This partnership aims to facilitate the acceptance, enablement, and optimisation of various payment methods, including credit, debit, and digital transactions. The initiative aims to deliver secure, scalable payment capabilities and technologies specifically designed to cater to the requirements of BMO's small business, corporate enterprises, and capital markets clients in the US. In the official press release, representatives from Elavon expressed enthusiasm about extending their capabilities to support BMO's business clients and highlighted the increasing demand for seamless payments integration with clients' technology, faster access to funds, and better client service.
The services comprise core acquiring and processing, providing customised merchant processing solutions, omnichannel acceptance for in-person, online, or on-the-go transactions, dynamic and multi-currency conversion to facilitate international payments, and robust fraud management employing state-of-the-art security solutions.
Officials from BMO Partners talked about this new Elavon partnership and mentioned that it aligns with BMO's digital-first strategy. This strategy aims to advance clients' progress through substantial enhancements in technology capabilities, supporting speed, scalability, and simplification. They also stated that the partnership with Elavon will further accelerate the delivery of high-value services and convenience to meet the diverse needs of BMO's clients.
Elavon, which is a subsidiary of US Bancorp, operates globally across 10 countries. It offers businesses a unified payment platform, ensuring quick and secure setups for in-store, online, and mobile transactions. Registered in Ireland, Elavon Financial Services DAC is authorised and regulated by the Central Bank of Ireland, providing credit services and adhering to UK and Irish regulations.
In October 2023, Elavon partnered with Virgin Atlantic to provide the latter with its acquiring services and Multi-Currency Conversion (MCC). At the time, officials from Elavon said that Virgin Atlantic is a well-known airline and they’re excited to be powering its payments to ensure it meets the needs of its customers and continues to grow globally.
Also commenting on this partnership, officials from Virgin Atlantic said that Elavon’s expertise with global airlines, its dedicated airlines team, and their ability to work rapidly to form bespoke solutions make it a shrewd choice for Virgin Atlantic to partner with on their payments needs.
In August 2023, Elavon introduced the Talech Terminal to enhance small business efficiency. The solution is a versatile point-of-sale system with diverse payment options. The software provides intuitive interface, product organisation, basic reporting, credit card surcharge, inventory, and employee management support.
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