Scoop, Elavon Payments Co-op Launches to Support Global Payment Facilitators
Elavon, a leading global payments provider and subsidiary of U.S. Bancorp (NYSE:USB), is expanding its payment facilitator (PF) business with the launch of Scoop®, a payment facilitator co-op that enhances and expands Elavon’s partnerships with PFs all over the world.
Payment facilitators are a growing payments industry sector. They act as third parties that can establish merchant acceptance agreements on behalf of an acquirer such as Elavon. They can also receive settlement of transaction proceeds from an acquirer on behalf of a sponsored merchant. The PF market grew by an average of 45 percent in North America over the past three years, according to a recent report by Double Diamond Group. Market penetration for payments facilitators is low, so industry analysts expect growth to continue on that trajectory. This growth is driven by merchants’ desire for a seamless experience, more integrated solutions and the lower pricing that comes with being part of a larger group of merchants operating under a payment facilitator.
To support this progression, Elavon’s Scoop program offers two options:
- Scoop - provides large, local and global organizations with a comprehensive, turnkey solution that gives them 100 percent control of the merchant’s payments experience including automated boarding, funding, merchant support and white-label branding.
- Scoop Direct – based on feedback from cloud-based business service providers, enterprise resource planning organizations and related companies, Scoop Direct gives PFs the advantages of operating within their own branding, while outsourcing the complexities of underwriting and funding to Elavon.
“With Scoop, we give our PF customers the confidence that their payment processing is handled by a trusted partner with global capability, both securely and efficiently,” said Ian Drysdale, executive vice president, global eCommerce, Elavon. “We developed this program through our close relationships with the PF community. We have seen great interest in our white-labeled branding and immediate account boarding functionality. Both Scoop and Scoop Direct are being rapidly adopted by leading organizations, gaining momentum in the marketplace.”
Scoop is available to PFs throughout Canada, the U.S., Mexico and throughout Europe. To learn more about Scoop, visit www.paymentscoop.com.
Contact: Cara Crifasi - cara.crifasi@elavon.com - 612.303.0732
Notes to editors
About Elavon
Elavon is a leading global payments company with more than 4,300 employees and operations in 10 countries. A subsidiary of U.S. Bancorp (NYSE:USB), Elavon provides businesses with the technology needed to accept payments from customers, whether they are shopping in stores, at home or on the go. Its platform is distinctive in that it is common across countries, making it easier for businesses to get their payment system up and running quickly and securely.
Elavon Financial Services DAC, trading as Elavon Merchant Services, is regulated by the Central Bank of Ireland and the Prudential Regulation Authority and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our authorization and regulation by the Prudential Regulation Authority, and regulation by the Financial Conduct Authority are available from us on request.
About U.S. Bank
U.S. Bancorp, with 74,000 employees and $488 billion in assets as of September 30, 2019, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank a 2019 World’s Most Ethical Company. Visit U.S. Bank online or follow on social media to stay up to date with company news.
Visit U.S. Bank and Elavon online or follow on social media to stay up to date with company news.
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