Getnet list reinforces the importance of PagoNxt in Santander


Another sign of PagoNxt’s growing importance within Banco Santander was the IPO on Nasdaq and São Paolo of trader acquirer Getnet Brasil in October. While Santander Brasil previously housed Getnet’s home market operations, the $ 1.3 billion listing is used to shift majority ownership to the new global payments platform. In doing so, it brings PagoNxt closer to a potential IPO.

Speaking to Euromoney, PagoNxt Managing Director Javier San Félix describes a very different approach to banks taking advantage of high payment valuations and selling to capital-rich specialists.

Companies such as Nexi and Worldline are increasingly dominant in payments in Europe – largely thanks to the take-over of small-scale companies previously owned by banks, just as Paris-listed Amundi and others have it. done in asset management.

In the early 2010s, Santander seemed to be following this path. But today, there is no doubt that payments are at the heart of the group’s strategy. Indeed, it is San Félix’s job to accelerate the growth of Santander’s payments in Europe and Latin America, even in countries where Santander does not have a presence as a large commercial bank, such as in Germany.

Santander, of course, isn’t the only bank taking a new approach to payments.

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