ATLANTA & LONDON--(BUSINESS WIRE)--Sep. 21, 2009--
Elavon and Santander today announce the launch of a new alliance for
merchant services in the UK. This alliance combines Elavon, a wholly
owned subsidiary of US Bancorp (NYSE: USB) and a leading global payments
provider, and Santander, one of the strongest and best capitalized banks
in the world.
Jointly, Elavon and Santander’s strategy is to become one of the leading
players in the UK acquiring market. The new alliance will enable
Santander to leverage Elavon’s end-to-end control of the processing
relationship; from risk and underwriting, to processing, funding and all
customer support functions, whilst Elavon will dramatically increase
their presence in the UK market by partnering with one of the most
respected and fastest growing institutions in the UK.
“Santander aims to become the best commercial bank in the UK. This new
alliance further enhances our portfolio of market leading current
account and money transmission services for new and existing customers
and demonstrates our commitment to supporting UK business during these
challenging times. Through the new Santander and Elavon alliance, UK
businesses can benefit from a comprehensive card processing system
tailored to their specific needs with the added benefits of dynamic
currency conversion and online account management,” said Steve Pateman,
Head of Corporate and Commercial Banking, Santander.
“Elavon’s alliance model has been an integral part of our success in the
United States for almost 20 years, and we’re excited to leverage the
reputation and reach of Santander as we expand in Europe,” said Stuart
C. Harvey, Jr., CEO of Elavon.
The alliance will benefit Santander’s corporate and business customers,
who, under the new agreement, will gain access to Elavon’s robust and
secure international processing platform, which features cross border
and multi-currency processing, eliminating the need for pan-European
clients to contract with multiple processors, while providing one point
of service for all processing and customer support.
Elavon’s Global Acquiring Solutions organization is a part of U.S.
Bancorp. Elavon provides end-to-end payment processing services to more
than one million merchants in the United States, Europe, Canada and
Puerto Rico. Solutions include credit and debit card processing,
electronic check services, gift cards, dynamic currency conversion,
multi-currency support, and cross-border acquiring. Elavon’s services
are marketed through multiple alliance partner channels including
financial institutions, trade associations and ISOs. Elavon has
solutions to meet the needs of merchants in specialized markets
including small business, retail, hospitality/T&E, health care,
education and the public sector. Elavon represents the former brands of
NOVA Information Systems and its affiliates FHMS and euroConex. Visit
Elavon on the web at www.elavon.com.
About U.S. Bancorp
U.S. Bancorp, with $266 billion in assets, is the parent company of U.S.
Bank, the 6th largest commercial bank in the United States. U.S. Bank
was recognized by Euromoney magazine in July 2009 as the “Best
Bank in the United States.” The company operates 2,850 retail banking
offices and 5,173 ATMs, and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. In addition to its
North American business, U.S. Bancorp provides payment services
internationally through Elavon. Visit U.S. Bancorp on the web at www.usbank.com.
About Banco Santander (SAN.MC, STD.N) is a retail and commercial
bank, based in Spain. At the end of 2008, Santander was the largest bank
in the euro zone by market capitalization and third in the world by
profit. Founded in 1857, Santander had EUR 1,168 billion in managed
funds at the end of 2008. Following the acquisition of Sovereign Bancorp
of the U.S. in January 2009, Santander has 90 million customers, more
than 14,000 branches – more than any other international bank – and
170,000 employees. It is the largest financial group in Spain and Latin
America, with leading positions in the United Kingdom and Portugal and a
broad presence in Europe through its Santander Consumer Finance arm. For
more information visit www.santander.com.
In the UK, Santander Corporate Banking was established June 2009. The
corporate banking division supports businesses with a turnover over £1
million via the bank’s 20 regional corporate banking centres, which are
located around the UK.
In the UK, Santander operates three brands which provide services to
businesses, Abbey Business Banking, Alliance & Leicester Business
Banking and Santander Corporate Banking.
Elavon Media Relations
Holly Lytle, +1.678.731.5236
Bank Media Relations
Teri Charest, +1.612.303.0732
Cards Media Relations
Robert Buller, +44 (0)203 130 4560