Elavon investment demonstrates its commitment to Poynt and future of payments innovation
ATLANTA (Nov. 13, 2018) — Elavon, a global payments provider and subsidiary of U.S. Bancorp (NYSE: USB), has made a minority investment in Poynt, a producer of smart terminals and a long-time partner of Elavon. The investment enables Elavon’s continued growth in eCommerce and integrated payments, by expanding an existing partnership between Elavon and Poynt to provide application developers and merchants innovative, point-of-sale (POS) solutions and applications that help grow their businesses.
With Poynt and Elavon, business owners can more efficiently run their business by connecting payment transaction data to their inventory, payroll, accounting, loyalty or other types of data they use to operate their business through app-based tools integrated into the Poynt terminal. Poynt’s innovative operating system allows companies to do business through the cloud using Poynt’s “next-gen” smart payments terminals, while Elavon provides them with secure, end-to-end payments processing including PCI-validated point-to-point-encryption technology.
“For the past several years, we have cultivated a strong and trusted partnership with Poynt, which is made even stronger through this expanded relationship,” said Jamie Walker, CEO of Elavon. “Our customers really value how Poynt’s solutions help them seamlessly and securely connect transaction data with operational data, and now, as Poynt continues to grow, we grow together.”
In addition, businesses can better manage cash flow through same day and next day funding of payment transactions. Poynt and Elavon are also able to scale with a business as they grow, giving them solutions and technology that meet their changing needs. The investment is part of Elavon’s overall growth strategy to expand the company’s integrated payments capabilities across its global footprint.
“Elavon is one of our earliest and largest partners,” said Osama Bedier, Poynt’s CEO. “I'm excited to have them share in the success they helped kick off as we rapidly grow, and in turn, enable more of their merchant customers with technology superpowers.”
Poynt also gives software developers the ability to create innovations within the POS device through its open, Android-based commerce platform, so there is no need to learn a new platform or language. These innovations will help merchants better serve their customers and simplifies integration of these new capabilities that help expand and simplify their business.
Learn more about the investment: Poynt’s news release.
See how Poynt is helping Elavon customers:
Notes to editors
About Elavon
Elavon is a leading global payments company with more than 4,300 employees and operations in 10 countries. A subsidiary of U.S. Bancorp (NYSE:USB), Elavon provides businesses with the technology needed to accept payments from customers, whether they are shopping in stores, at home or on the go. Its platform is distinctive in that it is common across countries, making it easier for businesses to get their payment system up and running quickly and securely.
Elavon Financial Services DAC, trading as Elavon Merchant Services, is regulated by the Central Bank of Ireland and the Prudential Regulation Authority and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our authorization and regulation by the Prudential Regulation Authority, and regulation by the Financial Conduct Authority are available from us on request.
About U.S. Bank
U.S. Bancorp, with 74,000 employees and $488 billion in assets as of September 30, 2019, is the parent company of U.S. Bank National Association, 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 naming the bank a 2019 World’s Most Ethical Company. Visit U.S. Bank online or follow on social media to stay up to date with company news.
Visit U.S. Bank and Elavon online or follow on social media to stay up to date with company news.
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Contact:
Teri Charest, Public Affairs and Corporate Communications