Elavon Merchant Services

Elavon Merchant Services
  • Editor Rating

  • Rated 3 stars
  • Good

  • Elavon Merchant Services
  • Reviewed by:
  • Published on:
  • Last modified: August 18, 2015
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Review Summary:

Elavon Merchant Services is one of the larger ISOs we have reviewed, while not a bad choice they do have high fees, specifically cancellation, that result in our recommending merchants perform their due diligence before signing a contract.

Elavon Merchant Services
  • Elavon Merchant Services
  • Rating: 3
  • Reviewed by:
  • Published on: February 25, 2015
  • Last modified: August 18, 2015

Review Summary:

Elavon Merchant Services is one of the larger ISOs we have reviewed, while not a bad choice they do have high fees, specifically cancellation, that result in our recommending merchants perform their due diligence before signing a contract.

View our Top Ranked Processor

Elavon, based in Atlanta, Georgia, offers merchants payment-processing services. Customers range from worldwide corporations to small businesses, so Elavon has payment services that fit every business. The company has been rated among the top five payment providers, and Elavon’s processing platform ensures that transactions are secure. Yearly, Elavon processes over three billion transactions for over 1.2 million customers. The company’s values include mutual trust, individual accountability, teamwork, diverse culture and thought, execution excellence, and leadership through service. In 2012, Elavon won the Best Merchant Acquiring Initiative for its processing platform.

Because Elavon is such a large company with so many global businesses to keep track of, small businesses may not receive the same level of customer support as their larger counterparts. Furthermore, small businesses do not have the same array of options that are routinely offered to global businesses. The number of complaints against Elavon on the Better Business Bureau numbered about 300, but that is about average considering the size of the company.

The majority of these complaints are in regards to billing or collection issues, which is not surprising considering that Elavon charges merchants a $175 PCI compliance fee. Elavon is not required to pass this cost on to merchants, and many payment processors do not, but customers should be aware that the fee will be charged to their account. Another fee that Elavon will charge merchants is an early termination fee. Contracts with Elavon last three years; merchants who decide to close their account before the first year can expect to pay $295 in cancellation fees. Canceling in the second or third year will cost merchants $195.

Though Elavon has had around 300 complaints on the Better Business Bureau, the company has closed about 285 of them. Elavon’s rating on the BBB is an A+ because of the company’s quick response to the complaints.

One benefit of using Elavon is that the company processes payments for businesses of all sizes and has consolidated payment processing. Merchants will only be interacting with Elavon; there are no third parties involved. Because Elavon services so many merchants, the company has plans that should fit most businesses. However, if the plans available do not appeal to merchants, they may contact Elavon and set up an individual plan.

Before You Sign A Contract!

We recommend that all merchants speak with at least 2 processors before signing their contract. Why?…

First – You should feel comfortable with the sales representative, if you’re feeling pressure on the call or feel as though you are not a focus, it’s unlikely your experience will improve after signing your contract!

Second – Be wary of introductory rates (specifically qualified rates) in the initial pitch – each business is unique and the rates/fees that will actually save your business the most, are only available once the sales representative has learned about your business.

We currently have Cayan listed as our top ranked merchant service provider. However if they do not fit your needs, you can look through our full list of processors and find the one that is right for your business here.

For small businesses, Elavon offers two payment processing plans: a terminal offer and a mobile offer, each with a monthly fee of $10 and rates of 2.65% plus 19 cents per transaction for swiped cards and 3.5% plus 19 cents per transaction for key entered cards. Elavon also offers VirtualMerchant Mobile, which allows smartphones to accept swiped or key entered cards.

Global businesses can take advantage of Elavon’s innovative processing platform; its stability makes domestic, inter-regional, and international credit card transactions simpler. Larger businesses have more options and can choose from four payment processing solutions, including credit and debit cards, electronic check service, mobile payments, and online payments. The electronic check service securely converts paper checks into electronic transactions that save merchants money and time. Mobile payments and online payments are handled through VirtualMerchant. Another plus for businesses that operate across borders is Elavon’s currency conversion. The currency conversion recognizes most currencies and updates conversion rates frequently.

Merchants who have had problems with security in the past will benefit from Elavon’s commitment to keeping credit card date secure. The company offers a SAFE-T Suite that eliminates cardholder data from terminals, protecting a business’s bottom line.

