps prevent skimming or noting sensitive payment information. It also prevents possible fraud related to tipping. The customer digitally enters the tip amount instead of writing it on a slip of paper. There’s no need to translate what the customer wrote on the slip or making changes to it on the receipt.
Not necessarily. Elavon’s Fusebox gateway works with many processors; however only Elavon certified processors can be activated with EMV. These TPP’s include Elavon, Chase Paymentech, and First Data Merchant Services. Additional TPP’s are undergoing EMV certification.