Latest news with #Elavon
Globe and Mail
a day ago
- Business
- Globe and Mail
US Bancorp Reports Strong Q2 2025 Financial Results
Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. US Bancorp ( (USB)) has shared an announcement. US Bancorp reported strong financial results for the second quarter of 2025, with a net income of $1,815 million, marking a 13.2% increase year-over-year. The company achieved a return on tangible common equity of 18% and a return on average assets of 1.08%. The results were driven by growth in fee revenue, particularly in payment services, trust and investment management, and treasury management fees. Elavon, a subsidiary of US Bancorp, improved its ranking in the 2025 Nilson Report, becoming the fifth-largest U.S. merchant acquirer. Additionally, US Bancorp completed its first fully digital trade finance transaction, highlighting its commitment to modernizing trade and working capital for clients. The most recent analyst rating on (USB) stock is a Hold with a $49.00 price target. To see the full list of analyst forecasts on US Bancorp stock, see the USB Stock Forecast page. Spark's Take on USB Stock According to Spark, TipRanks' AI Analyst, USB is a Outperform. US Bancorp presents a well-rounded investment case with strong technical momentum and attractive valuation. Robust earnings call guidance and positive corporate events further bolster confidence. However, the financial performance could be improved with enhanced revenue growth and equity strength. To see Spark's full report on USB stock, click here. US Bancorp operates in the financial services industry, providing a range of banking and financial products including payment services, trust and investment management, and treasury management. The company focuses on leveraging its diversified business mix and sound risk management to navigate economic volatility. Average Trading Volume: 9,768,842 Technical Sentiment Signal: Strong Buy Current Market Cap: $71.19B See more insights into USB stock on TipRanks' Stock Analysis page.
Times
12-07-2025
- Business
- Times
Plumber of payments keeps the money flowing at Elavon
Declan Lynch operates far from the hype of the fintech world. The chief executive of US Bank Europe, the American institution behind the ubiquitous Elavon brand, has been instrumental in building one of the largest payment-processing businesses in Europe from its Irish base over a period of nearly two decades. Elavon processes hundreds of billions of euros annually through its card payment terminals and ecommerce gateways, providing much of the essential financial plumbing for the retail, hospitality, airline, education and government services sectors. Customers range from corporations as big as Ryanair to local businesses as small as the fashion retailer McMullans of Arklow in Co Wicklow. This year marks US Bank's 25th in Ireland; Lynch has been in charge since 2006. In that time he has grown the business into a quiet but significant foreign direct investment success, overseeing several transformative acquisitions and expanding to employ more than 1,100 people across several locations in the country. In an industry increasingly dominated by flashy start-ups and aggressive marketing, Lynch is an outlier. His 19-year tenure at the helm of Elavon is a rarity in modern banking. While many fintechs proclaim their disruptive power, he prefers to operate quietly, more like a highly competent craftsman than a revolutionary. 'I wouldn't like to say it too loudly, but I think I'm the longest-serving bank CEO in Ireland,' he says, attributing his longevity to credibility and reliability — never a bad look in financial services — and comparing it to a much less glamorous business. 'Plumbing is not the most attractive profession or industry. A lot of it comes down to making sure that the pipes are flowing, that the service is available, that there's somebody at the end of the phone if you have a problem. That sort of track record and trust factor are critical.' So, not the flash, but the flow. Payments is a busy corner of the financial world right now, nonetheless. Last month AIB sold its half of AIB Merchant Services to its joint venture partner, Fiserv. In April Barclays closed a strategic partnership deal with Brookfield Asset Management that could result in the Canadian private equity firm eventually taking a 70 per cent stake in the bank's payment acceptance business. Around the same time, Global Payments bought Worldpay for $24.25 billion, making it one of the largest payment processors in the world. It isa crowded space, with the likes of SumUp, Square and Adyen all making inroads in Ireland in recent years after the pandemic cemented cards as the preferred payment method for most retail customers. 'It's a mixture of pure-play fintechs and more established players like ourselves,' Lynch says. 