Elavon

Elavon

Elavon Inc., formerly NOVA, is a major processor of credit card transactions and a subsidiary of U.S. Bancorp. Elavon offers merchant processing in more than 30 countries and supports the payment needs of more than 1,000,000 merchant locations across the globe. Elavon is the 4th[citation needed] largest U.S. credit card processor and is a top 6 acquirer in the European marketplace.

Elavon
Type Subsidiary
Industry Finance and Insurance
Headquarters Atlanta, Georgia
Key people Mike Passilla, CEO
Products Payment Processing and Gateway Solutions
Parent U.S. Bancorp
Website www.elavon.com

Contents

History

1991

NOVA founded in Atlanta, GA.

2000

EuroConex founded as a joint venture between NOVA Information Systems and Bank of Ireland.

2001

USBancorp acquired NOVA Information Systems.

EuroConex acquires Flexicom, an Irish developer of card-acquiring solutions, for €1.5 million.

2004

NOVA announces that EuroConex is to buy Polish processor “CardPoint” from “Bank Zachodni WBK “, owned by AIB[1], netting AIB approximately €17million in profit[2]. This move allows Bank Zachodni to ‘sponsor’ Euroconex’s operations in Poland.

Bank of Ireland announces that it is to sell its stake in EuroConex to NOVA for €40 million, valuing the company at €80 million.

NOVA announces deals with Spanish Banco Santander, and the UK-based Alliance & Leicester, with 27,000 merchant accounts[3].

NOVA and EuroConex technical teams are merged in an effort to reduce redundancy and improve efficiency. They are tasked with building a single International Processing Platform.

NOVA expands to Canada.

2005

Stuart Harvey is appointed CEO of NOVA.

Euroconex completes the Alliance & Leicester migration.

Euroconex announces acquisition of Citibank Card Acceptance, with the transfer of 160 staff from Citibank to Euroconex.

2006

NOVA acquires First Horizon Merchant Services and all related assets including Global Card Services (GCS gateway.)

2007

NOVA enters Puerto Rico through an alliance partnership with Banco Santander.

euroConex becomes Elavon.

2008

Elavon completes International Processing Platform conversion in Europe, becoming first-to-market with a single, consolidated processing platform.

NOVA becomes Elavon — North America and Europe businesses align under one Global Acquiring Solutions organization.

Elavon acquires Southern DataComm.

2009

Southern Datacomm and GCS are re-branded “Elavon”

2010

Mike Passilla is named CEO of Elavon

References

  1. ^ NOVA acquires CardPoint of Poland from Bank Zachodni WBK | Business Wire | Find Articles at BNET
  2. ^ AIB Annual Report 2004
  3. ^ Finextra: NOVA to buy Alliance & Leicester's merchant acquiring business

External links



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