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Santander Group buys Elavon Mexico

Tuesday 25 February 2020 11:08 CET | News

Santander Group has signed a deal to buy Elavon Mexico, a merchant acquirer, for USD 86 million from U.S. Bancorp.

According to MobilePaymentsToday.com, Santander said the deal is part of a strategy it announced in 2019 to accelerate growth in global payments, including the creation of a global merchant acquiring business.

Elavon Mexico operates as part of a strategic partnership with Banco Sandander Mexico. The alliance ranks second in the Mexican merchant services market, with 140,000 active customers and 250,000 card payment terminals. 

The agreement would allow Santander to operate the business holistically and allow Elavon to focus investments in higher growth opportunities in the US, Canada and Europe. 


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Keywords: Santander Group, Elavon Mexico, merchants, payments
Categories: Payments & Commerce
Companies:
Countries: Mexico
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Payments & Commerce






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