Card Payment processing is a highly regulated industry, which is to be expected since it deals with sensitive and private financial information. The goal of these regulations is to protect all parties involved in processing transactions — cardholders, merchants, acquirers and the issuing banks.
Elavon stays current and compliant with all applicable regulations. Our goal is to ensure you are aware of what is currently happening within the industry, in order to remain compliant. So please see below for latest news relating to Scheme Changes, Customers Updates and Data Security.
Guiding you through PSD2Elavon-GB-Keywords:elavon-news/Customer-Updates
The European Commission introduced the Payment Services Directive 2 (PSD2) to make payments safer, increase consumer protection and to foster innovation and competition. One of the more significant impacts of PSD2 relates to eCommerce transactions and the need to implement Strong Customer Authentication (SCA) from 14th September 2019.Full Article
Brexit - what you need to knowElavon-GB-Keywords:elavon-news/Customer-Updates
We know that many of our customers are assessing the impact of Brexit and what will happen after the United Kingdom (UK) leaves the European Union (EU). Elavon Financial Services DAC (“Elavon”) has put a Brexit Programme Office in place to continue to provide a robust service proposition to our UK and international-based customers after Brexit. We also encourage our customers to review information published by UK and EU governments as well as industry bodies, so they fully consider the impacts of Brexit and prepare accordingly.Full Article
Summary of key changes to your Elavon Terms of ServicesElavon-GB-Keywords:elavon-news/Customer-Updates
In line with European regulations namely Payment Services Directive (PSD2) and General Data Protection Regulation (GDPR), we have updated your Elavon Terms of Service (ToS) to incorporate these changes.Full Article
General Data Protection Regulation (GDPR) – what you need to know about the new EU data protection lawElavon-GB-Keywords:elavon-news/Customer-Updates
You may have heard about GDPR cropping up quite a bit in conversation or have come across it on the social channels which you use. You may know all about it already which is great, or you may not be sure what it’s really all about. Help is at hand, this quick summary will give you an overview of the main changes GDPR will introduce and help you better understand what it will mean for you.Full Article
Clarification to the wording on your Schedule of Fees- 27 March 2018Elavon-GB-Keywords:elavon-news/Customer-Updates
Clarification to the wording on your Schedule of Fees- 27 March 2018Full Article
Ban on surchargeElavon-GB-Keywords:elavon-news/Customer-Updates
One significant change introduced by PSD2 which you may be aware of is the ban on “surcharging”. This occurs when an additional fee is added to the transaction value for card payments. Please note that this does not constitute changes to your Customer Agreement with Elavon.Full Article
New Payment Services Directive (PSD2) legislation from the EUElavon-GB-Keywords:elavon-news/Customer-Updates
The EU has updated the Payment Services Directive (PSD) in order to enhance payment services market efficiency and competitiveness, consumer protection and transaction security, the new Directive is called PSD2.Full Article