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

LONDON & ATLANTA, Ga.--()--NOVA Information Systems (NOVA), a wholly-owned subsidiary of U.S. Bancorp (NYSE:USB), is today unveiling its new global company name, Elavon. This follows in the wake of its European affiliate, euroConex, which rebranded to Elavon Merchant Services in 2007. Elavon effectively unites the companys acquiring solutions organisation to address the expanding payment processing needs of its partners and clients.

In conjunction with the rebranding, Elavon announces the development of a new international processing platform which, within Europe, will allow the card acquirer to meet the operational challenges of SEPA head-on.

Elavons development of an international processing platform sees the card acquirer harmonise its operations into a single network. This will allow for the efficient processing of international, cross-border transactions in place of domestic processing, and is a key challenge for the European industry in creating a Single European Payment Area (SEPA). Globally, this platform will allow Elavon to respond quickly to evolving security requirements and technology advances, enabling international merchants to enjoy the benefits of a single acquiring relationship and accounting function.

Stuart C, Harvey, Jr., Chief Executive Officer of Elavon, comments:

Uniting NOVA, euroConex and our other brands under one company name positions Elavon to be recognised as the global leader in the payments industry. Our investment in developing an international processing platform delivers the scale necessary to quickly respond to client and market needs. We now have the opportunity to develop deeper relationships with our customers and partners that broadens our reach into new markets worldwide.

Elavon is positioned to capitalise on emerging market opportunities. Beyond its own strong organic growth, Elavon has profited from several investments made by U.S. Bancorp in driving its expansion. These strategic acquisitions include the Citibank Card Acceptance business in Europe, Cardpoint in Poland, and both First Horizon Merchant Services and Southern DataComm in the United States.

Pamela Joseph, vice chairman, Payment Services, U.S. Bancorp, comments:

U.S. Bank continues to demonstrate its commitment to the payments space by making wise investments in our growth. We believe in the strength of Elavons business model and the opportunities it fosters as we expand worldwide.

Roger Alexander, President of Elavon Merchant Services in Europe comments:

Global end-to-end control enables us to capitalise on emerging market opportunities like SEPA, while keeping our clients compliant, secure, efficient and financially poised for success in the global economy.

About Elavon

Elavons Global Acquiring Solutions organisation is a part of U.S. Bancorp (NYSE:USB). Elavon provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Canada and Puerto Rico. Solutions include credit and debit card processing, electronic check services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring. Elavons services are marketed through multiple alliance partner channels including financial institutions, trade associations and ISOs. Elavon has solutions to meet the needs of merchants in specialised markets including small business, retail, hospitality/T&E, health care, education and the public sector. For more information visit www.elavon.com.

If you would like to speak to Roger Alexander for comment please contact:

Gwyneth Pritchard
Elavon Merchant Services - Europe
ph +44 (0)1483 480147 or +44 (0)782 333 0497

Contacts

Europe
Elavon, Merchant Services
Gwyneth Pritchard, +44-(0)782-333-0497
gwyneth.pritchard@elavon.com
or
North America
Elavon, Global Acquiring Solutions
Michelle Wagner, (+01)-678-731-5064
michelle.wagner@elavon.com
or
U.S. Bank, Media Relations
Teri Charest, (+01)-612-303-0732
teri.charest@usbank.com

Contacts

Europe
Elavon, Merchant Services
Gwyneth Pritchard, +44-(0)782-333-0497
gwyneth.pritchard@elavon.com
or
North America
Elavon, Global Acquiring Solutions
Michelle Wagner, (+01)-678-731-5064
michelle.wagner@elavon.com
or
U.S. Bank, Media Relations
Teri Charest, (+01)-612-303-0732
teri.charest@usbank.com