Digital Transactions Authoritative, insightful and timely information for payments professionals
Nova Information Systems says it is acquiring Certegy Inc.'s the merchant portfolio. Terms of the deal were not disclosed. The conversion of the Certegy portfolio, which consists of 14,000 merchants generating about $3 billion in annual credit and debit card volume, to Nova's platform is expected to be completed by year's end, Nova says. In a joint marketing arrangement, Nova will sell Certegy's regional check products while Certegy's sales force will send new-merchant referrals to Nova. Certegy, a processor based in St. Petersburg, Fla., sells check-verification and card-issuance services. Atlanta-based Nova, a subsidiary of U.S Bancorp, processes card transactions and e-checks for more than 850,000 merchants in the U.S., Canada, and Europe.
