Welcome to the News View for "Nova Information Systems".
Here, on these archive pages, you'll find all of the articles on Payments News for Nova Information Systems listed in date sequence beginning with the most recent article at the top of the page.
NOVA Information Systems, a wholly owned subsidiary of U.S. Bancorp, and American Express have announced "the signing of an agreement under which NOVA will sign up and service American Express merchants on behalf of American Express. Under the terms of the agreement, NOVA will add American Express® Card acceptance to the payment processing services offered to merchants. NOVA will provide processing, settlement, customer support and reporting to merchants for all major card brands."
NOVA Information Systems has announced a data security compliance program to help "Level 4" merchants comply with the Payment Card Industry Data security Standard (PCI DSS). According to the PCI DSS, Level 4 merchants are defined by processing fewer than 20,000 e-commerce transactions and/or fewer than 1 million Visa or MasterCard transactions annually. NOVA currently processes for more than 850,000 merchants in North America, most of which meet the Level 4 criteria.
NOVA Information Systems, a wholly owned subsidiary of U.S. Bancorp, has announced that American Airlines has "entered into a multi-year credit card processing services agreement for its domestic bankcard business. In addition to performing all clearing and settlement functions, NOVA will provide a full range of services, including customer support and chargeback processing."
NOVA Information Systems has announced that it has enhanced its Electronic Check Service (ECS) product to meet the needs of multi-lane retailers by eliminating the investment in check imaging technology at the point of sale (POS). ECS now combines the benefits of real-time check authorization and risk mitigation services with back-office image uploads, resulting in improved cash flow and reduced risk.
With the latest round of quarterly financial results, several banks have reported their merchant acquiring business volumes for the third quarter. Of particular interest is the 18% growth experienced by Chase Paymentech - handling $168.7 billion in payment volume during the quarter. Bank of America's Merchant Services unit grew by 6.2% to $97 billion in payment volume while US Bank's Nova handled $56.4 billion, up over 26% although US volume vs. international isn't broken out in Nova's numbers.
NOVA Information Systems and Discover Financial Services have announced the signing of a merchant acquiring agreement enabling NOVA to add Discover Network card acceptance to its portfolio of payment processing services. NOVA will provide consolidated pricing, underwriting, risk management, processing, settlement, support and reporting to its merchants, simplifying payments processing.
NOVA Information Systems (NOVA), a wholly owned subsidiary of U.S. Bancorp, has announced that it has entered into a definitive agreement to acquire the merchant processing business of First Horizon Merchant Services Inc. (FHMS), a wholly owned subsidiary of First Tennessee Bank and a part of First Horizon National Corp.
NOVA Information Systems has appointed Roger K. Alexander to the position of chief executive officer of euroConex Technologies Ltd., NOVA's European affiliate. Alexander will be responsible for running the company's pan-European merchant acquiring business.
NOVA Information Systems (NOVA), a wholly owned subsidiary of U.S. Bancorp, has announced that its European affiliate, euroConex, has entered into a definitive agreement to acquire Citibank Card Acceptance (CCA), a major European card acquirer and a part of Citigroup, Inc.
US Bank reported second quarter financial results this morning that included growth in revenues from merchant processing of 20 percent for the quarter over the same quarter last year. Merchant processing revenues were $198 million for the quarter vs. $165 million last year.
Merchant processing services revenue was higher in the second quarter of 2005 than the same quarter of 2004 by $33 million (20.0 percent), reflecting an increase in sales volume, new business, higher equipment fees and the expansion of business in Europe.
NOVA Information Systems, the merchant acquiring subsidiary of US Bank, has announced an agreement to acquire Certegy's existing merchant acquiring portfolio consisting of 14,000 merchant locations representing about $3 billion in annual credit and debit card processing volume.
As part of the deal, NOVA has agreed to sell Certegy's regional check products and Certegy has agreed to provide NOVA with new merchant referrals through its sales representatives.
For 2004, NOVA processed about $119 billion in credit and debit card volume (according to the Nilson Report) from over 650,000 merchants.
Nova Information Systems has announced the availability of its dynamic currency conversion solution.
Dynamic Currency Conversion allows international cardholders in the U.S. the option to have their purchases instantly converted at checkout into their local currency. Currency conversion is calculated at a competitive exchange rate, and the U.S. dollar amount, conversion rate, and home currency amount are all printed on the receipt. Merchants, MSP's and other NOVA partners have the opportunity to share in the revenue generated from conversion fees.