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Elavon Launches Mobile Innovation Center

Stocks in this article: USB

Elavon, a wholly owned subsidiary of U.S. Bancorp (NYSE: USB) and a leading global payment solutions provider, has opened a mobile innovation center at its Atlanta headquarters to focus on merchant-based mobile solutions. The center is expected to add at least 50 jobs in the next 12 to 18 months. Known internally as “The Grove,” the center is focused on harvesting innovation around new technology and product development for mobile payments and expanding on Elavon’s existing mobile solutions, including VirtualMerchant Mobile in the U.S. and MobileMerchant in Europe. It will also allow Elavon to leverage additional third party relationships similar to the recently announced distribution and back-end processing agreement with NCR to market NCR Silver through Elavon’s existing sales channels.

The Grove will be managed by a full-service, cross-functional team and will operate as a separate business unit with offices within Elavon’s headquarters. The team’s focus will be to create new technologies that are compatible with Elavon’s full scope of payments and security solutions. As mobile payments become more acceptable by merchants and customers alike, technology must keep pace with the needs on both sides of the transaction.

The Grove is yet another example of the commitment of Elavon’s parent company, U.S. Bancorp, to be an industry leader in banking and payment innovation. U.S. Bancorp’s investment in innovation has resulted in the company being fast – and often first – to market with new mobile features and functionality.

“Our focus will be on new technologies that enable merchants to accept payments via mobile devices while also ensuring the ease of use and safety of the transaction from the customer’s perspective,” said Marianne Johnson, executive vice president of global product and innovation for Elavon. “Payments are moving closer to the concept of the mobile wallet housed on a smart phone or other device.”

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