U.S. Bank Home   Customer Service   Contact Us   Locations   Careers   About U.S. Bancorp   
U.S. Bank

Search
 
About



About



Related Links
Careers at U.S. Bancorp
Community Relations
Corporate Governance
Resources
IR Tool Kit
Print PagePrint Page
E-mail PageE-mail Page
RSS FeedsRSS Feeds
IR ContactsIR Contacts


Printer Friendly Version View printer-friendly version
<< Back
Elavon Expands Multi-Currency Capabilities Across Its Single European Processing Platform
Dynamic Currency Conversion Solution Supports 48 Currencies

LONDON & ATLANTA--(BUSINESS WIRE)--Jun. 2, 2009-- Elavon, a wholly owned subsidiary of U.S. Bancorp (NYSE:USB) and a leading global card acquirer, today announced enhancements to its proprietary international processing platform that expands multi-currency, cross-border and Dynamic Currency Conversion (DCC) capabilities for merchants. Elavon’s robust network has the ability to authorise in 89 currencies, settle in 16, and convert up to 48 currencies for DCC. In addition, Elavon has launched DCC in Germany, where the processor can currently convert 27 currencies, giving its merchants the ability to generate a new revenue stream by sharing in the conversion fees.

“Elavon’s expanded currency solutions demonstrate the scale and efficiencies inherent in our international processing platform,” said Stuart C. Harvey, Jr., Elavon’s CEO. “When combined with our flexible and secure processing solutions, merchants have the ability to realise financial efficiencies and improve their bottom line, a welcome benefit in this economy.”

The number of currencies supported for DCC varies slightly by country and point-of-sale solution, but Elavon is the first card acquirer in Germany to offer DCC in more than 25 currencies.

“Our foreign guests at Savoy Hotel Dusseldorf find DCC to be very convenient,” said Jasmin Dankel, Director of Operations at BrownHouse Hotels & Resorts, an Elavon merchant. “Our guests better understand their charges when they pay in their own currency, and find it easier to reconcile purchases when paying their card balances.”

Elavon’s DCC solution delivers a smooth conversion process for merchants and card holders. Conversion rates are accurate, market-driven, and updated daily. As a single source provider, Elavon manages the entire conversion process – from direct treasury exchange rates and transaction processing, to back-end reconciliation, settlement and funding.

About Elavon: Elavon’s Global Acquiring Solutions organisation is a part of U.S. Bancorp (NYSE: USB). Elavon provides end-to-end payment processing services including credit and debit card processing, electronic cheque services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring to meet the needs of merchants in specialised markets including small business, retail, hospitality/T&E, health care, education and the public sector. Elavon represents the former brands of euroConex, NOVA Information Systems and its affiliates FHMS. For more information visit www.elavon.com.

Source: Elavon

Elavon
Holly Lytle, 678-731-5236
Holly.Lytle@elavon.com
or
Julia Makarevitch, +49-69-260-3285
Julia.Makarevitch@elavon.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. U.S. Bancorp does not undertake an obligation, and disclaims any duty, to update any of the information on or available through this site.

This site is supported through the use of Microsoft Internet Explorer Browser, version 6.x or higher. Use of older or other browsers may cause pages to improperly display. We regret any inconvenience that this may cause.





Privacy Pledge   |   © 2010 U.S. Bancorp Site Map   |   Careers