back Back

Banco Santander to acquire technology assets from Wirecard

By Megha Bhattacharya

November 18, 2020

  • Banco Santander
  • Europe
Share

santanderBanco Santander recently announced that it will be acquiring specialised technological assets from the merchant payments business of Wirecard in Europe for speeding up growth plans across the region. The acquisition will see around 500 employees, managing the concerned assets, join Santander and become a part of the company’s global merchant services team under the umbrella of the Getnet global franchise.

Ana Botín, Banco Santander executive chairman, said, “At Santander, we aim to provide the best payment solutions and services to our customers. The assets and talent we will gain as part of the acquisition will help us accelerate Getnet’s expansion plans in Europe, while also increasing our product development capacity.”

According to Santander, the acquisition is expected to accelerate Getnet’s expansion in Europe and extend the former’s open payments platform architecture. The acquired assets include payment solutions for merchants for acquiring and issuance services.

The deal is expected to be completed by the end of the year and is subject to certain conditions, including regulatory approvals. Until closing date, Wirecard and Santander will jointly work to ensure current customers, vendors and partners a smooth transition to this new phase of the Wirecard service.

Recently, Santander announced its intention to bring together Getnet for the creation of PagoNxt and focus on accelerating growth in three business areas: merchant solutions; trade solutions for SMEs which trade internationally and want services once only accessible to corporates; and consumer digital products and services.

Santander UK also teamed up with Personetics for facilitating the launch of a new digital solution called ‘My Money Manager’. The solution will be integrated into the Bank’s mobile banking app and will offer financial tips, personalised spending insights as well as upcoming financial commitments through push notifications.

Previous Article

November 18, 2020

Al Baraka Banking Group’s digital transformation to gain further momentum

Read More
Next Article

November 18, 2020

Marqeta announces strategic global card issuing partnership with Uber

Read More

IBSi Prime News

The Weekly Wrap

January 21, 2022

Banco Santander

The Weekly Wrap: all you need to know by Friday COB | Jan 21st

Read More
  • Daily insightful news analysis
  • Weekly snapshots of industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives who are shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

January 21, 2022

7 FinTech tweets you should see!

Read More

January 21, 2022

Urway becomes first FinTech to get certified by Saudi Payments

Read More

January 21, 2022

Paysafe partners with transcoin.me to enable cash funding for cryptocurrency exchange

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
Applications of Artificial Intelligence In Banking 2021

£500

Know More
Global Digital Banking Vendor and Landscape Report Q4 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report Q4 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More