Elavon, a leading global payments provider and subsidiary of U.S. Bancorp (USB: NYSE), and Capital Bank Financial Corp. (NASDAQ: CBF), a leading southeastern regional bank, have signed an expanded multi-year agreement for payment processing that enhances a relationship that began in December 2005.

Capital Bank will continue to use Elavon’s innovative payments technology exclusively. The new agreement forms a relationship in which the companies also will share ideas and strategies to ensure the bank’s valued business customers of all sizes receive secure, industry-leading payments technology and services.

Capital Bank will offer its business customers Elavon’s full lineup of payments processing technology, created and supported by The Grove, Elavon’s global innovation center in Atlanta. These products offer EMV (Europay, MasterCard and Visa) chip technology, Point-to-Point Encryption (P2PE) and tokenization technology for multi-layered payments security for point-of-sale terminal and card-not-present processing.

“We have carefully studied the competitive landscape and are impressed with Elavon’s payments solutions,” said Zahid Afzal, Capital Bank’s chief technology and operations executive. “Having the best processing technology and security, at the right price points, is especially critical as consumers’ payment preferences evolve. This strategic partnership underscores our commitment to providing long-term value and innovative products to our merchant customers.”

In addition, Elavon will dedicate an exclusive sales team and leader to the market and support the payment needs for Capital Bank customers.

“Working with Capital Bank through their transformation and rapid growth has been tremendous for Elavon,” said Guy Harris, president of North America at Elavon. “This exclusive agreement takes our relationship to an exciting new level that will enable Capital Bank’s valued business customers to manage payments simply and securely.”