Elavon Acquires Citizens National Bank Merchant Processing Portfolio
Elavon, a global payments provider and subsidiary of US Bancorp, has purchased the merchant processing portfolio of Citizens National Bank, a community bank headquartered in Tennessee.
Under the terms of the agreement, Elavon will extend its full line of payment solutions to the bank’s more than 300 existing merchant accounts, while also supporting a 10-year alliance agreement for new merchant services referred through the bank’s 18 community branches.
“Our customers depend on us to provide reliable, innovative service and a full line of solutions,” said David Verble, president and chief executive officer (CEO) of Citizens National Bank. “Elavon is solely focused on merchant services, and our new relationship enables us to provide our customers with the level of service and security they need and expect.”
Citizens National Bank merchant customers will benefit from Elavon’s expanded merchant service offerings including debit and credit card processing, a comprehensive PCI Compliance Programme, a choice of point-of-sale (POS) devices and software, advanced e-commerce products, electronic cheque services, and enhanced reporting.