Businesses operating on a global scale would benefit the most from Elavon’s services, as the company caters more towards large sectors and gives them a variety of processing options. However, smaller businesses may find that Elavon is a good fit for them, taking advantage of the company’s commitment to security and easing the payment processing system.

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SMB Reviews
SMB Reviews 492 posts

SMBReviews is committed to providing small and mid-sized business owners with the information and resources they need to select the best service or product for their company.

Editor review

Costs
3/5
Sales
3/5
Customer Service
3.5/5
Ratings
3.25/5

3.19

Average
3.19
Summary

Elavon Merchant Services is one of the larger ISOs we have reviewed, while not a bad choice they do have high fees, specifically cancellation, that result in our recommending merchants perform their due diligence before signing a contract.

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5 Comments

  1. C Davis
    August 19, 22:58 Reply
    Terrible company! Lured in by promises of saving money... am now spending twice what I was before switching to Elavon. Also, there are many hidden fees: I have to pay to have access to my online account, I have to pay to get a copy mailed to me, I have to pay if I don't reach a specific "minimum" monthly quota... ALSO, have pay 1) per swipe fee, 2) $.10 per swipe fee, 3) .01% per swipe fee, 4) % CC company charges me, 5) % Elavon charges me, 6) % CC company charges Elavon.... this averages out to around 7% per swipe!! I will be FAR better off to move to the Square w a MUCH lower, upfront, simple rate.
    • Small Business Reviews
      August 20, 19:20 Reply
      C Davis, I'm terribly sorry you're dealing with so many issues with Elavon. Unfortunately as we noted in our review, you're not the first individual to have run into some issues. The issues you are describing are definitely one of the reasons that Square has had so much success in the marketplace, however as we've noted in some of our other articles (and our review on Square) while their model does work for some smaller merchants, working with a reputable merchant service provider and getting a fair deal is often the best path towards securing the lowest costs. We highly recommend speaking with one of the companies we have rated in our top five processors, receiving some quotes and finding the best deal for your company.
  2. Stephane B
    November 20, 16:30 Reply
    I have been using Elavon for more than 10 years. Everything was great when they had a local representative. He closed shop an moved to Florida. Elavon never notified me about it. My Equinox card processing machine had an error message making it unusable. I tried to get help from their support services. I had one voice mail and return the call. Nobody called me again even after several email and attempts to talk to somebody on the telephone. I waited sometimes for more than an hour. When I was finally able to talk to someone, they told me that they no longer had a local representation and referred me to their regional representative. I called that office several times and left messages but nobody returned my call. After 3 weeks of being unable to process any cc, I decided to call Flagship. I am delighted by their prompt response and good rates. Now I am facing with the problem of closing my account with Elavon! Stay away from this company.
  3. mark
    December 14, 15:32 Reply
    well after 3 years contract and elavon still require £180 to close account.100 to close plus 80 for returned terminal for refurbishing it....!
  4. Lilia
    February 24, 13:59 Reply
    I was promised only to pay 30 per month for machine. It turns out I am paying $50.00 for marine on a 4 year contract. I will end up paying for my machine $2,500 for a terminal that is only worth $300.00 with Ladco leasing through Elevon. The representative from Elevon pressured us into signing a 4 year contract. He lied to us when they said there would be no hidden fees. They told us that we would only pay $30.00 per month plus the interest rate of 2.65% plus $.10 per transaction fee swiped or manual input. It turns out I am paying over $92.00 on top of the $50.00 fee. Total hidden fees that were not disclosed was $110.00 per month.
  5. Robert R.
    May 17, 16:46 Reply
    What can i say about ELAVON, i'm in Canada, running online sales business for clothing and electronics. Recently got couple of chargebacks - usage of stolen cards, completely because of Elavon, they do not verify the address of payment before processing your transaction, it is same thing as running manual sales with keying card number. Address and the card number didn't match, basically they are not verifying anything. I try to solve it, and got extra 400$ charged on my account, when i asked why, they replied - This is the Arbitration Commissions... Dispute Resolution department is not helpful and very rude. Long story short, after i tried to settle this, Elavon went into my account and reversed back all the transactions processed within 6 month = $ 25,000. I spoke to Resolution Dpt again and they told me that they are going to hold funds for 6 month to verify my account... I have all the evidences, if anyone wants to sign-up with Elavon i will not recommend doing so, i understand that 0$ cancellation is that makes people go and sign-up, but trust me, you will have more hassle than service. My feedback to Elavon is Negative.

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