Tuesday, September 9, 2008
Elavon and City National Bank Sign Multi-Year Extension for Merchant Processing Marketing Alliance
By Holly Lytle
Agreement extends relationship through 2013
September 9, 2008
ATLANTA and LOS ANGELES - September 9, 2008 - Elavon, formerly NOVA Information Systems, has renewed its marketing alliance for merchant referral business with City National Bank, a wholly owned subsidiary of City National Corporation (NYSE: CYN). The five-year agreement extends a more than 15-year long relationship between Elavon and City National.
City National Bank, with offices in Southern California, the San Francisco Bay area, Nevada and New York City, will continue marketing Elavon's merchant processing services to new and existing clients. Those services include credit and debit card processing; Internet and wireless payment processing; and online reporting management tools.
"We're excited to continue what has been a long and very strong relationship," said Steven Wildemuth, City National senior vice president and group manager, Cash Management. "Elavon provides the value-added payment processing solutions our merchant clients need and, equally important, delivers them with the high level of service that our clients have come to expect from City National."
"City National Bank is an exemplary organization that delivers long-term value to their clients," said Stuart C. Harvey, Jr., CEO of Elavon. "After 15 years, we have an in-depth understanding of their core business values, and we look forward to the continued delivery of robust solutions and quality service to enhance their customers' experience."
Elavon's Global Acquiring Solutions organization is a part of U.S. Bancorp (NYSE: USB). 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. Elavon represents the former brands of NOVA Information Systems and its affiliates FHMS and euroConex. For more information about Elavon visit www.elavon.com.
About City National Bank:
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City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $16.3 billion in total assets, and provides banking, investment and trust services through 62 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. The company and its eight majority-owned investment affiliates manage or administer $53.5 billion in client investment assets, including $34 billion under direct management. For more information about City National, visit the company's Website at www.cnb.com.