Santander Chile proposes to incorporate PagoNxt as partner of Getnet Chile

PagoNxt 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, a subsidiary of PagoNxt, into Getnet Chile with a 49.99% stake in exchange, among other things, for a cash payment of Ch$41.6B and a 7-year renewable distribution agreement that rewards Banco Santander Chile (BSAC) with a net present valuation of Ch$45.2B. 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 possesses its own technological developments, offers value-added services, and leverages payment solutions globally. It processed payments worth EUR 222B in 2024 and handled a total of 9.8M transactions for 1.2M merchants.