U.S. Bank subsidiary Elavon acquires B2B payments company CenPOS

By Folake Dosu  |  January 15, 2019

fintech-US-bank-Elavon-CenPOS

U.S. Bancorp (U.S. Bank) subsidiary Elavon has acquired B2B payments software company CenPOS, according to a joint statement made last week, PYMNTS.com reports.

Elavon plans to integrate CenPOS’ B2B payments functionality into its existing global payment solutions, hoping to please companies who expect all-in-one payment acceptance and processing.

“More and more, businesses are choosing their payment provider based on the software solutions they use to manage other parts of their operations.”

“More and more, businesses are choosing their payment provider based on the software solutions they use to manage other parts of their operations,” said Elavon CEO Jamie Walker in a statement. “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,” added 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.”

This is U.S. Bank’s latest foray in B2B payments, after an earlier launch of the Disbursements via Zelle solution for corporate clients, as well as Supplier Prefer Pay, which bills itself as a complete solution to enroll and pay suppliers.

RelatedWhat is fintech?

“Organizations are looking for payment solutions that solve real-life challenges,” said Dominic Venturo, U.S. Bank’s Executive Vice President and Chief Innovation Officer, in a statement at the time.

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