Credit Card Processing Solutions
Top Companies in 2024
Elavon vs Fiserv
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- 24/7/365 technical support
- Easy-to-navigate software compatibilities
- International payments
- Diverse payment acceptance
- Mobile and contactless solutions
- Recurring billing
- Lack of price and plan transparency
- Funds may be held indefinitely
- Lack of transparency
- Limited extensive features
- Reported delayed funding
Elavon is a financial services company based in Atlanta, Georgia, and a subsidiary of U.S. Bank. Their focus is on providing merchant services to businesses of all sizes, with industry-specific payment processing options and advanced management features. They offer high industry security standards and serve over 2 million customers in 32 countries, processing a combined $6.5 billion in credit card transactions annually across various industries. Elavon is designed to scale with your business, adjusting their services as your company grows. The company has won awards like the 2023 TSG Real Transaction Metrics Awards and 2022 Best Mobile Payment Solution at the CNP Expo, reinforcing its position. They receive mixed reviews and complaints but respond promptly and satisfactorily.
Founded in 1984, Fiserv stands as a global driving force in financial services technology, catering to businesses seeking innovative payment solutions. Headquartered in Wisconsin, Fiserv's centralized platform offers extensive services, including POS systems, billing, payments, and merchants. With a commitment to flexibility, Fiserv facilitates seamless transactions, supporting various payment methods like credit cards, contactless, and ACH transactions, along with international payment capabilities. The company's strategic acquisition of First Data and Clover in 2019 solidified their position at the forefront of credit card processing, introducing advanced technology and heightened functionality. Fiserv prioritizes security by adhering to PCI standards, FraudNet for automated transaction monitoring, and tokenization for data protection. Despite the challenges posed by user reviews, Fiserv's positive aspects shine through in their global reach, omnichannel virtual terminal efficiency, and enhanced merchant portals for analytics. Fiserv empowers businesses of all sizes, from small enterprises to financial institutions, and provides an accessible resource center for inquiries. As a trusted industry leader, Fiserv leaves businesses intrigued by their commitment to innovation, security, and seamless payment experiences, encouraging further exploration into the depth of their offerings.
- Transaction Speed : 1 business day (unless the charge requires additional verification)
- Customer Experience : Fair
- Money-Back Guarantee : True
- Gift Cards : Available
- Real-Time Reports : Available
- Transparent Pricing : Unavailable
- Pricing Model : Undisclosed
- Trustpilot Score : 1.3 out of 5
- BBB Rating : A+
- Transaction Speed : Instant
- Customer Experience : Poor
- Gift Cards : Available
- Real-Time Reports : Available
- Transparent Pricing : Unavailable
- Pricing Model : Undisclosed
- Trustpilot Score : 1.8 out of 5
- BBB Rating : A+
- High security and fraud protection measures
- A variety of payment methods provided
- POS systems from Clover
- Industry-specific solutions
- Protected and secure payments
- Multiple gateway options
- Billing & Invoicing
- Electronic Receipts
- Free Hardware—Undisclosed
- Mobile Card Reader
- Multiple Payment Gateways
- Recurring Payments & Billing
- Reporting & Analytics
- Virtual Terminal
- Billing & Invoicing—Undisclosed
- Electronic Receipts
- Free Hardware
- Mobile Card Reader
- Multiple Payment Gateways
- Recurring Payments & Billing
- Reporting & Analytics
- Virtual Terminal
- EMV Compliant
- Payment Fraud Protection
- PCI Compliance
- EMV Compliant
- Payment Fraud Protection
- PCI Compliance
- Annual Subscription—Undisclosed
- Free Trial—Undisclosed
- Freemium—Undisclosed
- Monthly Subscription—Undisclosed
- One-Time License—Undisclosed
- Annual Subscription
- Free Trial
- Freemium
- Monthly Subscription—Undisclosed
- One-Time License—Undisclosed
- Processing Services
- Accounting Software
- POS
- Productivity Software
- Processing Services
- Accounting Software
- POS
- Productivity Software
- ACH Processing
- Cash Transactions
- Credit Card Terminals
- Electronic Signature
- In-Person Payments
- Mobile Payments
- NFC Payments
- Online Payment Procesing
- ACH Processing
- Cash Transactions
- Credit Card Terminals
- Electronic Signature
- In-Person Payments
- Mobile Payments
- NFC Payments
- Online Payment Procesing
- Demos—Undisclosed
- FAQs
- Help Guides
- Live Chat
- Mobile Application
- Phone
- Tickets
- Demos
- FAQs
- Help Guides
- Live Chat
- Mobile Application
- Phone
- Tickets
Elavon vs. Fiserv
Businesses often choose between Elavon and Fiserv when selecting a credit card processing service. Both companies are prominent players, offering robust payment processing solutions tailored to diverse business needs.
This comparative analysis explores Elavon and Fiserv's value-added services, usability, data security, and pricing, highlighting their similarities and differences to help businesses make informed decisions.
Value-added benefits
Elavon and Fiserv offer extensive value-added services to enhance their core payment processing capabilities. Elavon provides a comprehensive range of services, including POS systems, contactless payment options, payment optimization, gift card services, virtual terminal solutions, e-commerce capabilities, various payment gateways, and robust reporting tools. Their customizable services ensure businesses get exactly what they need without unnecessary extras.
Fiserv excels in diverse payment acceptance, supporting credit/debit cards, contactless payments, mobile wallets, and ACH payments. Their recurring billing service is advantageous for automated payment schedules. Fiserv’s virtual terminal facilitates transactions from any internet-connected device, with analytics and reporting tools offering real-time insights. They also provide a range of POS systems, including mobile and wireless options.
While both companies offer comprehensive services, Elavon’s specialized payment gateways for different industries, like Fusebox for hospitality, set them apart. Elavon emphasizes payment optimization, offering solutions like multi-currency and dynamic currency conversion, which benefit international transactions. Fiserv stands out with their flexible API and plug-in options, seamless integration with various business software, and extensive POS system variety, including advanced options like the Clover Station Solo.
Usability
Both Elavon and Fiserv prioritize user-friendly interfaces. Elavon’s POS systems and virtual terminals are intuitive, reducing the learning curve. Their e-commerce solutions integrate seamlessly with popular platforms, enhancing the user experience. Similarly, Fiserv’s virtual terminal is easy to use, and their POS systems are designed for simplicity and efficiency.
Despite these similarities, differences in usability exist. Elavon’s POS systems offer six options for countertop or portable use, catering to specific needs and budgets. Their contactless payment solutions are fast and secure. Conversely, Fiserv supports various payment options and excels in international payments, making them ideal for larger businesses looking to operate globally.
Level of data security
Data security is paramount, and both Elavon and Fiserv implement stringent measures. They are PCI-compliant and use encryption and tokenization technologies. Elavon’s ‘Safe-T’ solutions include tamper-resistant modules, authentication, encryption, and tokenization, with PCI program support for breach assistance.
Fiserv prioritizes security with advanced anti-fraud solutions like FraudNet, which automates transaction monitoring. Tokenization replaces sensitive data with unique tokens, and regular assessments maintain compliance with industry benchmarks, ensuring secure transaction handling.
Pricing
Elavon does not advertise plans or costs online or publicly share their pricing methodology or fee structure. Pricing is customized for each customer, and businesses must contact a sales representative for a quote. This approach can be convenient for businesses seeking tailored solutions but may lack the upfront transparency some businesses prefer.
Similarly, Fiserv’s pricing strategy does not publicly disclose comprehensive information. The absence of price details might make it difficult for businesses to estimate costs precisely. Businesses need to engage directly with Fiserv’s sales representatives to obtain specific pricing information, which can be an additional step that some users find inconvenient when comparing different payment processing options.
Conclusion
In conclusion, Elavon and Fiserv offer robust payment processing solutions with various value-added services, user-friendly interfaces, strong data security measures, and competitive pricing models. While they share many similarities, their differences lie in the specifics of their services, usability, security approaches, and pricing transparency. Elavon’s straightforward setup and clear pricing make them an excellent choice for small to medium-sized businesses.
In contrast, Fiserv’s advanced security features and flexible integration options cater to larger businesses with specific technical requirements. Ultimately, the choice between Elavon and Fiserv depends on the unique needs and priorities of the business.
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