|By Business Wire||
|July 30, 2014 09:00 AM EDT||
With Element’s fully integrated payment technology within Dealertrack DMS 2.0, all types of dealership business, including parts and service billing, vehicle deposits, full or partial payments and refunds, can be processed easily and efficiently using credit or debit cards. Element’s PCI-compliant electronic payment engine, which eliminates the need for standalone and costly point-of-sale terminals or unsecure third-party applications, simplifies card payment acceptance and dramatically reduces the risk associated with handling personal cardholder data.
“Across the country, automotive dealers have been a primary recipient of credit and debit card payments for many years. To effectively handle these types of payments within a dealership, dealers need a reliable tool that is fully integrated with their systems and processes,” said Sharon Kitzman, vice president and general manager, DMS, Dealertrack. “This partnership with Element will help dealers significantly streamline their daily electronic payment processing through seamless DMS integration to improve operational efficiency, reduce costs and add a reliable level of security.”
“Element is excited to partner with Dealertrack to provide their software clients with a powerful fully integrated, simple and secure payment processing solution,” said Matt Downs, general manager, Integrated Partner Business at Element/Vantiv.
“Element provides the full breadth of services a merchant needs as both a full-service processor and a provider of gateway cloud services,” said Downs. Additionally, because the DMS integration to Element features point-to-point encryption technology (P2PE), Dealertrack was able to remove its software application from the scope of PCI compliance while ensuring sensitive cardholder information, targeted by hackers, never enters its customers’ systems. “Our TransForm® approach to payment processing is clear: Remove the value and accessibility of cardholder data and eliminate the risk,” said Downs.
For more information about the Element’s electronic payment processing solution within Dealertrack DMS 2.0, please call 866-435-3636, ext. 1721.
About Element Payment Services, Inc. (www.elementps.com)
Headquartered in Chandler, Arizona, Element Payment Services, Inc., a Vantiv company (NYSE: VNTV), is an industry leading software business that develops PCI compliant technology designed to secure the processing, transmitting, and storing of payment card related data. Element's technology is deployed through partnerships with Point of Interaction (POI) hardware vendors, systems dealers and independent software vendors. Engineered using service-oriented architecture, Element's Express Processing Interface allows for easy integration and supports advanced technologies including tokenization and point-to-point encryption.
About Dealertrack Technologies (www.dealertrack.com)
Dealertrack Technologies, headquartered in Lake Success, New York, delivers integrated web-based tools, services and technologies that drive efficiencies and profitability for automotive retailers, including dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers. Currently, Dealertrack hosts more than 60 million unique visitors per month on 20,000 dealer websites, and operates the industry’s largest online credit transaction network, connecting more than 20,000 dealers with more than 1,400 lenders. Dealertrack’s market-leading suite of integrated solutions include Dealer Management Systems (DMS), Inventory, Sales and F&I, Digital Marketing, Registration and Titling , Fixed Operations and Independent Dealer solutions.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of Dealertrack's solutions, Element Payment Services, any conclusions or statements based thereon and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of Dealertrack Technologies to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include the performance and acceptance of the Dealertrack solutions, including the performance of Dealertrack's third-party partners, such as Element Payment Services, and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ending December 31, 2013 and our Quarterly Reports on Form 10-Q. These filings can be found on Dealertrack Technologies' website at www.dealertrack.com and the SEC's website www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and Dealertrack Technologies disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.
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