New Business Strengthens Relationship and Fuels Global Growth
ATLANTA & MADRID--(BUSINESS WIRE)--Oct. 19, 2012--
Elavon, a leading global payments provider, and Banco Santander, an
international financial institution operating in 10 major markets with
more than 100 million clients serviced by 15,000 branches, today
announced the establishment of a joint venture relationship in Spain.
The transaction, subject to regulatory approval, establishes the
creation of a new entity, 51% of which will belong to Elavon and the
remaining 49% to Santander. The entity will assume responsibility for
Santander’s merchant customers in Spain and will be equipped with
specialized teams who, in collaboration with the branch network, will
provide service, support and solutions.
Customers will benefit from the powerful combination of Santander’s
trusted brand and Elavon’s award-winning International Processing
Platform and IP Gateway, recognized as the Best Merchant Acquiring
Initiative by the Cards & Payments Awards in 2012.
“This joint venture will enhance services and incorporate new
technologies for existing and future customers by providing a complete
portfolio of industry-leading payment solutions,” said Enrique Garcia
Candelas, Senior Executive Vice President of Commercial Banking,
Santander - Spain.
The new joint venture extends an existing relationship between Elavon
and Santander dating from 2003 when the companies launched foreign
currency payment services for Spanish retailers. It also further
strengthens alliance relationships between the two companies in the
United Kingdom, Poland, Mexico and Puerto Rico.
“Expanding our relationship with Santander in the Spanish market is a
fundamental part of our global expansion plans,” said Simon Haslam,
President, International Markets at Elavon. “Santander is an extremely
sound bank that people trust. This partnership solidifies our
relationship while providing value to businesses across Spain.”
About Elavon (www.elavon.com):
Elavon’s Global Acquiring Solutions organization provides end-to-end
payment processing services to over 1.2 million merchants in the US,
Europe, Canada, Mexico, Puerto Rico and Brazil. Elavon markets solutions
including credit and debit card processing, dynamic currency conversion,
multi-currency support, and cross-border acquiring through multiple
alliance channels and tailors services to meet the needs of customers in
small business, retail, hospitality/T&E, health care, education and the
public sector. European activities are conducted through Elavon
Financial Services Limited, an Irish registered bank headquartered in
Dublin, which is a wholly owned subsidiary within the U.S. Bancorp
(NYSE: USB) group of companies.
About U.S. Bancorp (www.usbank.com):
U.S. Bancorp (NYSE: USB), with $352 billion in assets as of Sept.
30, 2012, is the parent company of U.S. Bank, the 5th largest commercial
bank in the United States. The company operates 3,086 banking offices in
25 states and 5,080 ATMs and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. U.S. Bancorp and its
employees are dedicated to improving the communities they serve, for
which the company earned the 2011 Spirit of America Award, the highest
honor bestowed on a company by United Way.
About Banco Santander (SAN.MC, STD.N, BNC.LN): Banco Santander is
a retail and commercial bank, based in Spain, with a presence in 10 main
markets. Santander is the largest bank in the euro zone. Founded in
1857, Santander had EUR 1.418 trillion in managed funds, 102 million
customers, 14,569 branches – more than any other international bank –
and 187,000 employees at the close of June 2012. It is the largest
financial group in Spain and Latin America. Furthermore, it has
significant positions in the United Kingdom, Portugal, Germany, Poland
and the U.S. northeast. Santander Consumer Finance operates in the
Group’s core markets as well as in the Nordic region.
Elavon Media Relations
Holly Lytle, +1-678-731-5236
Patricia Colino Camara, +34 91 289 52 11
Ejecutivo de Comunicación Externa
Teri Charest, +1-612-303-0732