Unicaja splits from UniversalPay and retains Liberbank’s payments business

Unicaja has split from UniversalPay, the Spanish subsidiary of American Evo Payments. and 100% of its payments business with Liberbank. The Andalusian bank added a provision of 7m euros to its third-quarter accounts for the costs of breaking the deal, which both companies have had since 2018.

Four years ago, Liberbank left its purchasing business, which includes payments with cards and point-of-sale terminals (POS), into the hands of Evo Payments. The Spaniard sold him his POS business for 7.86 million Euros and then they signed. ten-year alliance for the provider to deal with the offer Payment services to merchants in Spain, current customers and future merchants.

But after the merger of Unicaja and Liberbank, where the first absorbed the second, the side headed by Manuel Azuaga decided. end this alliance and pay compensation, As in the insurance industry With Mapfre and Aegon.

Unicaja chose to maintain its agreement with Santalucía and comply with regulations that prevent the same branch from having multiple bancassurance agreements with different insurers in a single network. Compensated Mapfre with 131 million and Aegon with 176 million break their agreement.

Along the same lines, Unicaja has included it in the “other provisions” section of the third quarter accounts. 7 million donations euros to end the deal with Evo Payments for the acquisition, as explained by the bank’s executives in its presentation to analysts.

It became clear during the summer that UniversalPay wanted to extend its deal with Liberbank, while also getting the deal with Unicaja, which manages it alone. in advanced ExpansionHe worked “intensely” to reach the 2.7 million customers of the Andalusian bank. continue without partner.

Evo Payments has similar alliances with various European organizations such as: Deutsche Bank or Bank of Ireland. In Spain, through its subsidiary UniversalPay, popular bankA business that Santander later took over and brought him a lot of trouble.

The deal between Popular and Evo Payments was similar to Liberbank’s, involving a ten-year alliance in which the bank referred its commercial customers exclusively to the UniversalPay joint venture.

When it acquired Santander Popular, UniversalPay considered it in violation of Article 6 of the ‘marketing alliance agreement’ (MAA) that the bank of Cantabria had with Popular, which established certain exclusivity, non-compete and customer reference obligations.

UniversalPay and Santander to stand trial in November

Well, Santander didn’t put an end to this alliance and worked with his own acquisition business through Getnet. That’s why the Evo Payments subsidiary 1,050 million lawsuits filed Euro to Banco Santander. The preliminary hearing was held in March, and the trial begins this November.

Payment businesses are getting a lot of attention from such companies, due to the boom in card payments that are booming in Spain. in 2021 35% increased compared to 2019According to data from the Bank of Spain.

In fact, Banc Sabadell is currently working on several proposals to bring a partner to the payments business. Value ranging from 350 to 400 million euros. In addition to UniversalPay, other competing companies are known to be interested. Worldline, Nexi and Fiserv. The bank wants to close an alliance before the end of the year.

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