Single, Cross-Border Processing Platform Boasts Competitive Advantage
ATLANTA & LONDON--(BUSINESS WIRE)--Oct. 27, 2008--Elavon, a
wholly-owned subsidiary of U.S. Bancorp (NYSE: USB), and formerly
known as NOVA Information Systems, is the first pan-European acquirer
to successfully convert its merchant services business onto one
international processing platform. Where competitors may operate as
many as 26 authorization and settlement platforms, Elavon's European
conversion of multiple, disparate legacy processing systems into a
single, international processing platform (IPP) lends new meaning to
the phrase, "economies of scale."
As a result of rapid expansion via acquisitions, strategic
alliances and joint ventures, Elavon - like many of its pan-European
competitors - utilized multiple IT processing platforms to support its
cross-border and multi-currency international business and its
domestic businesses in Belgium, Germany, Ireland, Norway, Poland,
Spain and the United Kingdom. By replacing multiple processing
platforms obtained through acquisitions with one consolidated
international processing platform, Elavon is better able to provide
seamless support to global retailers and other customers with
multi-jurisdiction businesses.
With the successful systems migration of over 210,000 European
merchants, virtually all of Elavon's international acquiring volume is
now processed on a single platform.
"Now Elavon owns the entire payment process, end-to-end. That
means our merchants are supported by global presence and capabilities
with local market support," said Stuart C. Harvey, Jr. CEO of Elavon.
"We are the one source for all merchant needs from processing and
settlement to underwriting, risk services, customer support,
reporting, voice authorization, and assistance with chargebacks."
The creation of IPP enables Elavon to more quickly respond to
emerging technology initiatives like mobile commerce, industry
regulations, like SEPA, security requirements such as PCI-DSS and
domestic scheme standards. The efforts associated with system design,
development, testing, certification and maintenance are now supported
through one development and release cycle, reducing the margin of
error and speeding time to market.
"Beyond the bottom-line impact, our international processing
platform enables Elavon to provide better service to partners and
customers across the globe," said Harvey. "It has already proven to be
a differentiating factor in competitive situations, lending us
competitive edge to offer global organizations a single-source
provider of payment services, regardless of where they operate their
business."
The foundation for Elavon's continued global expansion, the
development of the international processing platform also enables
Elavon to capitalize on the growth of electronic transactions in
emerging markets, as well as the emerging globalization of the
payments industry overall.
About Elavon: Elavon's Global Acquiring Solutions organization is
a part of U.S. Bancorp. 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. Elavon's 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
specialized markets including small business, retail, hospitality/T&E,
health care, education and the public sector. Elavon represents the
former brands of NOVA Information Systems and its affiliates FHMS and
euroConex. For more information about Elavon visit www.elavon.com.
CONTACT: Elavon Media Relations
Holly Lytle, 678-731-5236
Holly.Lytle@elavon.com
or
Jennifer Wendt, 612-303-0732
SOURCE: Elavon
