News

Elavon, Capital Bank ink exclusive payments processing deal

July 22, 2016

Elavon, a payments provider and subsidiary of U.S. Bancorp, and Capital Bank Financial Corp., a southeastern regional bank, have struck a multiyear payment processing agreement. According to a press release, the deal extends a relationship that dates to December 2005.

Under the agreement, Elavon will continue to serve as the exclusive payments technology provider for Capital Bank. The FI will offer a full lineup of Elavon technologies, including EMV chip technology, point-to-point encryption and tokenization.

In addition, Elavon will dedicate an exclusive sales team to support the payment needs of Capital Bank customers, the release said.