Born in 2003, this year marks the tenth anniversary of Santander’s acquisition of Getnet. It is part of our global payments business, PagoNxt, and has helped merchants grow by making it possible for them accept payments securely, while providing a better and faster checkout experience to customers.

Digital payments have become a foundation of economic activity, financial inclusion and business growth across Latin America over the past decade.

It is an increasingly complex and competitive market and Getnet, Santander’s merchant payments business, is driving innovation to support a broad range of customers from small entrepreneurs to large corporations. 

Back in 2014, digital payments typically referred to using debit and credit cards to shop. Nowadays, there is widespread use of mobile payments both online and in store while adoption of alternative payment methods (APMs) is also on the rise.

As payments has evolved, so has Getnet’s product offering and technological solutions. The company has leveraged digital innovations to improve payments for merchants so they can grow and operate efficiently in the ever-changing landscape. 

Today, Getnet’s infrastructure allows merchants to offer a range of payment solutions such as cards, APMs, direct debits and e-wallets. These checkout options can be customized and also include multiple options for integration and ways to simplify payment card industry (PCI) compliance and maintain a secure digital environment.

In the last 10 years Getnet has invested heavily in technology, enhancing its payment platform to support a broader range of services, including e-commerce, mobile payments and integrated point-of-sale solutions.  It also diversified its product portfolio to include solutions such as fraud prevention tools, as well as value-added services like customer analytics and loyalty programmes.  

From its creation in Brazil, Getnet has expanded to Mexico, Argentina, Uruguay and Chile in Latin America and Spain and Portugal in Europe. This was driven in part by the scalable and flexible nature of Getnet’s cloud-based technology which in recent years has improved its speed, security and performance to enhance the customer experience.

The movement towards digital payments was undoubtedly accelerated by the covid-19 pandemic. Unable to visit bricks-and-mortar stores due to lockdowns, consumers relied on e-commerce like never before. 

It was crucial for merchants to adapt quickly and implement digital payment systems to survive during this time. 

To help businesses digitise and offer the best online payment experience possible, Getnet launched several new solutions to sell online, to launch a digital store or to sell through social media.

Over the past decade, Getnet has also been part of Santander’s wider moves to help Latin America’s large population of unbanked people access financial services.  In 2023 alone the bank helped 1.8 million people gain access to basic financial services or provided financial support through microloans and other initiatives.

Getnet’s contributes to this goal with its customisable offering allows customers to choose the payment methods most suitable to their regional preferences and currencies. For regions that still have a large population of underbanked or unbanked people, alternative payment methods like e-wallets that do not require a bank account are crucial. 

These digital systems have reduced reliance on cash transactions, provided a gateway to other financial services, enabled micro-transactions and small-value payments, along with facilitated remittances and peer-to-peer transfers.

With its commitment to merchants of all sizes and individuals from all backgrounds, Getnet has established itself as the second largest merchant acquirer by transaction volume in Latin America and continues to innovate by enhancing its payments systems, investing in cybersecurity and exploring opportunities in emerging technologies like blockchain and artificial intelligence. 

The focus today is the same as it has always been, to explore and implement ways of making buying and selling goods as seamless and convenient as possible for customers and merchants, whatever their circumstances.