Elavon Elevates Its Portfolio with CenPOS Acquisition

U.S Bancorp subsidiary and payments company Elavon has acquired Miami-based software solutions company CenPOS. 

Known already amongst our audience for being one of the payments companies currently offering programs specifically geared towards supporting the PF model, especially with its proprietary program Scoop, the payments company is viewing the partnership with CenPOS as a customer-centric move that will enhance their overall customer experience.

“Elavon recognizes the tremendous potential we have to bring greater value to our customers by integrating with software companies like CenPOS,” said Elavon CEO Jamie Walker in the press release. “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.”

As for CenPOS, their business model focuses on three specific industry verticals: travel and entertainment, automotive and general B2B transactions. And according to the same release, this coupled with CenPOS’ product capability and distribution strategy make the merger “an excellent fit.”

“The CenPOS team is elated to join Elavon,” said CenPOS CEO Jorge Fernandez via the same release. “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.”

The acquisition officially closed on January 8, though financial terms have not been disclosed.