Elavon Inc., formerly NOVA, is an American 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.[1]
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[2] 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.[3][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]
In August 2024, Elavon acquired Salucro Healthcare Solutions.[12]
See also
- US Bankcard Services Inc
External links
References
- Major Online Credit Card Theft Scam Busted, Pt.3: Unsuspecting money mules Extra Credit Cards.com (blog), June 29, 2010, retrieved 2012-03-07^
- Siobhan Creaton. B of I joint venture with Nova to create 500 jobs The Irish Times, May 10, 2000^
- U.S. Bancorp to Acquire NOVA Corporation: Combined Companies Create $100 Billion Merchant Payment Processor PR Newswire, May 7, 2001^
- U.S. Bancorp Buys Processor of Credit Card Debt The New York Times, 2001-05-08, retrieved 2024-07-17^
- NOVA acquires CardPoint of Poland from Bank Zachodni WBK Business Wire, April 23, 2004^
- NOVA to buy Alliance & Leicester's merchant acquiring business Finextra, April 30, 2004, retrieved May 14, 2009^
- Una McCaffrey. B of I to sell 50% stake in EuroConex for €40m The Irish Times, April 29, 2004^
- Outsourcer playing his cards right as Bank of Ireland quits venture Irish Independent, May 6, 2004^
- 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, April 16, 2008^
- Bill Brewer. NOVA officially changes to Elavon Knoxville News Sentinel, April 16, 2008^
- Sage Group to sell payment processing unit for 232 million pounds reuters.com, November 18, 2019^
- Lynne Marek. U.S. Bank buys healthcare payments firm Banking Dive, retrieved 2025-01-29^