'We like to think of ourselves as having the agility of a fintech with the stability of a bank. There still is a good opportunity for somebody like Elavon to grow. There's still a tonne of cash to be displaced in Europe.' Lynch's career journey has always followed cash, in one way or another. After leaving the family farm in Cavan, he got his B Comm at University College Dublin before getting a postgraduate qualification in accounting and joining Deloitte in the late 1980s, a period he remembers as 'a pretty dire time in Ireland economically'. He says: 'A lot of people got pulled off audit to work on the receivership deals at the time. It was a case of showing up in some industrial estate out in Blanchardstown on a Monday morning with a bunch of security guys to lock the gates before the workers arrived. It was grim to be in the middle of it. But you really got to understand very, very quickly that cashflow is the lifeblood of any business. And when the cashflow dries up, the game's over.' Lynch got out of Deloitte after three years and headed for the newly established International Financial Services Centre, joining the treasury operations of a Canadian packaging company that had a group of subsidiaries across the European Union. It was a real frontier operation, set up in the days when the IFSC was more a concept than a location. 'We weren't even located in the IFSC because there was nothing there in 1989,' he says. 'So we were in the leafy environs of Dublin Industrial Estate, which is in Finglas, above one of the packaging plants.' His career took on a bit more glamour with a role on a mergers and acquisitions team at GE Capital, which was buying up a lot of vendor leasing companies in the 1990s. 'It was a case of make sure you've got five shirts ironed and be at the airport at eight o'clock on a Sunday night — you're going to Sweden,' he recalls. After a stint at Novell, the software company, Lynch set up his own treasury outsourcing services business, helping tech companies during the dotcom era manage their cashflows and payments during a period of frantic expansion. He sold the business to the New Jersey conglomerate JM Huber in 2004 when he realised it needed a bigger balance sheet to scale. 'Part of the deal was that I stay on for a year and then my plan was to take a year off and just travel and just take a breath,' he says. 'I got sort of three quarters of the way through that year and I got a call.' US Bank was looking to get a banking licence in Ireland. The company already had an Irish operation — a joint venture with Bank of Ireland — that it had set up in Arklow, Co Wicklow, in 2000 and then went through 'a period of pretty intense M&A'. Lynch joined in 2006 to integrate and consolidate the 'hodge podge' of businesses that US Bank had acquired over the previous few years and pull it together as a single legal entity with a more defined set of capabilities and a coherent service offering. That is how Elavon was born. Card payment technology and services were still evolving, and Elavon was a pure-play brand, operating across Europe from its Irish base, doing end-to-end processing for hundreds of thousands of merchants. Then Lynch's M&A experience came to the fore through a series of transformative acquisitions, beginning in 2010. US Bank was slightly unusual at the time for choosing Ireland rather than London as its European banking platform, but Lynch calls it a 'talent-led decision'. With the financial crisis in full swing, he set about hoovering up a lot of banking talent in Ireland that was, to say the least, underutilised after the 2008 financial crash. 'We hired a lot of good people from the Irish banks, PTSB in particular. People were a little bit frustrated maybe in terms of their career opportunities post-crisis.' Target No 1 was Bank of America's corporate trust business, based in Carrick-on-Shannon. The US retail banking company was suffering successive ratings downgrades and was forced by regulators to unload certain ratings-sensitive businesses. Next came Quintillion, an Irish fund services provider that had hit a growth wall and was looking for a bank partner to support its growth ambitions. Those two deals expanded US Bank's European horizons beyond payments, but what Lynch calls the bank's most significant acquisition doubled down on its payments pedigree. In late 2019 US Bank bought Sage Pay, an ecommerce platform, for €250 million. 'Right before the pandemic, we closed the deal on the day before the announcement to go home for a week,' Lynch says. 'In some ways, the pandemic was good to us. On the one hand, 50 per cent of our customers shut down overnight. But I think where the positive part of the pandemic was, it sort of really accelerated that displacement of cash for card.' Elavon and US Bank were kind of a safe haven for customers through that time, providing reliability and stability while many businesses had to suddenly reimagine their business models for a locked- down economy. 'US Bank is a 150-year-old Midwest [America] conservative organisation,' Lynch says. 'If you think of all the cycles financial services go through, we tend to miss the highs but we also tend to miss the lows. It's a very, very stable organisation. 'We're not a name that is top of mind, but you're going to see Elavon almost every time you tap your card.' The sense of stability could come in handy through the current uncertainty surrounding global trade and the US-Ireland business relationship, something Lynch says he is watching very closely. 'The Irish-US relationship from a business perspective, I never underplay it,' he says. 'It's been a key part of supporting us and helping us through our journey.' Notwithstanding the volatility around trade and possible impacts on global growth, the payments business is not standing still and Lynch is looking at both organic growth opportunities and partnerships, increasingly with the software world, where payments are increasingly embedded in larger merchant services packages. 'I think there is still a lot of opportunity for a player like us,' he says. 