Elavon, a global payment solutions provider, is entering into a partnership with Banco Santander, to form a merchant services joint venture in Spain (view press release). The new entity, subject to regulatory approval, will assume responsibility for Santander’s merchant customers in Spain which will be equipped with specialised teams to provide service, support and solutions, in collaboration with the branch network.

This is an extension of the existing relationship between the two firms, dating back to 2003, when they launched a foreign currency payment services for Spanish retailers.