Elavon

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Elavon
Subsidiary
Industry Finance and Insurance
Founder Edward Grzedzinski[1]
Headquarters Atlanta, Georgia
Key people
Jamie Walker, CEO
Products Payment Processing and Gateway Solutions
Parent U.S. Bancorp
Website www.elavon.com

Elavon Inc., formerly NOVA, is a 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 largest U.S. credit card processor and is a top 6 acquirer in the European marketplace.[2]

History[edit]

In May 2000, Nova Corporation and the Bank of Ireland announced the formation a joint venture in Dublin, Ireland, to be called EuroConex Technologies which would process card payment throughout Ireland[3] and eventually the rest of Europe.

In May 2001, U.S. Bancorp announced the acquisition of NOVA Corporation for $2.1 billion in stock and cash.[1][4]

In 2004, NOVA announced that EuroConex is to buy Polish processor "CardPoint" from "Bank Zachodni WBK", owned by AIB,[5] netting AIB approximately €17million in profit.[6] This move allows Bank Zachodni to "sponsor" Euroconex's operations in Poland.

NOVA announces deals with Spanish Banco Santander, and the UK-based Alliance & Leicester, with 27,000 merchant accounts.[7]

In April 2004, Nova Corporation announced that it was buying the rest of EuroConex that it did not own from the Bank of Ireland for €40m.[8][9]

In April 2008, NOVA Information Systems was renamed Elavon.[10][11]

References[edit]

External links[edit]