|
NOVA MERCHANT SERVICES
NOVA is a firm which is now known by the
name Elavon. They are among the credit
card processors of United States.
Euroconex is their European division.
They provide services on merchant
processing in different countries. The
total number of countries which utilize
their services will be more than 30.
Their other function is to support the
payment requisites of merchant locations
which are spread all over the world and
will be around 1,000,000.
NOVA Comes third among the American
firms which process credit cards. The
Euroconex is also doing very well.
The rebranding of Euroconex and NOVA
Information Systems happened in 2008 in
April as “Elavon Merchant Services”.
With this the splitting of the firm also
was initiated. The splitting was based
on their location. Presently the company
operate based in four places which are
Asia, North America, Europe and South
America.
The history of the firm is as given
below.
NOVA was the host initially of a system
of acquiring associated with the
Computing Centre of Ireland Bank. They
also develop facilities out of Dublin
for support of their operation.
NOVA was also able to update and
localise the acquiring system which is
United States Centric. There by they
provided support for several languages
as well as currencies, Debit Cards
(Laser), processing which was BIN based
besides American Express.
NOVA Information Systems was acquired by
US Bancorp in the year 2001. Later they
broke.
Also in 2001 Flexicom an Irish based
firm was acquired by USBancorp.
The Ireland Bank later decided to sign
Intent Letters with the firm TSYS. There
was a tough competition between NOVA and
TSYS at that time. This was a huge
setback for NOVA.
In 2004 NOVA announced that Euroconex
will be buying CardPoint which was a
polish process from the Bank Zachodini
WBK. The owner of it was AIB.
In the same year NOVA announced their
contract with Banco Santander of Spain
and Alliance And Leiceister which was
based at United kingdom.
There were efforts from the side of
USBancorp to acquire control over
Euroconex. As part of their efforts they
started sidelining key managers who were
Irish and appointed employees of NOVA or
USBancorp into positions in Ireland.
In 2005 NOVA announced redundancies
because of Fiscal Pressures at Euroconex.
The founding of Euroconex took place in
2000. It was a mutual venture between
Ireland Bank and NOVA.
The flagship product by Euroconex is the
conversion of Currency. By utilizing
this service a card holder who is not
Irish can make payments in their own
currency. The payment of exchange will
also be very reasonable. The rate will
be reasonable when compared with the
charge which the own bank of the
cardholders takes. They also obtained
daily rates with a discount by the
Ireland Bank currency trade desks on
each day. This helped them in making a
profit.
The chief Executive Officer of the firm
is Stuart Harvey.
More information on the company can be
obtained from the internet site which is
www.elavon.com. |
