Spanish bank Banco Santander SA has announced that Getnet Brazil, the payment company for merchants, will begin trading on the B3 Stock Exchange in São Paulo from October 18. After that, the company is scheduled to trade on the Nasdaq Stock Exchange in New York on October 22, Santander noted.
According to the press release, the Nasdaq will be trading on a “regular way”. By maneuvering, Getnet Brazil expects to tap the full potential of its business by diversifying its revenue sources. The company is part of Santander Group’s plans to create a global franchised merchant under the Getnet brand as part of PagoNxt’s global payment technology.
“This strategic move will enable Getnet Brazil to unlock the full potential of its business as part of PagoNxt. Getnet Brazil will be part of a global platform, where we will leverage key capabilities, value-added products and services, and modern platform technology and engineering,” noted Pedro Coutinho, CEO of Getnet Brazil, in advertising.
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Roles of PagoNxt and Getnet Brazil
On the other hand, Javier San Feliz, CEO of PagoNxt, expects to improve the service through integration: “Payments are at the heart of our customer relationships and it’s a rapidly growing segment. Getnet is a premium franchise and has gained significant market share in Brazil in the past five years.” By bringing Getnet Brazil together with our global payments companies, we can leverage the scope of the group, further improving the services we provide to customers and creating shareholder value.”
In December 2020, Santander Bank’s sub-platform, PagoFX, launched a cross-border money transfer service for Spanish residents. This service, operated by PagoNxt, allows Spanish residents to transfer money internationally using any debit or credit card. Currently, the platform supports cross-border transfers to the Eurozone, other European countries and many countries across Asia, Oceania and the Americas.