Elavon buys CenPOS to reach to auto, travel, entertainment industries
U.S. Bancorp’s Elavon has acquired CenPOS, a B2B payments software provider with a heavy focus on large companies in the automotive, travel and entertainment industries.
CenPOS creates customized payment acceptance tools for businesses, including mobile and virtual terminals and recurring billing. The Miami-based company has a proprietary “interchange optimization” feature that aims to maximize profit margins and minimize chargeback risk for merchants. CenPOS sells its wares directly and via resellers, according to its website.
“Elavon recognizes the tremendous potential we have to bring greater value to our customers by integrating with software companies like CenPOS,” said Jamie Walker, Elavon’s CEO, in the release.
“CenPOS’s technology brings new market expertise to Elavon’s current technology solutions,” said Jorge Fernandez, CEO and co-founder of CenPOS, in the release.
Terms of the deal were not disclosed. The acquisition closed Jan. 8, 2019.