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Elavon and payleven Facilitate Mobile Payments

Enabling small and independent businesses to accept card payments efficiently, quickly and cost effectively using their smartphone or tablet

WATFORD, England--(BUSINESS WIRE)--Nov. 7, 2012-- Elavon, a wholly owned subsidiary of U.S. Bancorp (NYSE: USB) and a leading global payment solutions provider, and payleven, Europe’s mobile payments pioneer, have joined forces to boost mobile debit and credit card acceptance by small and independent businesses in Europe.

payleven’s innovative solution turns smartphones and tablets into mobile debit and credit card processing terminals using its free software app (available for Apple iOS in the App Store and for Android devices in the Googleplay store) plus a free card reader (or “dongle”). Elavon provides end-to-end payment processing (acquiring) services – mobile payments cannot be transacted without this functionality. The solution is currently running successfully in Germany, Italy, Netherlands, Poland and the UK. payleven has also recently announced the introduction of its new Chip & PIN reader across Europe which will enable all businesses, regardless of size, to accept secure payments from all major credit and debit card providers.

payleven initially spoke to several card acquiring companies: however, it very quickly concluded Elavon was the right choice because of its international processing capabilities, together with its fast and flexible approach. "Elavon is the perfect partner for an innovative project like this," says Alexander Zumdieck, Co-Founder of payleven. "There is no other card payment service provider better positioned across Europe than Elavon. With its powerful, international payment and service infrastructure, we chose a provider who realises our services professionally, quickly and safely."

The solution is of particular relevance for small and independent businesses that are often owner operated and often mobile - such as mobile beauticians, hairdressers, market traders, electricians, plumbers, gardeners, delivery services, taxis etc. The solution is quick, easy and cost effective to use and includes transaction acceptance authorisation and approval, billing and online reporting and customer service which are all provided by Elavon.

“Elavon is committed to delivering solutions that enhance business opportunities for its customers, of all sizes, helping to make them more efficient and more profitable. payleven’s solution is perfect for the thousands of very small, often mobile, businesses in Europe today. Such businesses have previously not been able to accept card payments easily or cost effectively,” commented Jan Reinink, Head of Business Development in Germany.

About Elavon (www.elavon.com): Elavon’s Global Acquiring Solutions organization provides end-to-end payment processing services to over 1.2 million merchants in the US, Europe, Canada, Mexico, Puerto Rico and Brazil. Elavon markets solutions including credit and debit card processing, dynamic currency conversion, multi-currency support, and cross-border acquiring through multiple alliance channels and tailors services to meet the needs of customers in small business, retail, hospitality/T&E, health care, education and the public sector. European activities are conducted through Elavon Financial Services Limited, an Irish registered bank headquartered in Dublin, which is a wholly owned subsidiary within the U.S. Bancorp (NYSE: USB) group of companies.

payleven: payleven, Europe’s mobile payments pioneer, is a start-up with its headquarters in Berlin and London and was founded in March 2012. payleven is founded by a group of young entrepreneurs who want to do things differently from the way big businesses operate. Our team members come from the payments and financial service industries (including large corporations like American Express, Travelex and Visa as well as small payment startups) and also from the software and technology sectors. The company is under the leadership of Co-Founders Rafael Otero, Alston Zecha, Konstantin Wolff and Dr. Alexander Zumdieck and currently employs around 70 employees. Additional Information and Press Material can be found at www.payleven.com/press.

Source: Elavon

For Elavon
Claire Gajeckyj (Europe)
Direct line: 01923 651542
Jessica Dixon (Agency, Europe)
Telephone: 020 7403 6900
Louise Mulherin (Americas)
Direct line: 404-607-7459

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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