PagoNxt grows on consumer, retail success

PagoNxt grows on consumer, retail success

Santander has announced its Q1 2022 results, including an update on its autonomous payments business PagoNxt. And it’s been a strong quarter for PagoNxt, with revenue climbing 122% year-on-year to €162m, while losses have dropped to -€32m – over half of those a year ago.

PagoNxt sees revenue climb as losses shrink: Santander's PagoNxt quarterly revenue and pre-tax loss

PagoNxt brings together the company’s payments brands, including merchant acquirer Getnet, B2B-focused One Trade and Ebury and emerging market consumer-focus Superdigital.

This quarter, Getnet – which covers ecommerce, point-of-sale and omnichannel retail – has been a particularly significant growth driver, seeing a 40% rise in payment volumes and a 7% increase in total active merchants.

Despite refocusing on B2B after it closed European consumer-focused PagoFX, PagoNxt has also seen considerable growth from consumer activities, with its LatAm-focused Superdigital helping it to see volumes that exceed pre-pandemic levels.

Meanwhile, on B2B the company is seeking to attract the international trade business of SMEs and institutions through the combination of One Trade and Ebury, which have served around 8,000 and 15,000 businesses respectively. Real-time payments have been a particular focus here, with One Trade launching real-time payments between Spain and Brazil in the quarter.

Who are the biggest players in cross-border payments?

Read More About
PagoNxt

Santander’s PagoNxt passes €1bn in annual revenues in FY 23

January 31st, 2024

PagoNxt makes a rare profit in Q3 23

October 25th, 2023

Santander’s cross-border payments arm PagoNxt on track to pass €1bn revenue in 2023

July 26th, 2023

+
Sign In
+
Account Registration
By creating an account, you agree to our
Terms and Conditions
+
Please enter your email address
We'll send you instructions on how to reset your password.
+