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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190109005812/en/