Elavon, Santander to Offer Merchant Services in Spain
April 15, 2013
Atlanta-based processor and acquirer Elavon on Friday announced a joint venture with Spanish financial institution Banco Santander to offer merchant services in Spain. Elavon, a subsidiary of U.S. Bancorp, will own 51 percent of the new venture—dubbed Santander Elavon Merchant Services—with Santander controlling the remaining 49 percent. The companies said the JV will trade on Santander’s strong brand in Spain and Elavon’s payment processing and gateway technology.
“Santander Elavon Merchant Services will deliver great benefits to business customers of all sizes across Spain, and [Santander’s] ability to deliver on this opportunity is proven in the marketplace,” said Simon Haslam, president of International Markets for Elavon. “From providing global accounts with a single source provider across their portfolio, to addressing the needs of small business customers, this JV leverages the best that both Santander and Elavon offer.”