'If you look at the total transaction market in Ireland and Europe, it's 50 per cent cash, 50 per cent card.' What customers want now, he says, as non-cash payments continue to grow, is the kind of stability that a big bank operator can provide. 'We operate at 99.99 per cent,' he says. 'Uptime is critical. This is 24/7, 365 days a year. Payment space is evolving very quickly and to keep up requires investment. These are not small-dollar investments; it's infrastructure-heavy, tech-heavy investment. It doesn't come cheaply. Without throwing shade on others, that is a big differentiating factor.' Age: 59. 'But my Whoop says I'm 56.'Lives: Terenure, DublinFamily: married to Anne, with four adult childrenEducation: St Patrick's College, Cavan; B Comm and postgrad in accounting at University College DublinFavourite film: Once Upon a Time in AmericaRecent read: I Am Pilgrim by Terry Hayes. 'For some reason, I always gravitate towards the mafia section of a bookstore, but this is one I read recently and enjoyed.' I tend to start my day pretty early, around 6am. I like to get a bit of me-time in the morning, so I go to the gym for an hour or an hour and a half and then I get into Cherrywood. I try to divide my day into thirds. A third is typical employee engagement, one–on-ones, team meetings. A third I spend on business issues of the day. And then probably a third on more forward-looking stuff, including a good chunk of time spent with board members. I probably travel two weeks out of four, so I do a fair bit in the US and we have a big European footprint as well. I play quite a bit of golf on weekends; I'd probably call myself an avid golfer. I had a holiday cycling in Sardinia; I wouldn't call myself an avid cyclist. Obviously the usual sort of family stuff. We spend a bit of time in Rosslare.
Business Wire
08-07-2025
- Business
- Business Wire
Merchant Industry Supercharges Growth with Jamie Garfield as Strategic Advisor
LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--Merchant Industry, a nationwide leader in payment technology and merchant services, is proud to announce the appointment of Jamie Garfield as Strategic Advisor, bringing with her an extraordinary 28-year track record of success in the acquiring and payments space. Jamie's appointment marks a bold step forward as the company positions itself for accelerated innovation, channel growth, and long-term success. As Strategic Advisor, Jamie will play a critical role in shaping the company's growth strategy, optimizing go-to-market initiatives, and expanding strategic alliances. Share Throughout her career, Jamie has served in influential leadership roles at Elavon, Global Payments, Nuvei, TransFirst, and others—guiding businesses through digital transformation, strategic partnerships, and revenue expansion. Her ability to bridge vision with execution has earned her recognition across the industry as a powerhouse in driving scalable growth and operational excellence. In addition to her executive accomplishments, Jamie has served on the Board of the Southeast Acquirers Association and continues to advise top fintechs across the payments ecosystem. Her reputation as a connector, strategist, and mentor brings invaluable depth to Merchant Industry at a time when the company is rapidly scaling its agent and ISO networks. 'We're incredibly excited to welcome Jamie to the team,' said Leo Vartanov, CEO of Merchant Industry. 'Her deep knowledge of the acquiring space and her ability to unlock new growth opportunities is exactly what we need as we enter this next phase. Jamie's insight, drive, and industry relationships will help elevate everything we do—from partner engagement to product innovation.' As Strategic Advisor, Jamie will play a critical role in shaping the company's growth strategy, optimizing go-to-market initiatives, and expanding strategic alliances. With her extensive background and visionary approach, she is uniquely positioned to help bring Merchant Industry to new heights—empowering the company to better serve ISOs, partners, and merchants across the country. 'I'm thrilled to be joining such a forward-thinking and ambitious organization,' said Garfield. 'The potential here is enormous. I look forward to working alongside the leadership team to expand our impact, modernize our offerings, and create new opportunities for growth across the entire Merchant Industry ecosystem.' Based in Atlanta, Jamie balances her professional impact with her family life—raising two children (and keeping up with two energetic dogs!) alongside her husband. Her passion for empowering businesses through smarter, more efficient payment solutions makes her a perfect fit for the company's mission to simplify payments and amplify success. About Merchant Industry Founded in 2007, Merchant Industry is a leading nationwide provider of credit card processing and payment technology solutions. With a network of over 20,000 merchants and $5 billion in annual processing volume, the company offers cutting-edge tools and best-in-class support to ISOs and businesses of all sizes. Learn more at
Yahoo
29-06-2025
- Business
- Yahoo
Wyndham Hotels & Resorts, Elavon Partner to Revolutionize Payment Processing for 6,000+ Franchisees
