Fidelity Canada Welcomes Streamlined Amex
Canadian merchants processing with Elavon have typically been restricted to a specific processing format with American Express. But they are now able to enjoy the convenience of a more streamlined program. There are four main benefits for merchants that choose to enroll:
A Consolidated Statement
One benefit of the new program is a single statement for all credit card transactions. By contrast, the previous program issued a statement for Visa, Mastercard and Discover, while American Express was separate. Aside from convenience, this also has several ramifications for merchants in terms of fees and receipt of funds.
On the old program, Elavon processed all Visa, Mastercard and Discover transactions. Amex transactions were forwarded to American Express directly to process, which typically resulted in a higher pricing structure. The new program allows Elavon to process all credit card transactions, which not only simplifies matters but results in lower fees as well.
Faster Access to Funds
Since transactions are being processed all at once, merchants will receive the same next-day funding for American Express as they do for their Visa, Mastercard and Discover payments. For small business owners, the expediency of cash flow is integral to their continued growth.
For more information or to inquire about enrollment, please call the Fidelity Payments Canada Office at 877-627-8472.