The bank has over 130,000 customers in this sector and a business volume of €12.5 billion.
Its customers in this sector are largely micro SMEs and self-employed persons who frequently use digital channels.
Madrid, 7 June 2021 – PRESS RELEASE
Santander has provided more than €1 billion of financing for the hospitality and catering sector in the first five months of this year. The bank's agility when it comes to meeting the financing needs of hoteliers and caterers has been key in enabling many entrepreneurs to continue operating in a sector that has been hit hard by the crisis unleashed by the pandemic.
Of the bank's 130,000 customers in this sector, 68% of the caterers are self-employed while micro SMEs account for 60% of hoteliers. This clientele is around 60% digitalised and represents a business volume of €12.5 billion. In 2019, Santander created a specific unit to meet the needs of the hotel sector and to support these entrepreneurs and self-employed persons at a particularly difficult time for them
The most sought after products by these customers are financing products such as the Multi-product Companies Policy, Leasing and the Short-Term Credit Policy, and POS terminals.
Particularly noteworthy are the virtual POS, which now includes Bizum and Paygold, with which it is possible to make bookings or take remote payments via SMS, WhatsApp or e-mail, with no need for a website or a physical POS.
Recently, the bank launched Santander One Empresas and One Digital, the new specialised internet platform that allows customers to carry out online transfers throughout the European Union and other countries that accept euros (SEPA), access Bizum's services and currency trading and other services to digitalise the self-employed, micro-enterprises and SMEs. They can also access an exclusive service for Santander customers via One Telefónica to create and foster the development of their online business.
Likewise, Santander ZOne is a platform that helps companies and businesses to connect with a market of more than five million potential consumers which offers discounts, experiences and exclusive benefits to customers via the app and online banking.
With a market share of 25% for SMEs, Santander is the leading bank in this segment, which reflects its purpose of helping people and businesses prosper.