Stuart Harvey Jr., CEO of Atlanta-based Elavon Inc., is leaving the payment processor next month, Elavon says. Mike Passilla, Elavon executive vice president for global business development, will replace Harvey on Aug. 16 as president and CEO.
Harvey, who joined Elavon in 2003, will become CEO of Ceridian Corp., a Minneapolis-based human resources firm.
Harvey’s move does not signal a grand change for Elavon, a wholly owned unit of Minneapolis-based U.S. Bancorp, Passilla tells ISO&Agent Weekly.
“Part of my goal ... is to build on the momentum that we have collectively created over the last five years,” Passilla says.
International growth is a part of that, he says. Elavon globally serves more than 1 million merchants.
Earlier this year, Elavon said it was in exclusive talks with the State Bank of India for a merchant acquiring joint venture with Visa Inc. in India. And in Mexico, Banco Santander SA is offering Elavon’s merchant acquiring services to merchants there.
“We will continue to expand into other areas of Latin America,” Passilla says.
Elavon also is eyeing expansion in Southeast Asia, he notes.
Passilla says his background in business development, sales and marketing will be valuable in expanding into other nations and into new markets.
“Our entire strategy is only to go in hand-in-hand with established partners,” he says. Elavon is well positioned for growth because of its employees, distribution channels and the backing of its parent company, Passilla says.
Elavon’s single processing platform, which handles more than 2 billion annual transactions, is another strength, he says.
