Elavon and Santander Partner to Supply Merchant Services in the UK
Elavon and Santander have launched an alliance for merchant services in the UK. This partnership combines payments provider Elavon, a wholly-owned subsidiary of US Bancorp, and Santander, the best capitalised bank in the eurozone.
Jointly, Elavon and Santander’s strategy is to become a leading player in the UK acquiring market. The 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; while Elavon will dramatically increase its presence in the UK market.
“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.
The alliance will benefit Santander’s corporate and business customers, who 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.