Banco Santander’s payment fintech PagoNxt has launched its merchant payments business in some 30 countries in Europe under the Getnet brand.
The move will allow foreign and domestic merchants of all sizes in these countries to leverage Getnet’s payment solutions, whether they are Banco Santander customers or not.
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By GlobalDataGetnet’s products and services will be distributed by its own sales teams and Banco Santander’s network in Europe, serving the requirements of different merchant segments.
The brand already maintains operations in Spain and Portugal.
Its services focus on a value proposition for large e-commerce retailers. The firm plans to add over-the-counter and other types of payments to this in the future.
Getnet Europe has operational headquarters and technology hubs in Munich, Madrid, Dubai and Chennai, India.
PagoNxt COO Javier Félix 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.”
Last year, Santander snapped up technology assets from the European merchant payments business of insolvent payments firm Wirecard.
The bank said that the acquisition supported Getnet’s Europe launch on a ‘vastly accelerated timetable’.
Getnet, which has over 2,300 employees worldwide, provides merchants access to multi-channel, multi-method, multi-country payments.
Last year, it processed €90bn in four billion payments made by more than 1.1 million clients.
The brand is also planning to expand its operations to Uruguay soon. It is currently active in Brazil, Mexico, Chile, and Argentina.
Last December, PagoFX, the low-cost international money transfer service and part of PagoNxt, launched its services in Spain.
In April last year, Santander introduced PagoFX in the UK.
