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As members of the payments industry focus on containing costs and managing risks during a worldwide economic malaise, many still are considering possibilities for future expansion into markets less saturated by credit and debit card services. Elavon Inc., owned by Minneapolis-based U.S. Bancorp, currently offers processing and merchant-acquiring services in the United States and parts of Europe. But Elavon is interested in moving beyond those markets, CEO Stuart C. Harvey Jr. tells CardLine Global sister publication Cards&Payments. "Southeast Asia would be a logical extension of our footprint. Some of the growth dynamics and economics of that region of the world would be extremely appealing to us," Harvey says. "We wouldn't go in alone, but when we find the right bank or financial institution to partner with, that really facilitates the ease of entry into new markets."
