Union Planters Corporation forms alliance with NOVA

NOVA Information Systems an-nounced Jan. 15 an alliance with Union Planters Corporation the parent of Union Planters Bank to provide payment-processing services to the bank's more than 12,000 merchant customers in 12 states.

NOVA, which is the country's third largest merchant payment processor, will immediately begin implementation of its merchant-processing contract, valued at $1.7 billion in charge volume, with Memphis-based Union Planters.

"Our alliance with NOVA will mean greater service and convenience to our merchant customers," said Bobby L. Doxey, senior executive vice president and chief financial officer of Union Planters, in a press release.

"We expect our customers to benefit from a broader range of merchant products and services," he added.

Within the year, Union Planters plans to expand the alliance to include additional NOVA products and services.

Founded in 1869, Union Planters Cor-porationis a multistate bank holding company offering banking, investment, mortgage and insurance services to more than 2 million individuals and businesses. As of June 30, 2001, Union Planters was the 28th largest bank holding company in the nation based on total assets.

Atlanta-based NOVA Information Sys-tems manages and transports payment and other business information on behalf of retailers, community banks and re-gional financial institutions.