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U.S. Bank and Elavon to Serve Up Customized Payment Solutions for California Restaurant Association
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Rhea-AI Summary
U.S. Bank and Elavon have partnered with the California Restaurant Association to provide customized payment solutions to over 22,000 restaurants in California. This agreement will enhance restaurant operations and streamline customer payments, responding to a survey indicating that 70% of diners prefer quick payment options. Elavon aims to offer comprehensive banking and payment services, including menu management and real-time sales data, enhancing cash flow and reducing operational costs for restaurant owners. The partnership follows U.S. Bank's acquisition of MUFG Union Bank, bolstering their presence in the state.
Positive
Partnership with California Restaurant Association to serve over 22,000 member locations.
Comprehensive suite of banking and payment solutions enhances operational efficiency for restaurant owners.
Recent acquisition of MUFG Union Bank increases U.S. Bank's market presence in California.
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More than 22,000 California restaurants can access Elavon and U.S. Bank’s payment solutions
ATLANTA & SACRAMENTO, Calif.--(BUSINESS WIRE)--
U.S. Bank and Elavon, one of the world’s largest payment processors, will now serve up customized payment solutions to restaurants across California under an agreement with the California Restaurant Association.
Elavon recently signed a contract with the CRA, a statewide trade association representing 22,000 member locations. The new partnership will provide the tools or resources that ensure the Golden State’s restaurant and hospitality industry can better manage operations and receive customer payments safely, quickly and efficiently.
“The California Restaurant Association needed a payments partner that could help add affinity partners, offer additional value and service options, and maintain and grow memberships,” said Jamie Walker, CEO of Elavon, a wholly owned subsidiary of U.S. Bank and one of the largest payments processors globally. “We plan to deliver on those needs through marketing support, state-wide support and our full suite of banking and payment services.”
Newly released research by U.S. Bank and Elavon found that 70% of restaurant-sector respondents say customers’ ability to order and pay quickly influences their choice of restaurant.
“Six in 10 restaurant finance leaders are seeing increased requests from diners to use alternative payment methods such as peer-to-peer (P2P), as well as mobile wallets, and 47% of survey respondents are boosting spending on contactless devices,” Walker said. “Embracing payments transformation through partnerships like this can help restaurant owners reduce operational expenditure, improve cash flow and enhance customer’s dining and takeout experiences.”
Small business owners, like California restaurant owners, can benefit from the full suite of U.S. Bank banking and payments solutions including capabilities such as menu, order and employee management, invoicing, banking services, and the ability to view sales data in real-time – all from an easy-to-use dashboard that’s accessible anywhere, anytime.
The partnership agreement comes on the heels of U.S. Bank’s recent acquisition of MUFG Union Bank, further strengthening U.S. Bank and Elavon’s presence and service offerings in California.
“Our members are always looking for partners who can provide high value and excellent service,” said CRA Chief Operating Officer, Mike Doerr. “We believe our Association partnership with Elavon will provide that, and Elavon’s service is offered at an attractive price point to CRA members.”
Elavon is wholly owned by U.S. Bank (NYSE: USB), the fifth-largest bank in the United States, and 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.
The California Restaurant Association provides ultimate access to the resources and support that neighborhood restaurants need to lead thriving businesses while serving as conscientious, contributing members of an unparalleled industry. California is home to eating and drinking places that ring up more than $72 billion in sales and employ more than 1.4 million workers, making restaurants an indisputable driving force in the state’s economy.
