Global payment solutions provider Elavon has partnered with Verizon to bring mobile point of sale products to Verizon's small-business customers.
"Verizon has a large sales force of around 3,000 people," said Guy Harris, North American president for Elavon, a unit of U.S. Bancorp. "Verizon is such a huge brand."
Verizon sales representatives will provide Elavon with leads and then Elavon will close the deal, he said.
"There's a shift in how [business] customers now acquire their payments," Harris said. Many of the tech-savvy businesses popping up would be unlikely to get their payments capability from a bank, but instead want a technology provider, such as Verizon, to enable integrated payments for them, he said.
Elavon's cloud-based tablet point of sale system includes its Fanfare loyalty program. "Small businesses in particular, when you look at competitiveness in Tier 1 stores, they all have loyalty programs that are quite sophisticated small businesses don't always have those solutions available," Harris said.
Elavon has multiple channel partners for delivering its point of sale technology. Costco is another major channel for the company.