Elavon Acquires CenPOS
Elavon, a 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. In addition, CenPOS’ distribution strategy and product capability complement Elavon’s assets.
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.
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.