Bank of the West Extends Merchant Processing Contract With Nova Corporation for Seven Additional Years.( BW)(GA-NOVA)(NIS Niš or Nish (both: nēsh), city (1991 pop. 175,391), SE Serbia, on the Nišava River. An important railway and industrial center, it has industries that manufacture textiles, electronics, spirits, and locomotives. ) Bank of the West Extends Merchant Processing Contract With Nova Corporation for Seven Additional Years Business Editors ATLANTA--(BUSINESS WIRE)--Feb. 16, 2000 Deal solidifies long-term relationship between NOVA and Bank of the West to process credit card transactions for the bank's more than 5,500 customers NOVA Corporation (NYSE NYSE See: New York Stock Exchange : NIS) today announced that Bank of the West (NYSE: BWE BWE Best Week Ever (TV show) BWE Bundesverband Windenergie eV (German Wind Energy Association) BWE Ballast Water Exchange BWE Braunschweig Germany (airport code) ) has renewed its marketing alliance with NOVA for seven additional years. The alliance provides Bank of the West with individualized in·di·vid·u·al·ize tr.v. in·di·vid·u·al·ized, in·di·vid·u·al·iz·ing, in·di·vid·u·al·iz·es 1. To give individuality to. 2. To consider or treat individually; particularize. 3. attention and customized services for each of its business customers. NOVA will provide merchant services Merchant services is the name given in the United States to a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to the service that enables a business to accept a transaction payment by use of the customer's credit or and support to the bank on both a local and national basis. NOVA is the third-largest transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. company in the nation. Bank of the West, a subsidiary of $16.7 billion BancWest Corp., is California's fourth-largest bank with operations extending to Washington, Oregon, Nevada and Idaho. &uot;Due to NOVA's strong commitment to service and dedication to enhancing its product offerings the last six years, we have decided to move forward by continuing to grow with NOVA in a long-term relationship,&uot; said Frank Bonetto, Bank of the West senior executive vice president. &uot;Our seven-year commitment with NOVA means we will be able to deliver the best possible value and service to our customer base.&uot; &uot;NOVA is the market leader in providing electronic payment processing to small- and medium-sized merchants,&uot; said Edward Grzedzinski, NOVA chairman and chief executive officer. &uot;A key driver of the growth of our business is the company's commitment to partnering with financial institutions. We have had a mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" relationship for six years with Bank of the West, providing transaction-processing services exclusively to the bank's customers.&uot; About NOVA Corporation NOVA Corporation, headquartered in Atlanta, GA, manages and transports payment and other business information on behalf of retailers, community banks and regional financial institutions. NOVA specializes in providing integrated credit and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. payment processing services, related software application products, and value-added services to more than 500,000 merchants in the U.S. NOVA merchant customers typically include small- to medium-sized merchants requiring a full spectrum of processing services. For more information, visit www.novacorp.net. About Bank of the West Bank of the West was founded in 1874 and is California's fourth-largest bank. Its headquarters is in San Francisco. It operates 162 branches - 118 in Northern and Central California, 30 in Oregon, nine in Washington state, three in Idaho and two in Nevada. For more information on Bank of the West, please visit www.bankofthewest.com. |
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