Elavon

Elavon

Elavon

Credit card processing

Elavon Inc., formerly NOVA, is a processor of 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]

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History

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 was to buy Polish processor "CardPoint" from "Bank Zachodni WBK", owned by Allied Irish Banks,[5] This move allowed Bank Zachodni WBK to "sponsor" Euroconex's operations in Poland.

NOVA announced deals with the Spanish Banco Santander, and the UK-based Alliance & Leicester, with 27,000 merchant accounts.[6]

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.[7][8]

In April 2008, NOVA Information Systems was renamed Elavon.[9][10]

In November 2019 Elavon announced the acquisition of the UK and Irish Sage Pay business from Sage Group for £232 million.[11][12]

See also

References

  1. [1]
    "U.S. Bancorp to Acquire NOVA Corporation: Combined Companies Create $100 Billion Merchant Payment Processor". PR Newswire (Press release). May 7, 2001.
  2. [2]
    "Major Online Credit Card Theft Scam Busted, Pt.3: Unsuspecting money mules". Extra Credit Cards.com (blog). June 29, 2010. Archived from the original on November 1, 2012. Retrieved March 7, 2012.
  3. [3]
    Creaton, Siobhan (May 10, 2000). "B of I joint venture with Nova to create 500 jobs". The Irish Times.
  4. [4]
    "U.S. Bancorp Buys Processor of Credit Card Debt". The New York Times. May 8, 2001.
  5. [5]
    "NOVA acquires CardPoint of Poland from Bank Zachodni WBK". Business Wire (Press release). April 23, 2004. Archived from the original on June 7, 2008 – via FindArticles at BNET.
  6. [6]
    "NOVA to buy Alliance & Leicester's merchant acquiring business". Finextra. April 30, 2004.
  7. [7]
    McCaffrey, Una (April 29, 2004). "B of I to sell 50% stake in EuroConex for €40m". The Irish Times.
  8. [8]
    "Outsourcer playing his cards right as Bank of Ireland quits venture". Irish Independent. May 6, 2004.
  9. [9]
    "NOVA Information Systems Becomes Elavon, Joining Europe in Establishment of Global Acquiring Solutions Organisation: U.S. and Europe Align and Unveil International Processing Platform to Address the SEPA challenge". Business Wire (Press release). April 16, 2008.
  10. [10]
    Brewer, Bill (April 16, 2008). "NOVA officially changes to Elavon". Knoxville News Sentinel.
  11. [11]
    "Elavon acquires Sage Pay, expanding its presence and services for customers in the UK, Ireland". Elavon. November 2019. Retrieved November 18, 2019.
  12. [12]
    "Disposal of Sage Pay". Sage Group plc. November 18, 2019. Retrieved November 18, 2019.
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