IBOS member Banco Santander acquires technology assets from Wirecard, further strengthening the Bank’s position in the global merchant acquiring space.
Santander is enhancing its merchant payment platform, Getnet, globally and will also leverage the strength of the Wirecard assets to support its growth plans in Europe.
Some 500 employees will join Spain’s biggest bank, which is acquiring Wirecard’s European technology platform that processes electronic payments for merchants as well as its remaining credit card issuing business in Europe.
The acquisition will accelerate Getnet’s expansion in Europe, enhancing capabilities in e-commerce and multinational merchant servicing, as well as other payment services.
The assets that Santander has acquired extend its global open payments platform architecture, and create synergies in trade and payments. The acquired assets include payment solutions for merchants for acquiring and issuance services.
Read the full press release via Banco Santander here and in the Financial Times here.