Elavon
| Company type | Subsidiary |
|---|---|
| Industry | Payment processing |
| Predecessor | NOVA |
| Headquarters | Atlanta , United States |
Area served | More than 30 countries globally |
| Products | Merchant processing services |
| Parent | U.S. Bancorp |
Elavon Inc., previously known as NOVA, operates as a card payment processor and is a subsidiary of U.S. Bancorp. It delivers merchant processing services across more than 30 countries, supporting upwards of 1,000,000 merchant locations globally. Elavon holds the position of the fourth-largest credit card processor in the United States and ranks among the top six acquirers throughout Europe.
History
In May 2000, Nova Corporation partnered with the Bank of Ireland to establish EuroConex Technologies in Dublin, with a focus on card payment processing throughout Ireland and the broader European market.
By May 2001, U.S. Bancorp completed the acquisition of NOVA Corporation for $2.1 billion in a combination of stock and cash, resulting in a consolidated merchant payment processor managing transactions valued at $100 billion.
NOVA's European expansion continued in 2004 when EuroConex acquired CardPoint, a Polish payment processor owned by Bank Zachodni WBK, part of Allied Irish Banks. This acquisition allowed Bank Zachodni WBK to act as a sponsor for EuroConex’s operations in Poland. Additionally, NOVA secured agreements with Spain’s Banco Santander and the UK’s Alliance & Leicester, adding 27,000 merchant accounts to its portfolio.
In April 2004, Nova completed the purchase of the remaining EuroConex shares from Bank of Ireland for €40 million.
The company underwent rebranding in April 2008, changing from NOVA Information Systems to Elavon to create a unified global acquiring platform spanning the U.S. and European markets.
In November 2019, Elavon expanded its footprint by acquiring UK and Irish operations of Sage Pay from Sage Group for £232 million, enhancing both its regional presence and service capabilities.
Most recently, in August 2024, Elavon broadened its portfolio through the acquisition of Salucro Healthcare Solutions.