Nova, a provider of payment processing software, acquired SouthTrust’s merchant processing accounts and will offer processing services, customer service and support operations to SouthTrust’s existing 16,000 merchants. New merchant services referrals will be marketed through Wachovia Bank’s branches.
The credit and debit card processing volume from the existing SouthTrust portfolio is expected to generate an additional $2.3bn annually.
Terry Terbrueggen, senior vice president, Wachovia Bank, said: Nova’s robust product portfolio and powerful network infrastructure allow SouthTrust’s merchant customers to take advantage of enhanced service levels and new value-added applications.
