Elavon Acquires CenPOS, Enhancing Elavon’s Digital Capabilities, Integrating Payments into CenPOS Software
January 09 2019 - 3:30PM
Business Wire
Elavon, a global payments provider and subsidiary of U.S.
Bancorp, has acquired CenPOS, a Miami-based company offering
integrated payment software solutions to large enterprises.
CenPOS focuses on three industry verticals: automotive, travel
and entertainment (T&E), and general business-to-business
transactions, which aligns well with Elavon’s strengths. In
addition, CenPOS’ distribution strategy and product capability
complement Elavon’s assets, all of which make the two entities an
excellent fit.
Increasingly, business owners expect that the software packages
they use to run their businesses will come with payments acceptance
and processing embedded in the software offering. Elavon is paving
a way to future growth by integrating with these software
packages.
“Elavon recognizes the tremendous potential we have to bring
greater value to our customers by integrating with software
companies like CenPOS,” said Jamie Walker, CEO of Elavon. “More and
more, businesses are choosing their payment provider based on the
software solutions they use to manage other parts of their
operations. With this acquisition, customers of both companies will
benefit from the strengths and opportunities these organizations
offer in important industry segments.”
“The CenPOS team is elated to join Elavon,” said Jorge
Fernandez, CEO, who cofounded CenPOS with German Gonzalez.
“Elavon’s suite of payment products, coupled with the stability and
array of financial offerings from U.S. Bank, gives CenPOS an
unparalleled competitive edge in the market. Likewise, CenPOS’s
technology brings new market expertise to Elavon’s current
technology solutions.”
U.S. Bank has a long history in payments, with scale and deep
experience that offer a unique value to customers. Elavon accepts
and processes payments on behalf of more than a million businesses
in the United States, Canada, Mexico and Europe. Adding CenPOS to
the U.S. Bancorp family will provide even greater scale and
payments capabilities.
The acquisition closed on January 8, 2019. Financial terms of
the deal were not disclosed.
Elavon provides end-to-end payment processing solutions and
services to more than 1.3 million customers in the United States,
Europe, Canada, Mexico, and Puerto Rico. As the leading provider
for airlines and a top five provider in hospitality, healthcare,
retail, and public sector/education, Elavon’s innovative payment
solutions are designed to solve pain points for businesses from
small to enterprise-sized.
U.S. Bancorp, with 74,000 employees and $465 billion in assets
as of September 30, 2018, is the parent company of U.S. Bank, the
fifth-largest commercial bank in the United States. The
Minneapolis-based bank blends its relationship teams, branches and
ATM network with mobile and online tools that allow customers to
bank how, when and where they prefer. U.S. Bank is committed to
serving its millions of retail, business, wealth management,
payment, commercial and corporate, and investment services
customers across the country and around the world as a trusted
financial partner, a commitment recognized by the Ethisphere
Institute, which named the bank a 2018 World's Most Ethical
Company. Visit U.S. Bank at usbank.com or follow on social media to
stay up to date with company news.
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version on businesswire.com: https://www.businesswire.com/news/home/20190109005812/en/
Cara Crifasicara.crifasi@elavon.com303-268-2412
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