Joint Venture will operate under the name Popular Payments
MADRID and NEW YORK, Nov. 4, 2013 /CNW/ - EVO Payments International, LLC ("EVO"), a leading payments service provider, announced today that it has completed its acquisition of a controlling interest in Banco Popular's merchant acquiring business in Spain. Banco Popular's merchant acquiring business will now operate under the name Popular Payments. The acquisition also includes a ten year marketing alliance in which the Bank will exclusively refer its merchant customers to the joint venture for merchant acquiring services.
"In a continued effort to expand our global scale and reach, we are excited to announce the completion of our second European financial institution partnership," said James G. Kelly, CEO of EVO. "We are very excited to begin this new relationship with Banco Popular, one of Spain's leading financial institutions. We look forward to providing innovative products and services to the Bank's existing and future merchant customers in Spain."
Banco Popular's General Manager, José Ramón Alonso, said, "This arrangement is in line with our strategic objective of establishing long-term alliances with premier global companies, and we look forward to leveraging EVO's expertise and economies of scale. The goal of both organizations is to provide leading edge products and services via the Bank's extensive branch network in Spain."
About Banco Popular
Banco Popular, with more than 8 million clients worldwide, is the fifth largest banking group in Spain in terms of asset and client deposits (€161.1 billion). It is also one of the largest banks in Europe with retail and commercial banking status. Retail banking represents 82% of the Bank's pre-provisioning profit with corporates, SMEs and independent professionals accounting for 77%. With over 16,000 employees, the Bank operates more than 2,000 branches in Spain and around 250 branches abroad.
About EVO Payments International
EVO Payments International is a leading payments processor and acquirer for merchants, independent sales organizations (ISOs), financial institutions, government organizations, and multinational corporations located throughout the United States, Canada, and Europe. EVO offers an industry-leading array of secure, innovative products and solutions that support the growth of its highly valued customers. EVO operates as a principal member of Visa and MasterCard outside of North America. Visit www.evopayments.com for more information about the company and its services.
SOURCE: EVO Payments International
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