Wally Mlynarski Named Elavon CEO

WHY THIS MATTERS: The appointment of Wally Mlynarski as CEO of Elavon signals a strategic doubling-down on technology-driven growth within the highly competitive merchant acquiring space. This move is significant not just for U.S. Bank, but as a barometer for where large global processors are allocating their leadership talent. Mlynarski’s background, particularly in product and merchant services at major banks, indicates an intent to accelerate Elavon’s focus on building flexible, integrated solutions. The modern trend of embedded payments—where transactions are seamlessly built into industry-specific software, especially in high-volume sectors like airlines and hospitality where Elavon is dominant—requires leaders with deep technological foresight. This leadership change is a value signal to merchants that Elavon is committed to streamlining complex payment challenges through advanced platforms, making transaction flow a competitive advantage rather than an operational burden.

Wally Mlynarski has been named CEO of Elavon, a wholly owned subsidiary of U.S. Bank, delivering secure, scalable payments solutions and dedicated support to businesses across the United States, Europe and Canada.

Mlynarski most recently led merchant services and receivables at Bank of America. He previously spent seven years with U.S. Bank supporting Elavon, where he held leadership roles including chief product officer. In his new role, Mlynarski will report to Mark Runkel, vice chair and head of Payments: Merchants and Institutional at U.S. Bank.

“Wally’s extensive industry expertise will play a critical role in our continued growth as we deliver scalable, tech-led and embedded payments innovation for businesses of all sizes,” said Runkel. “His visionary leadership — combined with his deep understanding of our business — positions Elavon to continue helping customers solve their most complex payment challenges.”

Mlynarski holds a bachelor’s degree in computer engineering from the Georgia Institute of Technology in Atlanta. He is active in the Electronic Transactions Association (ETA), American Transaction Processors Coalition (ATPC) and the Metro Atlanta Chamber of Commerce. Mlynarski also volunteers with local youth sports teams in lacrosse and softball, and Atlanta based City of Refuge, an organization that supports battered women and victims of human trafficking.

He lives in metro Atlanta with his wife, Jessica, and their two daughters.

“I am honored to return to Elavon and help advance its position as a leading provider of premier payment experiences for our clients,” Mlynarski said. “Elavon’s commitment to delivering innovative solutions in a rapidly evolving environment empowers businesses to grow, support their customers and deliver superior service through advanced payments technology.”

Mlynarski succeeds Jamie Walker, who is transitioning to lead U.S. Bank’s newly created digital assets and money management organization after serving as Elavon CEO since 2017.

Elavon is a global payments leader, processing more than $576 billion in transactions worldwide annually. Backed by U.S. Bank, the fifth-largest commercial bank in the United States, Elavon offers a broad range of technologies and scalable payment solutions to businesses of all sizes. Elavon is the trusted payments partner for eight of the top 10 global airlines and seven of the top 10 largest U.S. hotel brands.

FF NEWS TAKE: This leadership transition does move the needle, specifically in terms of strategic clarity. Bringing a known product expert back into the top role suggests a strong push toward accelerating platform modernization and advancing their strategy in embedded payments. Equally crucial is the departure of his predecessor to lead U.S. Bank’s new digital assets group, signaling a serious institutional commitment to crypto infrastructure. We will be watching for Elavon’s success in leveraging U.S. Bank’s balance sheet to expand its geographic and technological reach.