Elavon, a payments subsidiary of US Bancorp, has extended its relationship with Santander through the establishment of a joint alliance in Mexico.
The alliance establishes a new foothold for Elavon in a burgeoning credit card market and capitalises on an existing relationship with Santander in Spain, the UK and Puerto Rico.
Under the terms of the marketing alliance, acquiring services will be offered to existing and prospective Santander merchants.
“Santander has always offered acquiring services as a valuable product to our clients,” said Marcos Martínez Gavica, executive president of Santander-Mexico. “However, we believe that we can better respond to the needs of the payments industry and our customers by transitioning the business to an alliance solely dedicated to acquiring.”
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