PagoNxt’s Getnet boosts merchant payments offering in Europe

By Megha Bhattacharya

Banco Santander’s payment FinTech, PagoNxt, announced today that its merchant payments business is launching in Europe under the Getnet brand. Getnet, which has a strong business in Spain and Portugal, will now expand to other countries. Its 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.

Javier San Félix, chief operations officer at PagoNxt, said: “The global rollout 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 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 $10.5 trillion.

Recently, Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys and Santander UK, announced the rollout of Santander UK’s international cash management platform as part of the bank’s ongoing digital transformation programme. Santander Global Connect will be powered by the Finacle Cash Management Suite that includes the Finacle Digital Engagement Hub, Finacle Online Banking, Finacle Payments and Finacle Liquidity Management solutions.