The spin-off is part of Santander’s plans to create a global merchant acquiring franchise under the Getnet brand.
Madrid, 5 October 2021 - PRESS RELEASE
Santander announced today that its leading merchant payment business, Getnet Brazil, is expected to begin trading on the B3 stock exchange in Sao Paulo on October 18, then on the Nasdaq stock exchange in New York on October 22 on a “regular way” basis.
The spin-off of Getnet Brazil, which was a wholly owned subsidiary of Santander Brazil, is part of Santander Group’s plans to create a global merchant acquiring franchise under the Getnet brand as part of PagoNxt - a technology-focused global payment fintech fully owned by Santander to integrate the bank’s most innovative and disruptive payments franchises.
Creating a global franchise for Getnet Brazil will offer several benefits to its shareholders, enabling Getnet Brazil to realize the full potential of its business within a global structure and platform, bringing more efficiency, diversification of revenue sources, speed of execution and integration with the other payment businesses within the Santander Group.
Javier San Felix, CEO of PagoNxt, said: “Payments lie at the heart of our relationships with customers and is a segment that is growing rapidly. Getnet is an outstanding franchise and has gained significant market share in Brasil in the last five years. By bringing Getnet Brazil together with our global payments businesses, we can leverage the group’s scale, further improving the services we offer to customers and creating value for shareholders.”
Pedro Coutinho, CEO of Getnet Brazil, said: "This strategic step will enable Getnet Brazil to unlock the full potential of its businesses as part of PagoNxt. Getnet Brazil will be part of a global platform, where we will leverage key capabilities, products, value added services and state-of-the-art platform technology and architecture.”
Getnet Brazil is already the number three acquirer and number one in ecommerce in the country, having doubled its market share in the past five years. Santander’s ambition is to expand the Getnet franchise to cover the main geographies in Latin America and Europe in the short term, as well as in the US and UK markets. The Getnet franchise has more than 1.2 million merchants in Brazil, Mexico, Argentina, Chile, Uruguay and Europe, where it was launched based on the recently acquired Wirecard infrastructure to offer services in 30 countries.
Further information regarding the listing of Getnet Brazil is available here.
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. It has more than 1.2 million clients and, in 2020, 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, Uruguay and Europe. It has over 2,300 employees worldwide.
PagoNxt brings together the most disruptive payment businesses from Banco Santander. It focuses on three core verticals: 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 150 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 1,850 payment experts and developers worldwide, with an extra 1,200 external developers, PagoNxt delivers its value proposition to more than 1.2 million merchants and 300,000 international SME’s and corporates worldwide, and over 700.000 consumers. PagoNxt comprises Getnet, OneTrade, Payments Hub, Ebury, Mercury TFS, Superdigital.
Special Notice Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, that reflect the current expectations of the management of Santander, Santander Brazil, Getnet and Getnet Brazil. These statements include, but are not limited to, statements about the completion of the spin-off, timing of “when-issued” and “regular-way” trading on the NASDAQ, trading on B3 and other non-historical matters. These statements are based on management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause the actual results to differ materially from those indicated in our forward looking statements.