Santander Chile proposes to incorporate PagoNxt as a strategic partner of Getnet Chile to strengthen its leadership in the local payments market
- The Bank will propose a strategic alliance with the Group's global payments platform to its Shareholders' Meeting. With this new step, Getnet Chile will leverage the Group's technological capabilities and international reach.
SANTIAGO, Chile, Nov. 19, 2025 (GLOBE NEWSWIRE) -- (NYSE:BSAC, SSE: Bsantander)) PagoNxt, the global payments platform of Grupo Santander and the largest acquiring operator in Latin America and the Iberian Peninsula, will now be part of Getnet Chile. This strategic alliance, which offers scale, technological capabilities, and the Group's international network, aims to strengthen the acquiring network's leadership in the local market. In fact, in its four years of operation, Getnet Chile has already achieved a 18.9% market share in physical card transactions and has more than 316,000 POS in operation nationwide.
This transaction—which will be voted on at the Extraordinary Shareholders' Meeting on December 10—involves the incorporation of Getnet Payments, SL., a subsidiary of PagoNxt, into Getnet Chile with a 49.99% stake in exchange, among other things, for a cash payment of Ch$41.6 billion and a 7-year renewable distribution agreement that rewards Banco Santander Chile with a net present valuation of Ch$45.2 billion. Santander Chile will thus maintain control of Getnet, with 50.01% ownership.
At a global level, Santander is working diligently to enhance its global capabilities across the various regions where it operates, leveraging its deep knowledge of each market. This acquisition aligns with that objective and will allow us to access more continuous innovation, economies of scale, globally proven solutions, and an international network that opens new business opportunities. In short, it strengthens competitiveness and accelerates innovation.
PagoNxt, the largest Latam and Iberia payments acquirer, possesses its own technological developments, offers value-added services, and leverages payment solutions globally. It processed payments worth €222 billion in 2024 and handled a total of 9.8 million transactions for 1.2 million merchants.
The alliance with PagoNxT reflects Getnet Chile's current success and strengthens its position in an increasingly competitive, technological, and globalized payments market.
This partnership allows shareholders to capture the value that Getnet has been able to generate through its successful performance since beginning operations in Chile, while also strengthening the company to face future challenges in maintaining and increasing its leadership.
It is important to note that this alliance does not entail any contractual or service changes for Getnet's current clients.
Banco Santander Chile is one of the companies with the highest risk ratings in Latin America, with an A2 rating from Moody's, A- from Standard & Poor's, A+ from the Japan Credit Rating Agency, AA- from HR Ratings, and A from KBRA. All of our ratings have a stable outlook as of the date of this report.
As of September 30, 2025, the Bank had total assets of $68,240,207 million (US$73,258 million), total gross loans (including interbank loans) at amortized cost of $40,988,278 million (US$44,002 million), total deposits of $29,356,420 million (US$31,515 million), and shareholders' equity of $4,592,379 million (US$4,930 million). The BIS capital ratio was 16.7%, with a core capital ratio of 10.8%. As of September 30, 2025, Santander Chile employed 8,583 people and had 231 branches throughout Chile.
CONTACT INFORMATION
Cristian Vicuña
Chief Strategy Officer and Head of Investor Relations
Banco Santander Chile
Bandera 140, Floor 20
Santiago, Chile
Email: [email protected] Website: www.santander.cl
