ATLANTA--(BUSINESS WIRE)--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 http://www.paymentscoop.com/.