Elavon, a leading global card acquirer, has extended its joint venture agreement with Cleveland-based KeyCorp (NYSE: KEY) for KeyBank’s merchant referral business. KeyBank markets Elavon’s merchant processing services to business customers through 21 geographic districts spanning across a 13-state network of almost 1,000 commercial office and retail branch locations. The agreement extends an over 10-year relationship between Elavon and KeyCorp.
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The extended agreement allows for KeyBank to continue offering white-labeled merchant services backed by a company solely dedicated to the payments industry. Elavon’s entire, robust solutions offerings are available to KeyBank merchants, from credit and debit processing to Dynamic Currency Conversion, Electronic Check, Gift Card, professional services and free online reporting.
An added benefit to KeyBank merchants is enrollment in Elavon’s PCI Compliance Program, a comprehensive approach to assisting merchants meet compliance requirements that includes education, validation, scanning services and financial protection of up to $100,000 in the event of a data breach.
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