Banco Santander to acquire Wirecard's assets

Wednesday 18 November 2020 14:03 CET | News

Banco Santander has announced that it will be acquiring specialised technological assets from the merchant payments business of Wirecard in Europe.

The acquisition will see around 500 employees, managing the concerned assets, join Santander and become a part of the company’s global merchant services team under the umbrella of the Getnet global franchise.

According to Santander, the acquisition is expected to accelerate Getnet’s expansion in Europe and extend the former’s open payments platform architecture. The acquired assets include payment solutions for merchants for acquiring and issuance services.

The deal is expected to be completed by the end of 2020 and is subject to certain conditions, including regulatory approvals. Until closing date, Wirecard and Santander will jointly work to ensure current customers, vendors and partners a smooth transition to this new phase of the Wirecard service.

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Keywords: Banco Santander, Wirecard, Europe, GetNet, open payments, merger, banking, financial services
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech