Elavon (NOVA) Review

Merchant Maverick's Rating: (4 out of 5)

Last Updated: August 17th, 2010.

Overview:
Elavon (formerly known as NOVA Information Systems) is an acquirer based out of Atlanta, Georgia. They've been in business since 1991, but only under the Elavon name since 2008. The upside to working with Elavon will be that you have a company that handles pretty much everything under one roof. Much like any other acquirer, you're going direct to the source.

With that said, there are hundreds, if not thousands, of agents and organizations that resell Elavon's services. Some of them have been reviewed right here on my site. They go by different brand names, but at the end of the day, your account is probably being underwritten and boarded under the Elavon platform. Costco Wholesale is a big reseller of Elavon's services.

One thing that I haven't mentioned much, is that your experience with Elavon, or any big acquirer for that matter, will rely mostly on the sales rep/reseller that sets you up with that account. Even if you go direct, there are still some reps that are more educated and/or ethical than others. The goal is to find a rep within Elavon that you feel comfortable with. By doing that, you can ensure you'll get a 5-star experience everytime. And, because you're reading this site, you know more than 80% of other business owners, so you know what to look for and what to ask. If you feel comfortable, do it yourself, if not let me know, I'd be happy to help.

Moving on...

For a company as large as Elavon (1 million merchants), I'm surprised that their complaint count is rather low. However, keep in mind that the "Elavon" brand has only been around since 2008. Some of you might think that 166+ BBB complaints (as of this update) is high, but trust me when I tell you, I've seen a much higher number from much smaller companies. Just look through my reviews, and see for yourself.

In conclusion, I can't say that I have any major issues with Elavon. I think that the PCI compliance fee (see "Common Complaints" below) that they've been charging their merchants is not ideal, but I am yet to find a large acquirer that doesn't charge the same fee. It would be nice to see some testimonials, educational resources and some social media profiles, but all of those are incidental so long as Elavon is treating their merchants right.

I'm gonna give Elavon a 4 out of 5 for now.

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Don't forget to read through the rest of this review for more info on Elavon.

Date Established:
1991.

Location:
Atlanta, Georgia.

Domain Name(s):
www.elavon.com.

Parent/Partner Company:
The Elavon brand is a result of a merger between NOVA information systems and euroConex. Elavon is part of U.S. Bank's (U.S. Bancorp's) Payment Services division.

Type:
Registered Acquirer.

Acquiring Bank(s) (Acquirer):
U.S. Bancorp.

Payment Processor(s):
Elavon is the payment processor.

Payment Gateway(s):
Elavon generally opts for their own payment gateway by the name InternetSecure, but they can set you up with a third-party gateway like Authorize.Net, if you need it.

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
The Elavon BBB profile has an "A+" rating as of this review, with 166 complaints (as of this update) in the last 36-months.

Negative Reviews/Complaints:
You can find a decent amount of complaints on RipOffReport. Most of the other review and complaints sites have redundant reports, so I'm just going to stick with one source. If you have time, you should read through them, or you can check out my breakdown of them in the "Common Complaints" section below.

Although it doesn't look like a direct representative of Elavon is responding to the above mentioned complaints, you will notice that most of them have rebuttal's. You'll also notice that almost all of those rebuttal's come from a single person. It may be a rep from Elavon, but we can't tell for sure.

Common Complaints:
Here they are...

• Expensive terminal lease contracts through Ladco Leasing: Some merchants have complained about not being aware that they were signing into a 4-year terminal lease, that would essentially cost about 4-figures to get out of. The whole "not being aware" part can be chalked up to the merchant not fully understanding their contract, but I personally think terminal leasing is unnecessary to begin with. If you're a small merchant, and you only need a few terminals, then why not just buy them? They don't cost much these days. Leases make sense for bigger organizations that need many terminals, and don't have the upfront capital to invest in buying them.
• PCI compliance fee: Many of Elavon's merchants are having an issue with the annual PCI compliance fee of $175 that Elavon is dinging them with. Although PCI compliance is necessary for anyone that plans on accepting credit cards for their business, Elavon is not required to charge their merchants any type of fee for that compliance. So, contrary to what you may have heard, processor's are not required to pass that charge on to you.
• Witholding of funds/termination of accounts: I can't blame Elavon here at all. They accept a certain amount of risk for taking on a merchant. If that merchant starts conducting business outside of the agreed upon terms, then Elavon has a right to investigate. There are two main reasons that will get you red flagged by Elavon. (1) If you start processing way beyond the estimated monthly processing volume that you initially gave them when you signed up, and (2) if you sell something that is way above the average ticket price that you told them. If you anticipate either of those two numbers will change in any way, I highly recommend you contact Elavon to let them know ahead of time.

Verifiable Testimonials/References:
I couldn't find any verifiable testimonials (as of this review) on the Elavon website. Hopefully they'll put some up for us.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of Elavon, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
Have you worked with Elavon? Feel free to leave us your review. Don't forget to read the user review and comment policy.

Contract Duration:
3-years. However, this term is only if you go directly through Elavon. If you end up dealing with an Elavon reseller, that term can change.

Cancellation Fee:
$295 if you cancel before the first year is up, and $195 if you cancel within the 2nd or 3rd year. These numbers only apply to accounts setup directly through Elavon. If you go through a reseller the cancellation fee can go up or down depending on the reseller's own terms.

Interchange-Plus Pricing:
Interchange-plus is offered by Elavon. Don't forget to ask for this transparent pricing model before signing up.

Seasonal Downtime:
Seasonal downtime is also offered by Elavon. Be sure to verify this with your agent when speaking with them.

Product/Service Offering:
Retail (Credit/Debit), Mail Order/Telephone Order (MOTO), EBT, Check Services, Online/e-Commerce Payments, Gift & Loyalty, Pre-Paid, Online Reporting, ACH, Equipment Leasing, Point-of-Sale (POS).

Product/Service Specialty:
Elavon is the self-proclaimed leader when it comes to airline processing. They're also the #2 provider for hospitality processing, #3 for U.S. processing volume and #6 in the European market.

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Click Here If You Need Help Choosing a Provider

Click Here To Learn How To Lower Your Credit Card Processing Fees