While the 1.2 million small and medium-sized enterprises (SMEs) in the Canada Looking for growth, Elavon provides payment processing for CIBC’s payment acceptance and merchant services platform

TORONTO, January 11, 2023 /CNW/ – To serve the needs of small and medium-sized businesses, CIBC and Pollinate announced today that Elavon has been selected as the payment processing agent to power a platform called Tylde CIBC, which will provide products, services and tools to commercial banking customers.

CIBC Bank’s Tylde will support start-ups, small businesses and entrepreneurs with expansion plans to achieve their ambitions. Entrepreneurs work hard to achieve their ambitions and this platform is uniquely positioned to meet their needs. CIBC’s Tylde digital-first cloud platform enables secure payment acceptance, offers simple point-of-sale technology and offers a range of additional services and functions, such as B. the possibility for merchants to offer loyalty to their customers.

With Tylde at CIBC Bank, we’re excited to help entrepreneurs and business owners achieve their ambitions and grow. Because we offer them an integrated bank-based acquiring solution and partnered with Elavon to support the platform, customers can enjoy the innovation they need with the security and support of a leading bank,” said ChrisSweetland, Senior Vice President, Strategy and Transformation, Payments, CIBC Bank. Because we support the ambitions of entrepreneurs and business owners around the world CanadaCIBC’s Tyl will help them process their customers’ payments while providing them with other tools and products to run their business efficiently.

Elavon is one of the largest payment processing services in the world. The company processes transactions for more than five billion customers every year.

Elavon is proud to be the preferred partner to bring CIBC’s Tyl to Canadian small businesses,” said Jamie Walker, CEO of Elavon. Elavon works with millions of companies worldwide and shares CIBC’s commitment to providing simple, innovative solutions that meet customer needs.

With the launch of CIBC’s Tyl, CIBC has joined a global alliance of tier one banks aiming to create powerful, integrated experiences for their SMB clients, beginning with acquisition. Other banks that are members of this alliance are NatWest and National Australia Bank.

Small businesses around the world face unprecedented challenges and it’s an honor to work with banks that show such a commitment to their success, said FionaRoachCanning, co-founder of Pollinate. We continue to see consistent trends in SMB needs from country to country and are excited to partner with Elavon at the Canada Dealers around the world to serve together.

About CIBC

CIBC is a major North American financial institution serving 13 million individual and corporate customers, including institutional and public customers. Through Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a comprehensive range of advice, solutions and services through its leading digital banking network and locations in Canada, the United States and around the world.

About pollinating

Pollinate enables banks to offer their small business customers and consumers state-of-the-art digital tools, transforming the profitability of a traditional acquiring business. Pollinate has built a global alliance of like-minded banks committed to harnessing the power of data to create powerful digital experiences. Partners and investors include NatWest, National Australia Bank, CIBC Bank, Insight Partners, Fiserv and Mastercard.

About Elavon

Elavon is a leading global payments company with more than 4,300 employees and operations in 10 countries. Elavon is wholly owned by USBank (NYSE: USB), the 5th largest bank in the United States, and provides end-to-end payment processing solutions and services to more than 2 million customers across the United States. Europe and at Canada. It is the number one provider to airlines and a top five provider in hospitality, healthcare, retail, public sector and education, and its innovative payment solutions d’Elavon are designed to solve the problems of businesses, from small to large the largest largest global companies.

SOURCECIBC

Press release sent on January 11, 2023 at 07:00 and distributed by: