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.

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