September 2019

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Token Migration Update

As previously shared, Elavon is migrating to a new token provider in order to take advantage of the current advancements in securing sensitive payment data. Most merchant customers are not affected by this behind-the-scenes migration.

However, merchant customers using Elavon’s token process through a third party value-added reseller (VAR) that is certified to Elavon’s Encompass or ViaConex must take action. They can expect to receive a notification soon that includes required technical specifications so that their platform will be able to accept the new token format. We will work with customers individually on timing for integration and certification.

Elavon Awarded for Gateway Excellence

We are pleased to share that Elavon’s Fusebox was recognized for both “Best Performing Gateway” and “Fastest Transactions” by The Strawhecker Group (TSG) when it announced its annual Real Transaction Metrics Awards (link opens in separate tab) in July.

According to TSG, the acknowledgements are based on the gateway’s “exceptional performance across transaction and gateway check benchmarks,” and for its “fastest average transaction speed” as a consumer would experience at a merchant’s business. TSG is a leading analytics and consulting firm focused on the payments acceptance industry.

Earlier this year, Elavon was the only triple winner in the 2019 Card Not Present (CNP) Awards (link opens in separate tab).

A panel of five independent judges named ConvergeTM the best gateway and Elavon the best payment processor. Customers also named Elavon best payment processor. The CNP Awards honor companies, programs and solutions that have distinguished themselves in the card-not-present space throughout the year.

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Fall Card Brand Enhancements & Approaching Deadlines

Each April and October we publish a  Card Brand Enhancements Bulletin (link opens in separate tab) to help keep our partners updated on the latest changes introduced by the card brands. We encourage you to read the Bulletin, which highlights the latest mandates that carry potential financial or compliance impact or affect product technical requirements.

Additionally, we’ve called out below upcoming October deadlines that may require action by you and/or your customers, as well as action-required deadlines looming in the future.

NEW – Online authorization of all credit return/refunds

Beginning in October 2019, online credit return/refund authorization will be available for Visa, Mastercard and Discover. This will become a merchant-level requirement in April 2020. Elavon encourages the online submission of refund requests for all other brands as well. This will allow cardholder visibility of the refund being accepted by the merchant business.

REMINDER - October 18, 2019 Mandate Deadlines
Visa - All applications accepting  Visa (link opens in separate tab) contactless payments must be capable of using qVSDC (EMV Contactless). Additionally, for Visa-related card acceptance, the Contactless Magstripe Mode must be removed from the point-of-service device level. Otherwise, merchants could face network fines and assessments from Visa.

Mastercard – The brand already requires EMV contact-capable devices that offer contactless card payment entry be capable of accepting EMV contactless card payments. However, the brand has revised the standard:

  • Newly deployed devices can only support EMV Mode Contactless and must not have Contactless MSD (Magstripe mode contactless).

  • EMV Mode Contactless must be enabled for Mastercard and Maestro if the POS device (new or existing) is already EMV Mode Contactless enabled for competing card brands that support contactless MSD.

Discover - Discover is reducing the timeframe for issuers and acquirers to file a Dispute Arbitration from 30 days to 10 days. Discover is also reducing the timeframe for acquirers and merchants to re-present a dispute from 45 days to 30 days. Merchants should prepare for this change by changing their dispute notification methods from mail to facsimile or email notification, and be prepared to respond to a dispute within the new timeframe.

LOOKING AHEAD - Future Mandate Deadlines Mastercard - By April 1, 2023, Mastercard requires that all POS devices in the field remove support of Contactless Magstripe mode. All devices supporting contactless must have EMV-mode contactless enabled.

Please don’t hesitate to give us a call if you have any questions.

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Partnership: A Whole Greater than Its Parts

Much has been written about how collaboration improves the customer experience. While partner and customer focus is a part of everything we do, we also recognize that to create an ever-expanding universe of revolutionary payment solutions, success hinges on dynamic partnerships.

