ALCB and NOVA in sale agreement

NOVA Information Systems and Alliance & Leicester Commercial Bank (ALCB), a subsidiary of Alliance & Leicester plc, have signed an agreement for the sale of ALCB’s credit card merchant acquiring business to an affiliate of NOVA.

Dublin-based EuroConex Technologies, another affiliate of NOVA, will manage the processing services for all new and existing Alliance & Leicester merchant customers.

“EuroConex is a true partner to financial institutions,” said EuroConex chief executive officer Billy Saunderson.

“We can seamlessly manage the transition of a merchant processing portfolio.

“Alliance & Leicester’s merchant customers will continue to benefit from advanced processing services, and will have access to a full portfolio of solutions fitting the needs of a variety of vertical markets.”