Dealertrack Partners with Element Payment Services to Simplify Electronic Payment Processing at Automotive Dealerships
30 July 2014 - 11:00PM
Business Wire
Dealertrack’s DMS 2.0 to Securely and
Seamlessly Integrate Element’s Electronic Payment Solution
Dealertrack 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 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.
TRAK-G
Dealertrack Technologies, Inc.Ken Engberg,
516-734-3692kenneth.engberg@dealertrack.comorMichael DeMeo,
516-734-3691michael.demeo@dealertrack.com
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