BMO Taps Elavon to Add Payment Solutions for Business Clients

Elavon, a global payment processor, has partnered with BMO, North America’s eighth-largest bank, to introduce a payment solutions platform for BMO’s U.S. clients.

The collaboration aims to optimize credit, debit and digital payment transactions, offering secure and scalable payment capabilities tailored to BMO’s diverse client base, the companies said in a Thursday (March 14) press release.

“Elavon is excited to bring our capabilities to support BMO’s business clients,” Elavon CEO Jamie Walker, said in the release. “Our range of digital payment capabilities reflects the evolving demands from clients for greater payments integrations with their own technology, faster access to funds, and top-tier client service.”

The services offered through this partnership include core acquiring and processing, omnichannel acceptance (in-person, online or on-the-go), dynamic and multi-currency conversion for international payments and advanced fraud management with state-of-the-art security solutions, according to the release.

“Our partnership with Elavon aligns with BMO’s digital-first strategy supporting progress for our clients through significant enhancements in technology capabilities that enable speed, scale and elimination of complexity,” Hugh McKee, head of BMO Partners, said in the release. “With Elavon, we’ll continue to accelerate high-value service and convenience to meet the diverse needs of our clients.”

BMO Financial Group, with total assets of $1.3 trillion as of Oct. 31, offers a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services, per the release.

In another recently announced partnership, BMO teamed up with Visa in October to offer BMO credit card holders access to Visa’s Installments program, a payment option that lets consumers convert qualifying purchases into smaller, equal payments made over a set period.

Elavon, a subsidiary of U.S. Bank, provides end-to-end payment processing solutions to over 1.3 million customers in the United States, Europe and Canada, according to the Thursday press release. The company is a leading provider for airlines and a top five provider in hospitality, healthcare, retail and public sector/education.

In a recent product introduction, Elavon launched a next-generation model of its Android-based point-of-sale (POS) system called talech Terminal in August, saying this system aims to help small business owners streamline their operations and enhance customer payment experiences.