Monday, September 28, 2009

Elavon Acquires Diners Club Merchant Portfolio From Citibank

By Holly Lytle

Atlanta, GA and London, U.K. – September 28, 2009 –Elavon a wholly-owned subsidiary of U.S. Bancorp (NYSE: USB) and a leading global payments provider, has acquired Citibank’s Diners Club Card merchant-location portfolio in Western Europe, representing more than 75,000 merchants.

A further agreement signed with Diners Club International® Ltd., a business unit of Discover (NYSE: DFS), will add Diners Club card acceptance to Elavon’s portfolio of payment processing services. Elavon will perform processing, funding and customer support for merchants that accept Diners Club International cards in the UK, Ireland, France, Benelux, Switzerland and Germany. Merchants will have the option to consolidate their payments acceptance by utilizing Elavon as a single-source provider for other credit and debit card transactions, eliminating the need for merchants to maintain separate processing relationships.

“We look forward to extending Elavon’s robust and secure international processing platform and outstanding customer service to the many Diners Club accepting merchants across Europe,” said Stuart C. Harvey, Jr., CEO of Elavon. “Adding Diners Club processing capabilities further underscores our value proposition as one reliable source for merchants.”

Diners Club and Discover processing will be included as part of Elavon’s new merchant program offering, creating more acceptance opportunities for card members, especially at small- and mid-size business locations.

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. Visit Elavon online at www.elavon.com.

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