EVO buys controlling interest in Banco Popular Spanish merchant acquiring business

Source: EVO Payments International

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." 

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