|By Business Wire
|July 30, 2014 09:00 AM EDT
Technologies (Nasdaq:TRAK) today announced a partnership with Element
Payment Services, a Vantiv company, to seamlessly integrate
electronic payment processing into Dealertrack DMS 2.0.
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
“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
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,
and F&I, Digital
and Titling , Fixed
Operations and Independent
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
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
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