Santander: Spins off merchant payment business Getnet Brazil
- Santander announced that its leading merchant payment business, Getnet Brazil, is expected to begin trading
- The spin-off of Getnet Brazil, which was a wholly-owned subsidiary is part of Group’s plans
- Create a global merchant acquiring franchise under the Getnet brand as part of PagoNxt
- Creating a global franchise for Getnet Brazil will offer several benefits to its shareholders
- Enabling Getnet Brazil to realize the full potential of its business within a global structure and platform, bringing more efficiency
- Getnet Brazil is already the number three acquirer and number one in e-commerce in the country
