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U.S. Bancorp's (USB) Arm Elavon Launches Talech Terminal

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U.S Bancorp (USB - Free Report) subsidiary, Elavon, unveiled a next-generation platform, talech Terminal. The platform will assist small business owners in managing their operations without having to shell out a fortune to buy a new payments system.

The talech Terminal is an easy-to-use point-of-sale solution that will let business owners accept payments from any location, at any time with a wide range of hardware options that include mobile/fixed hardware and in-store terminals. The system also offers a variety of features like a credit card surcharge, inventory management capabilities and employee management support.

Last year, U.S. Bancorp and Elavon launched talech Register as a next-generation integrated payments and business analytics platform. This was designed to enable small business owners to optimize their operations. Now, with the addition of talech Terminal, business owners can access a wider range of payment options.

Pari Sawant, chief product officer for Elavon, stated, "Our goal is to enable small business owners to focus on what they do best, eliminating the burden of managing customer payments. This solution is a perfect option for business owners who value their privacy and prefer not to mix their personal mobile phones for customer transactions."

Joy Ghanekar, chief product officer of talech, commented, "talech Terminal is a continuation of our multi-year strategy to deliver integrated hardware and software payment experiences for our small business customers following the successful launches of talech mobile in 2020 and talech Register in 2022. Terminal goes beyond basic payment acceptance and allows businesses to run their business in a simple, elegant form factor."

U.S. Bancorp’s ongoing investments in innovative product enhancements, services and people are expected to strengthen its fee-based businesses.

Over the past three months, shares of USB have gained 19.2% compared with the industry’s upside of 4.9%.

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Currently, U.S Bancorp carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recently, a few banks like Regions Financial Corporation (RF - Free Report) and Comerica Incorporated (CMA - Free Report) launched new platforms aimed at better serving their customers.

RF’s subsidiary, Regions Bank, announced digital platforms under Regions Treasury Management, namely, BillerXchange and Expresso. These will cater to the needs of its business clients.

The platforms bring together the bank’s customer billing and communication services into an integrated channel. The platforms will allow small businesses to major employers to manage their electronic bill presentment and payments simultaneously.

CMA launched Comerica Maximize, an interest-bearing checking account and competitive cash management solutions for qualifying small business and business banking customers. The new package enables them to earn interest income while growing and protecting their businesses with essential treasury services.

Comerica Maximize has been uniquely designed to optimize customers’ funds and save time.

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