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Elavon Inc. announced today it has acquired the merchant-processing portfolio of Capital City Bank. Atlanta-based Elavon will provide merchant services, including debit and credit card processing, point-of-sale devices and electronic check services, to Capital City's existing base of 2,200 merchants. Elavon has a "more robust product offering" for merchants, including gift card processing and e-commerce products unavailable at Capital City, says J. Kimbrough Davis, executive vice president of the Tallahassee, Fla.-based bank. Capital City will continue to offer traditional banking services, such as demand-deposit accounts, to merchants, he says. "We are still in the merchant business. We simply sold the processing piece of that business," says Davis. An Elavon spokesperson declined to disclose the value of the sale. Elavon is a subsidiary of U.S. Bancorp.

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