Banco Santander’s payments fintech is driving the expansion in Europe of Getnet, which operates in Brazil, Mexico, Chile, Argentina and soon in Uruguay. Getnet has the third highest customer base and turnover among merchant payment firms in Latin America.
In Europe, Getnet will serve customers in some 30 countries, with its main offices in Madrid and Munich.
Madrid, 26 July 2021 - PRESS RELEASE
Banco Santander’s payment fintech, PagoNxt, announced today that its merchant payments business is launching in Europe under the Getnet brand. Foreign and domestic merchants of all sizes in some 30 countries, whether or not they are customers of Banco Santander, can now use Getnet’s wide range of secure, reliable and straightforward payment solutions for easier and quicker sales.
Getnet, which has strong business in Spain and Portugal, will now expand to other countries. Getnet's services focus on a value proposition for large e-commerce retailers that will gradually expand to include over-the-counter and other types of payments. Over the coming months, its own sales teams and Banco Santander’s network will distribute its products and services, which will cover the needs of all merchant segments in Europe. Getnet Europe has operational headquarters and technology hubs in Munich, Madrid, Dubai and Chennai, India.
Getnet, which has 1.1 million clients, processed €90 billion in some four billion payments in 2020. It already boasts the third highest customer base and turnover among Latin American merchant payment firms. It is active in Brazil (where it is an e-commerce leader), Mexico, Chile, Argentina and soon in Uruguay. The purchase of Wirecard's assets earlier this year has allowed PagoNxt to bring forward its plans and launch Getnet in Europe on a vastly accelerated timetable.
Javier San Félix, chief operations officer at PagoNxt, said: “The global roll out of Getnet is ahead of plan and will allow us to offer the best possible services to our customers. Our goal is to help customers across Europe and the Americas to grow their business by making payments easier and more secure, using the best technologies available.”
Getnet has over 2,300 employees worldwide. Around 600 are in Europe, where it is looking to increase its headcount by 20% to further its ambitious growth strategy (more info at: www.getneteurope.com). Furthermore, Santander Brazil has approved the spin-off of Getnet Brazil. Subject to the necessary regulatory approvals, the incorporation of Getnet Brazil into PagoNxt is expected before the end of the year.
Getnet is part of PagoNxt, a fintech that brings together all of Santander’s most innovative and disruptive payments businesses. It will build on Santander’s scale, 150 million clients (including four SMEs) and 60 million active cards to leverage the significant growth in payments, with digital transactions expected to double between 2020 and 2025, up to USD 10.5 trillion. Santander is one of the first banks in the world to undertake an initiative of such ambition, scale and nature.
PagoNxt brings together the most disruptive payment businesses from Banco Santander. It focuses on three core specialisms: Merchant Solutions for businesses, Trade Solutions for corporates and SMEs, and Consumer Solutions for digital personal finance products. While it’s part of Banco Santander, boasting more than 160 years of banking experience and 149 million customers worldwide, PagoNxt is an autonomous company, working as a fintech to deliver solutions fast to the digital payments market. Headquartered in Madrid with a presence in 14 countries and a team of 1,700 payment experts and developers worldwide, with an extra 1,200 external developers, PagoNxt delivers its value proposition to more than 1.1 million merchants and 300,000 international SME’s and corporates worldwide, and over 600.000 consumers. PagoNxt comprises Getnet, OneTrade, The Payments Hub, Ebury, Mercury TFS, Superdigital and others.
Getnet, a PagoNxt company, is a global acquiring franchise developed to create opportunities for merchants worldwide. It improves the simplicity, speed and safety of payments for merchants across gateway, risk management, processing, schemes connectivity and issuers services. Getnet offers merchants access to multi-channel, multi-method, multi-country payments, always under best anti-fraud standards. In 2020, it had more than 1.1 million clients, processed €90 billion in some four billion payments. Getnet has the third highest customer base and turnover among Latin American merchant payment firms. Active in Brazil (as an e-commerce leader), Mexico, Chile, Argentina and soon in Uruguay. Getnet Europe has operational headquarters and technology hubs in Munich, Madrid, Dubai and Chennai, India. It has over 2,300 employees worldwide.
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 the Europe, North America and South America regions, 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 first quarter of 2021, Banco Santander had €1.1 trillion in total funds, 149 million customers, of which 23.4 million are loyal and 44.2 million are digital, 10,800 branches and 190,000 employees.