LAKE SUCCESS, N.Y. — Dealertrack Technologies has announced a partnership with Element Payment Services, a Vantiv company, to seamlessly integrate electronic payment processing into Dealertrack DMS 2.0.
“Element provides the full breadth of services a merchant needs as both a full-service processor and a provider of gateway cloud services,” said Matt Downs, general manager of Integrated Partner Business at Element/Vantiv. “Our TransForm approach to payment processing is clear: Remove the value and accessibility of cardholder data and eliminate the risk.”
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.
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, officials said.
“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 of DMS for 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.”
Originally posted on F&I and Showroom