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Santander Group: Agrees to acquire merchant services company Elavon México | Fintech InShorts: Latest fintech news, analysis by experts

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Santander Group: Agrees to acquire merchant services company Elavon México

By Laura M

February 25, 2020

Santander Group: Agrees to acquire merchant services company Elavon México

The Group’s aim is to provide superior acquiring and also payment services to merchants
Santander Group today announced an agreement to acquire merchant payment solutions company Elavon México
Santander Group will also acquire all of the shares in Elavon México for MXN 1,600 million
The company will 49% owned by Santander Mexico and also 51% by Santander Merchant Platform Solutions (SMPS)
With this agreement, Mexico becomes the first country in which Santander has acquired a business to accelerate this strategy
The Group’s aim is to provide superior acquiring and payment services to merchants

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