Elavon and Santander have launched a new alliance for merchant services in the UK. Reportedly, 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.
Elavon has claimed that the alliance will benefit Santander’s corporate and business customers, who, under the new agreement, will gain access to its 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.
Steve Pateman, head of corporate and commercial banking, Santander, said: “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.”
Stuart Harvey, JCEO of Elavon, said: “Elavon’s alliance model has been an integral part of our success in the US for almost 20 years, and we’re excited to leverage the reputation and reach of Santander as we expand in Europe.”
Elavon provides end-to-end payment processing services to merchants in the US, 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.
Banco Santander is a retail and commercial bank, based in Spain.
