Elavon, a leading global payments provider and wholly-owned subsidiary of U.S. Bancorp (NYSE: USB), has acquired Collective Point of Sale Solutions Ltd. (Collective P.O.S.) in Toronto, Canada. The deal expands Elavon’s presence and distribution network in Canada and aligns with Elavon’s global growth strategy in strategic markets.
“The opportunities for Elavon to leverage Collective P.O.S.’ solutions and established customer base in Canada will deliver the best of both companies’ offerings to the Canadian marketplace,” said Tom Boyer, President of North
America for Elavon. “Establishing a greater presence in the Canadian market is in line with Elavon’s global growth plans.”
Founded in 2001, Collective P.O.S. is known for providing innovative, customized payment processing and merchant services to entrepreneurs and owners of small to medium-sized businesses in Canada. With more than 80 employees, Collective POS serves nearly 12,000 businesses across Canada and processes in excess of $1 billion worth of debit and credit card transactions annually.
“We have a strong reputation as a trusted provider of payment solutions in Canada,” said Michael Back, president of Collective P.O.S. “We look forward to expanding our offerings and delivering even greater value and benefits to our customers in the Canadian market as a benefit of this acquisition.”
As part of the agreement, Back and the Collective P.O.S. executives will continue in their leadership role at Collective P.O.S. and will work closely with Elavon to align the 80 existing employees’ at the company with the needs of Elavon in Canada.
The financial terms of the agreement were not disclosed.
About Elavon (www.elavon.com)
Elavon’s Global Acquiring Solutions organisation provides end-to-end payment
processing services to more than one million merchants in the United States,
Europe, Canada, Mexico, Puerto Rico and Brazil. Elavon markets solutions
including credit and debit card processing, gift cards, dynamic currency
conversion, multi-currency support, and cross-border acquiring through multiple
alliance channels including financial institutions, trade associations and third
party sales agents. Elavon’s suite of solutions is tailored to meet the needs
of merchants in specialized markets such as small business, retail,
hospitality/T&E, health care, education and the public sector. European
activities are conducted through Elavon Financial Services Limited, an Irish
registered bank headquartered in Dublin, which is a wholly owned subsidiary
within the U.S. Bancorp (NYSE: USB) group of companies.