US Bancorp

A global payments provider Elavon, wholly owned by US Bancorp, has partnered with China UnionPay to enable merchants of Elavon accept UnionPay’s debit and credit card payments in Canada with the plans to further expand into Latin America.

The partnership bases Elavon’s secure, world class international processing platform to provide merchants with the benefit of a single point of service for processing, funding, settlement and reporting for all Visa®, MasterCard®, American Express®, Discover® Network and UnionPay transactions.

As it became known, Wells Fargo has become the latest banks to affirm its participation in trials of NFC-enabled mobile payments technology in association with Visa.

Wells Fargo probe appeared to be a part of a major push by Visa to have a commercially-viable product ready for launch in 2011.