Wyndham Hotels & Resorts Inc. (NYSE:WH) is one of the most undervalued US stocks according to analysts. On June 18, Elavon announced an expanded collaboration with Wyndham Hotels & Resorts. The partnership makes Elavon's Cloud Payments Interface/CPI available to 6,000+ Wyndham franchisees across the US and Canada. The initiative represents a significant advancement in hospitality payments processing. Elavon's CPI is a cloud-based solution that eliminates the need for hotels under Wyndham's 25 brands to purchase or maintain expensive on-site hardware for their property management systems. This reduces operational overhead, minimizes hardware-related security concerns, and enhances the simplicity and security of mobile check-in. A large hotel room with touches of luxury and hospitality in every corner. With CPI, Wyndham franchisees can benefit from scalable payment services, seamless integration with other cloud-based third-party software, and advanced encryption & tokenization technologies to safeguard transactions. Wyndham Hotels & Resorts Inc. (NYSE:WH) is a hotel franchisor in the US and internationally. Elavon is a global payments processor that is owned by US Bank (NYSE:USB), the fifth-largest US bank. While we acknowledge the potential of WH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-06-2025
- Business
- Yahoo
Elavon and Wyndham Expand Collaboration with Cloud Payment Interface for Hotels
Solution enhances mobile check-in as the next step in payments innovation, building on decades-long relationship ATLANTA, June 18, 2025--(BUSINESS WIRE)--Elavon, a wholly-owned subsidiary of U.S. Bank and one of the largest payments processors globally, today announced the expansion of its relationship with Wyndham Hotels & Resorts, making Elavon's Cloud Payments Interface (CPI) available to more than 6,000 Wyndham franchisees across the United States and Canada. Elavon's CPI represents a significant leap forward in hospitality payments processing. By adopting CPI, hotels under Wyndham's 25 brands don't need to purchase or maintain expensive on-site hardware for their property management system. The cloud-based solution reduces operational overhead and minimizes hardware-related security concerns, while enhancing the simplicity and security of mobile check-in. "With CPI, Wyndham franchisees can ensure a streamlined payment process for their hotels that's both secure and adaptable to their future growth needs," said Nicole Tackett, Head of Merchant, Institutional Client Group and Global Airlines. "We're excited to help Wyndham's properties stay ahead of the curve by offering flexible solutions – like mobile check in – that meet the evolving needs of both franchisees and guests." As a provider of choice for Wyndham, Elavon has consistently delivered resilient technology and world-class customer support, empowering hotels to enhance their operations while improving the guest experience. "The shift to Elavon's Cloud Payments Interface helps ensure our franchisees have access to the most modern, secure and reliable payment processing solutions," said Scott Strickland, Chief Commercial Officer, Wyndham Hotels & Resorts. "This is more than just a technological upgrade; it's about enabling a seamless guest experience and reducing complexity. With CPI, we can enable faster check-ins, touchless payments, and a more secure, PCI DSS-compliant environment for all our properties." With CPI, Wyndham franchisees can leverage: Scalable payment services that can rapidly adjust to fit a growing hotel's needs. Seamless integration with other cloud-based third-party software like property management systems, reservation platforms, and loyalty programs. Advanced encryption and tokenization technologies to safeguard transactions. "Elavon has been a trusted partner to Wyndham for two decades, providing seamless, secure, reliable and innovative payment solutions. We're committed to the success of their franchise community," said Tackett. The ongoing collaboration between Wyndham and Elavon underscores both companies' commitment to providing franchisees with the tools, technology, and support needed to thrive in a rapidly changing industry. Elavon's dedication to premier customer service ensures that Wyndham's franchise community can focus on what matters most—delivering exceptional guest experiences. For more information about Elavon's CPI and hotel solution payment solutions, visit here. About Elavon Elavon is owned by U.S. Bank (NYSE: USB), the fifth-largest bank in the United States. It provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, and Canada. As the leading provider for airlines and a top five provider in hospitality, healthcare, retail, and public sector/education, Elavon's innovative payment solutions are designed to solve pain points for businesses from small to the largest global enterprises. About U.S. Bancorp U.S. Bancorp, with approximately 70,000 employees and $676 billion in assets as of March 31, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World's Most Ethical Companies and one of Fortune's most admired superregional banks. Learn more at Deposit products are offered by U.S. Bank National Association. Member FDIC. Services may be subject to credit approval. Eligibility requirements, restrictions and fees may apply. See a business banker for details About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of franchised properties, with approximately 9,300 hotels across over 95 countries on six continents. Through its network of approximately 907,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards loyalty program offers over 115 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit View source version on Contacts Media Contact: Joe Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
