Credicard, a wholly-owned subsidiary of Citigroup Inc., has signed a binding agreement with Elavon, a wholly-owned subsidiary of U.S. Bancorp and leading global payments provider, for the establishment of a joint venture which will be a merchant services company offering payment solutions to the Brazilian marketplace.
Combined with Credicard’s market expertise and brand recognition, Elavon will deliver a robust processing platform, financial efficiency, innovative payment solutions and secure point-of-sale devices for mobile acceptance environments.
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