The deal has successfully been completed.
With these assets, Santander will expand its merchant payments business at a pan-European level and will be able to offer a more complete and better value proposition to more companies and multinationals leveraging the Getnet franchise further across Europe and the Americas.
Madrid, 28 January 2021.
Banco Santander announced today the completion of the acquisition of several highly specialised technological assets from the merchant payments business of Wirecard in Europe. This transaction was announced in November 2020 and is part of Santander's strategy to reinforce and accelerate its growth plans in the merchant payments business, Getnet, for the region. Getnet is a part of PagoNxt, a new autonomous business created by Banco Santander to bring its most disruptive payments businesses together to compete with global digital payments platforms.
With these assets, Santander will expand its merchant payments business at a pan-European level and will be able to offer a more complete and better value proposition to more companies and multinationals leveraging the Getnet global franchise across Europe and the Americas.
Almost all 500 employees who were managing the acquired assets, in highly qualified teams, have already joint Getnet. They will remain in their current locations.
Javier San Félix, chief operating officer at PagoNxt, said: “With the acquisition of Wirecard assets, we are accelerating greatly the deployment of Getnet in Europe and globally, with a better value proposition for companies and multinationals. Getnet is already the third largest acquirer in Latin America.”
The acquisition will accelerate Getnet’s expansion across Europe, bringing enhanced capabilities in e-commerce and multinational merchant servicing as well as other payment services. The assets Santander has acquired extend its global open payments platform architecture, while creating synergies between trade and payments as well. Santander is taking its merchant platform to other countries, as it has already done in Latin America. The acquired assets include payment solutions for merchants, and acquiring and issuance services.
Last October, Santander announced plans to bring together its most disruptive payments businesses, including Getnet, within PagoNxt, which will focus on accelerating growth in three business areas: merchant solutions; trade solutions for SMEs which operate internationally and want services once only accessible to larger corporates; and consumer digital products and services, such as Superdigital, the inclusive-finance proposition already available in five Latin American markets.
More information at www.getneteurope.com
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of the third quarter of 2020, Banco Santander had more than a trillion euros in total funds, 147 million customers, of which 22 million are loyal and 41 million are digital, 11,500 branches and 193,000 employees.