September 19, 2020

Banco Santander will launch its Brazilian payment system in Argentina and Mexico

The Spanish bank Santander will implement its Getnet electronic payment and transaction processing system in Mexico and Argentina this year, with which it leads the Brazilian market, Santander CEO Sérgio Rial said Wednesday at a press conference.

The executive, who is responsible for Santander’s businesses throughout the Southern Cone, also revealed that the entity will assemble an “artificial intelligence” unit in South America to attract clients with fewer resources.

“We launched Getnet in Chile two months ago and that is a reality that must be disseminated. We are going to launch it in Argentina at the end of 2020 and in Mexico between June and July of this year,” Rial said at the press conference in which commented the sharp increase in earnings of Santander Brazil last year.

Getnet, initially a Brazilian technology company to develop payment solutions whose control was acquired by Santander Brazil in 2014, became a global payment platform for businesses.

The platform, from which Santander Brazil acquired all of the shares last year, offers the processing of electronic transactions and card payments and operates a gigantic network of physical terminals (machines) that perform this type of operations mainly for small businesses .

Rial also said that Santander will launch in Argentina, on a date it did not disclose, Prospera, a product for which Santander Brazil offers loans to small and micro entrepreneurs and that has turned the entity into the private bank with greater participation in this segment in Brazil.

Referring to the search for clients with limited unbanked resources throughout Latin America, he said that Santander “will create a unit that, through” artificial intelligence “, will be dedicated to expanding the base of the pyramid with a regional look “.

For this, he added, Santander signed Roberto Jabali as head of risks, from Mexico’s Citibanamex.

Without setting deadlines, he said that Santander is building a financial one in Argentina, just like the one launched in Chile.

He also announced that the Brazilian subsidiary of Santander will seek to attract foreign talent and gave as an example countries such as India and Pakistan.

“We want to start a job of recruiting outside Brazil, with Portuguese, Spanish and English as frank languages, we are seeing if we bring people from India and Pakistan. We want to attract not only Brazilian talent but also the international, which was not in the company agenda, “he said.

Despite administrative obstacles, he clarified that it is possible to import talent with the current immigration framework in Brazil.

“It is true that there is no model that facilitates, that the process takes time, but power can be done,” he said.


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