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9M´24 Highlights
Payments
C/I Payments
Profit Payments (1)
Loans
C/I Payments
Profit Payments (1)
Loans
(1) Excluding the write-downs related to our merchant platform in Germany and Superdigital in Latin America. Including them, profit of €178mn.
PagoNxt
Total Payments Volumes (Getnet)
# transactions (Getnet)
Total Revenue
% open market revenue
EBITDA margin
Total Payments Volumes (Getnet)
# transactions (Getnet)
Total Revenue
% open market revenue
EBITDA margin
About us
PagoNxt is a one of a kind paytech business providing customers with a one-stop shop for innovative payments and integrated solutions.
Our history
PagoNxt was created at the end of 2020 as a global payments platform to bring Santander Group’s most innovative payment assets under one roof and build on the established Getnet franchise, with the aim of becoming the global leader in payments.
PagoNxt has become a standalone operation, with the best talent, processes, and corporate governance to provide the foundation stone for faster growth. The company has decision-making autonomy and a diverse talent pool with a strong tech focus, with 60% of the team coming from a tech background. We are investing to expand our payments offering, increase scale and enter high growth markets. PagoNxt achieved significant growth across all its markets in 2021 and 2022.
Strategy
PagoNxt aims to achieve a global leadership position in payments through our distinctive, holistic and customer-centric value proposition. We are a one-of-a-kind paytech business providing customers with a wide range of innovative payments and integrated value-added services.
We focus on several strategic and high-growth business segments:
- Getnet: Global and integrated acquiring, processing and value-added solutions for physical and e-commerce merchants.
- PagoNxt Payments: Payments Hub, account-to-account (A2A) payment and processing businesses. OneTrade, solutions for the management of international business of corporations and institutions.
- Ebury: Global cross-border payments platform for SMEs.
PagoNxt's technology platform and specialist teams serve Grupo Santander's payments needs and additionally cater for open market opportunities beyond Santander's business, delivering complete solutions for millions of businesses and individuals.
PagoNxt runs an efficient global operating model, extending across three core regions (Europe, South America and North America) and adopting bank-grade security and compliance embedded in our customer products.
PagoNxt's strategy is anchored on the following key levers:
- We are a one-of-a-kind paytech business backed by Santander
- Helping our customers prosper and accelerate their growth through a one-stop shop, providing solutions beyond payments to merchants and SMEs & corporates
- Strategic priorities: scaling up our global technology platform, accelerating our commercial growth and pursuing the open market opportunity
Our head
Juan Guitard
PagoNxt Vice President
Getnet
Global and integrated acquiring, processing and value-added solutions for physical and e-comm merchants
PagoNxt Payments
Payments Hub, account-to-account payment and processing businesses
OneTrade, solutions for the management of international business of corporations and institutions
Ebury
Global cross-border payments platform for SMEs
No results found
Cards
# Cards
Turnover
# Transactions
Average balance
Efficiency ratio
RoTE
# Cards
Turnover
# Transactions
Average balance
Efficiency ratio
RoTE
Note: number of cards managed by Cards equals to 102 million, excluding those managed by Digital Consumer Bank including Openbank (3 million cards).
About us
Cards plays a crucial role in the group’s payment growth strategy since it is a key element of customers daily relationship. Santander is positioned as a leading issuer globally with over 100M cards and an annual turnover exceeding 300bn euros. Our primarily objective is to provide exceptional payment experiences, fostering customer loyalty and leveraging transactional data to enhance profitability.
To realize this vision, we employ state-of-the-art technologies and effective data utilization, ensuring a seamless card-issuing and payment processor. This approach not only improves operational efficiencies but also uncovers new business models.
How: Our growth strategy
Our strategy revolves around expanding cards business opportunities across al Santander markets. We are committed to driving sustained progress on a global scale, enhancing customer experience through digital services, and implementing a new best-in-class global card issuing cloud platform. This will accelerate revenues and improve customer experience while optimizing operational costs.
Strategic priorities
We have three priorities to achieve our goals:
- Expand our business, in a profitable and sustainable way, developing credit and lending business, specializing in profitable segments such as corporate cards, and expanding businesses by leveraging PagoNxt’s merchant platform: Getnet
- Enhance customer experience through digital solutions, including improvements in dispute and fraud payment experiences, and develop our invisible payments strategy
- Become a best-in-class global card issuing tech platform. Simplifying first our Cards product portfolio, and Build & Run our Global Issuing Platform, that extends beyond technological capabilities
Our head
Matías Sánchez García
Senior Executive Vice President and Global Head of Cards and Digital Solutions
Annual Review 2023
Non-IFRS and alternative performance measures
In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRS”) and derived from our financial statements, the information above contains certain financial measures that may constitute alternative performance measures (“APMs”) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures (“Non-IFRS Measures”). Such APMs and non-IFRS measures have been calculated using the financial information from Santander Group but are not defined or detailed in the applicable financial reporting framework and have neither been audited nor reviewed by our auditors. While we believe that these APMs and non-IFRS measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant as a substitute of IFRS measures. In addition, other companies, including companies in our industry, may calculate or use such measures differently, which reduces their usefulness as comparative measures. For further details of the APMs and Non-IFRS Measures used by Banco Santander, S.A. (Banco Santander), as the parent company of Santander Group, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the Banco Santander´s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission, as well as the section “Alternative performance measures” of the annex to Banco Santander´s most recent quarterly Financial Report. These documents are available on Banco Santander’s website (www.santander.com).
The businesses included in each of the Santander Group primary segments and the accounting principles under which their results are presented in such documents may differ from the businesses included and accounting principles applied in the financial information separately prepared and disclosed by its subsidiaries (some of which are publicly listed) which in name or geographical description may seem to correspond to the business areas covered in such Santander Group documentation. Accordingly, the results of operations and trends shown for the Santander Group´s business areas may differ materially from those of such subsidiaries.