Santander's Getnet Unveils Unified LatAm Payment System
Getnet, the merchant payment solutions division of Banco Santander, has launched a unified e-commerce payment system across four Latin American markets.
The system, called Getnet SEP (Single Entry Point), enables merchants to process payments in Brazil, Argentina, Chile and Mexico through one technical integration.
The platform, developed by Getnet Technology & Operations, Getnet's cloud computing division, processes payments, refunds and subscription billing whilst incorporating fraud prevention and tokenisation – the process of replacing sensitive payment data with unique identification symbols. The service provides personalised technical support through integration specialists to assist merchants with implementation.
The launch addresses the needs of online merchant platforms operating across Latin American territories, including subscription entertainment platforms and digital marketplaces.
These businesses currently manage multiple payment systems and technical integrations across borders.
Market Growth
The move comes as Latin American e-commerce volumes are projected to reach €800bn (US866bn) by 2026. Getnet processes more than seven billion payments annually worth €205bn (US$221bn) across its markets.
Merchants in Brazil using Getnet's existing Plataforma Digital service and those in Argentina have immediate access to the system. Chilean and Mexican merchants will gain access in the coming weeks.
The platform enables businesses to process regional payment methods through a single connection point. Through this simplified integration process, customers can reduce technical challenges associated with maintaining multiple payment methods and providers.
Technical Implementation
Getnet SEP provides merchants with options to add or switch payment providers and expand into new markets. The system supports sales, refunds, anti-fraud measures, subscriptions and tokenisation services.
Getnet operates as part of PagoNxt, Santander's financial technology unit focused on payment innovation and integrated solutions.
The company maintains technological centres in Brazil, Uruguay, Mexico and Spain.
The payment processor serves 1.3 million clients across seven markets including Spain and Portugal, establishing its position as the second largest payment acquirer in Latin America by transaction volume.
Getnet Technology & Operations provides cloud-based proprietary technology solutions to the Getnet acquiring franchise.
Through Getnet SEP, the company aims to provide a scalable solution that can adapt to changing business needs and accommodate future payment innovations in the region.
This includes the ability to adopt emerging payment technologies as they develop.
“Getnet by Santander will revolutionise Latin American e-commerce, being the only bank in the region offering this single integration,” says Kush Saxena, Getnet Global CEO.
“We're proud to already serve some of the most innovative e-commerce companies in the world, processing 171 million monthly transactions for our customers in the region.”
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