Elavon Inc., formerly NOVA, is a processor of

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

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.

History

In May 2000, Nova Corporation and the

Bank of Ireland Bank of Ireland Group plc ( ga, Banc na hÉireann) is a commercial bank operation in Ireland and one of the traditional Big Four Irish banks. Historically the premier banking organisation in Ireland, the Bank occupies a unique position in Iris ...

announced the formation a joint venture in

Dublin Dublin (; , or ) is the capital and largest city of Republic of Ireland, Ireland. On a bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, bordered on the south by the Dublin Mountains, a part of th ...

Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...

, to be called EuroConex Technologies which would process card payment throughout Ireland 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. In 2004, NOVA announced that EuroConex was to buy Polish processor "CardPoint" from "Bank Zachodni WBK", owned by

Allied Irish Banks Allied Irish Banks, p.l.c. is one of the so-called Big Four commercial banks in Ireland. AIB offers a full range of personal, business and corporate banking services. The bank also offers a range of general insurance products such as home, trav ...

, This move allowed Bank Zachodni WBK to "sponsor" Euroconex's operations in Poland. NOVA announced deals with the Spanish

Banco Santander Banco Santander, S.A., doing business as Santander Group (, , Spanish: ), is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centr ...

, and the UK-based

Alliance & Leicester Alliance & Leicester plc was a British bank and former building society, formed by the merger in 1985 of the Alliance Building Society and the Leicester Building Society. The business demutualised in the middle of 1997, when it was floated o ...

, with 27,000 merchant accounts. 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. In April 2008, NOVA Information Systems was renamed Elavon. In November 2019 Elavon announced the acquisition of the UK and Irish

Sage Pay Opayo, formerly Sage Pay, is a payments processing service owned by Elavon. It operates in the UK and Ireland. The company provides online payments processing as well as products for face-to-face and telephone payments. It was known by the name ...

business from

Sage Group The Sage Group plc, commonly known as Sage, is a British multinational enterprise software company based in North Tyneside, England. As of 2017, it is the UK's second largest technology company, the world's third-largest supplier of enterpri ...

for £232 million.

References

External links

* Merchant services Payment systems Financial technology companies U.S. Bancorp Companies based in Atlanta 2001 mergers and acquisitions {{U.S. Bancorp

History

See also

References

External links