Santander’s payments FinTech PagoNxt is expanding into 30 European countries.
In Brief:
Santander has announced its payment FinTech unit PagoNxtis going to operate in 30 countries under the Getnet brand.
The bank currently has more than 150mn clients and 60mn active cards.
Santander acquired Getnet late last year following the collapse of Wirecard.
What does this mean?
The bank is seeking to boost its European payments business through Getnet’s presence and technology hubs. Expecting digital transactions to double between 2020 and 2025, the bank is expanding its PagoNxt FinTech offering which it has built from its consumer, merchant and trade payments businesses.
