Wednesday, January 10, 2007
Independent Bankers Bank Selects NOVA as Merchant Processing Partner
By Holly Lytle
ATLANTA - 10 January 2007 - NOVA Information Systems (NOVA), a wholly owned subsidiary of U.S. Bancorp (NYSE: USB), announced that it has entered into an alliance marketing agreement with Independent Bankers Bank (IBB). NOVA will provide processing services, customer service and support operations to more than 5,800 merchants of IBB’s member bank network. Merchant services will be marketed through 162 referral and correspondent banks throughout Florida, Georgia and Alabama. The credit and debit card processing volume from this agreement is expected to exceed $600 million annually. The conversion of existing merchants is expected to be completed by June 1, 2007.
“We selected NOVA as a processing partner based on their reputation for excellence and their commitment to outstanding customer service,” said Jim McKillop, president and CEO, IBB. “NOVA’s track record in successful partnerships with leading financial institutions will enhance our bank members’ ability to provide expanded processing services to merchants at a very competitive price and allow our member banks to grow market share.”
“NOVA continues to prove the value of its powerful alliance referral model and we are pleased that IBB has put their trust in us,” said Stuart C. Harvey, Jr., president, NOVA. “We are confident that IBB merchants will find our product portfolio rich with solutions to help their businesses.”
About Independent Bankers Bank
Independent Bankers Bank (IBB) is a state chartered Federal Reserve Member Bank organized to provide financial services to Community Banks. Chartered since 1983, we provide Credit, Investment, Payment and Audit/Consulting services to over 310 community financial institutions throughout Florida, Georgia and Alabama. IBB is committed to providing correspondent services that keep community banks strong and competitive in today’s market. For more information please visit www.ibbfla.com.
NOVA Information Systems, a leader in the payment processing industry is a wholly owned subsidiary of U.S. Bancorp (NYSE: USB). Combined, NOVA and its affiliates First Horizon Merchant Services, euroConex and Elan provide global merchant processing services to financial institutions and clients in the United States, Canada, and Europe. NOVA offers integrated payment processing services to more than 1,000,000 merchants worldwide. For more information, visit www.novainfo.com.
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