Santander Chile proposes to incorporate PagoNxt as a strategic partner of Getnet Chile to strengthen its leadership in the local payments market
MWN-AI** Summary
Banco Santander Chile has announced a strategic proposal to incorporate PagoNxt, its global payments platform, as a key partner in Getnet Chile, aiming to enhance its dominance in the local payments sector. As the largest acquiring operator in Latin America and the Iberian Peninsula, PagoNxt's integration into Getnet Chile seeks to leverage advanced technology and a robust international network. This partnership aims to capitalize on Getnet's established stronghold, which has captured an impressive 18.9% market share in physical card transactions since its inception four years ago and operates more than 316,000 POS systems nationwide.
During the Extraordinary Shareholders' Meeting scheduled for December 10, 2025, shareholders will vote on the acquisition which involves incorporating Getnet Payments, SL., a subsidiary of PagoNxt. Santander will retain a controlling interest of 50.01% in Getnet while receiving a cash payment of Ch$41.6 billion and a lucrative seven-year renewable distribution agreement valued at Ch$45.2 billion.
The strategic alliance with PagoNxt plays a vital role in Santander's global initiatives to amplify its market presence and enhance innovation across various regions. With PagoNxt's technological advancements and proven solutions, the partnership is poised to offer competitive advantages, enabling Getnet to confront future challenges while fortifying its market leadership.
Importantly, this collaboration will not result in any changes to existing contractual agreements for current Getnet customers, ensuring continuity of service. Santander Chile remains a solid entity within the region, marked by strong credit ratings and a solid financial foundation, positioning the bank and its subsidiaries for sustained growth in the evolving payments landscape.
MWN-AI** Analysis
The proposed strategic alliance between Banco Santander Chile and PagoNxt, facilitating the incorporation of Getnet Chile, presents an intriguing opportunity for shareholders and investors. This move is designed to bolster Santander's leadership position in the increasingly competitive and technology-driven local payments market.
Getnet Chile, having already captured an 18.9% market share in physical card transactions within four years, demonstrates solid performance. With more than 316,000 POS terminals in operation, integrating PagoNxt's capabilities offers a pathway to enhanced scale and innovation. Shareholders should view the cash payment of Ch$41.6 billion to acquire a 49.99% stake in Getnet Payments, alongside the distribution agreement valued at a net present value of Ch$45.2 billion, as an investment in future growth and resilience.
The impact of this partnership extends beyond immediate financial metrics. By leveraging PagoNxt’s technological prowess and international reach, Santander aims to tap into economies of scale and provide globally recognized solutions. This approach not only enhances Getnet's competitiveness but also potentially positions it to seize new business opportunities in the evolving fintech landscape.
From a risk perspective, Santander Chile's strong credit ratings and solid capitalization—with a BIS capital ratio of 16.7%—indicate a robust financial foundation to support this strategic initiative and absorb associated risks. The stable outlook from various credit agencies (including Moody’s and S&P) offers additional assurance to shareholders regarding the security of their investments.
Currently, the alliance does not alter the terms for existing Getnet clients, ensuring continuity and stability as the company transitions. This factor minimizes disruption and may comfort stakeholders regarding immediate operational stability.
Overall, as Banco Santander Chile embarks on this significant strategic move, shareholders can anticipate a strengthened market position and enhanced innovation potential, making this an auspicious time to assess their investment in the bank.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
- 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: irelations@santander.cl Website: www.santander.cl
FAQ**
How will the incorporation of Getnet Payments, SL. into Getnet Chile under Banco Santander - Chile ADS BSAC enhance the company's competitive edge against other payment platforms in the region?
Given Banco Santander - Chile ADS BSAC's strong financial position, how do you plan to utilize the Ch$41.6 billion cash payment to maximize returns for shareholders following the acquisition?
What specific innovations and technological advancements from PagoNxt can Banco Santander - Chile ADS BSAC leverage to expand Getnet's market presence and services in Chile?
How does Banco Santander - Chile ADS BSAC plan to maintain client satisfaction and loyalty during this transition, especially considering there are no changes in services for current clients of Getnet?
**MWN-AI FAQ is based on asking OpenAI questions about Banco Santander - Chile ADS (NYSE: BSAC).
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