This means that, while Elavon teams are committed to providing you with innovative solutions that create accelerated growth – all backed by the global expertise of a trusted and reliable partner – the fact is, none of this would be possible without shared vision, goals and mutually beneficial outcomes with our partners.

“The relationship with our integrated partners ensures our mutual customers have access to the best overall products, services and customer experience. It’s an avenue of growth where both Elavon and our integrated partners win,” says Tracy Ryley, IPS Partner Development Manager.

Building Mutually Beneficial Relationships

To ensure our partnerships are a win-win, “we look for those who are as invested as we are in industry trends, innovative solutions, and business practices that ensure positive, productive working relationships,” says Sarah Gwaltney, Vice President and Head of IPS Partner Development.

To do that, the Integrated Payments Solutions (IPS) team is made up of more than 80 people aligned to support the different phases of the partnership life cycle. “At each stage, we have a commitment to align to your expectations, maintain open channels of communication, and remain easy to do business with,” says Margee Godwin, VP of IPS Healthcare Strategic Partners.

Once you plug into the Elavon ecosystem, you become more than a partner; you are considered a part of our integrated family. Our partnership becomes as much about our relationship as it is about technology.

“There is a lot of satisfaction in working in a synergistic way and sharing an enthusiasm for creating a whole that is greater than the sum of its parts,” says Janice Carter, IPS Partner Development Manager.

While our partners broaden our ability to execute successfully upon merchant opportunities, it is important to us that you, too, discover the full potential of the partnership.

“It is essential that Elavon continues to develop solutions that meet the current and future customer needs. We aim to keep our integrated family up-to-date on industry compliance requirements, and provide competitive revenue share models that allow you to generate profitable revenue,” says Michael McHugh, Senior Director, IPS Partner Development.

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Payments: It's About to Get Real (Time)

By Sara Cichoski, Elavon Vice President of Core Acquiring Product Management

Indicative of a world where most things digital equate to instantaneous turnaround, research shows that 90 percent of businesses also expect real-time payment for their batched transactions (link opens in separate tab).

Yet, the speed at which funds transfer between a merchant account and its U.S. funding institution still commonly lags between 24 hours to 2 business days – depriving many merchants of the economic benefits of funding to match the speed at which they do business.

Cash flow predictability and accurate payment reconciliation empowers merchants to better manage their day-to-day expenses, payroll and operational needs. How? By knowing exactly when, and for what amount, their funding from a day’s batch will be available for use in their bank account. This helps merchants eliminate some of the juggling required when managing large drafts from their account, such as payday, versus the days waiting to receive funding.

Who is Driving Change?
In response to modern-day expectations, a coalition of some of the country’s largest banks, called The Clearing House (link opens in separate tab), developed a real-time payments (RTP) network in late 2017 that is helping drive a transformation in the U.S. banking and financial services ecosystem.

This RTP network is the first new core payments infrastructure in the U.S. in more than 40 years. It is open to all federally insured U.S. depository institutions to immediately receive and access funds 24 hours a day, 7 days a week, when sent over the RTP network. Already, that network reaches over 50 percent of U.S. transaction accounts and is on a path to reach nearly all U.S. accounts by 2020 (link opens in separate tab).

Also recognizing the economic value that real-time, round-the-clock payments and settlement systems can bring to an economy, the Federal Reserve announced it is considering its own system to speed adoption and put real-time payments within the reach of all banks and communities.

Technology Innovators Aligning Resources
While our country is still in the early phases of building out a brand-new payment rail, there is tremendous possibility for improving how businesses and consumers move money.

As payments technology innovators, we at Elavon are already working on leveraging the RTP system and are dedicated to furthering funding at the speed of business. Stay tuned for more on how you can leverage your partnership with Elavon to bring real-time payments to industries you support.

Thank you for your partnership. Please don’t hesitate to reach out to your Elavon representative at any time and on any topic.

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©2019 Elavon Inc. Elavon is a trademark in the United States and other countries. All rights reserved. This document is prepared by Elavon as a service for its IPS partners. The information discussed is general in nature and may not apply to any specific situation.