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.