Getnet, a division of Banco Santander, has launched a new unified e-commerce payment system across Latin America.
- The system, Getnet SEP, simplifies payments in Brazil, Argentina, Mexico, and Chile through a single integration.
- Getnet SEP addresses the needs of merchants who currently handle multiple payment systems across borders.
- The platform incorporates advanced features like fraud prevention, refund processing, and subscription billing.
- Immediate access is available for merchants in Brazil and Argentina, with Chile and Mexico joining soon.
Getnet, the payment solutions arm of Banco Santander, is revolutionising the Latin American e-commerce landscape with the launch of its new unified payment system, Getnet SEP (Single Entry Point). This innovative platform allows merchants operating in Brazil, Argentina, Mexico, and Chile to process payments through one comprehensive integration. The move targets the burgeoning e-commerce market in the region, projected to hit €800bn by 2026, by offering a seamless technical solution to cross-border payment challenges.
The Getnet SEP platform, developed by Getnet’s Technology & Operations division, enhances payment processing by including functions such as refunds, subscription billing, and tokenisation, the latter being a cutting-edge technology that protects sensitive data by substituting it with unique identifiers. In addition, the system offers highly specialised technical support through integration specialists, ensuring merchants can efficiently implement this new service. This strategic advancement is poised to significantly alleviate the operational burden on merchants, who currently juggle multiple fragmented payment systems.
As an immediate benefit, merchants in Brazil already using the Plataforma Digital service, alongside their Argentine counterparts, now enjoy direct access to Getnet SEP. This rapid rollout will soon extend to Chilean and Mexican merchants, underscoring Getnet’s commitment to delivering seamless regional service. The offering promises to simplify the integration process, thereby reducing the technical hurdles typically associated with managing diverse payment methods and providers across different markets.
Not just a payment processing tool, Getnet SEP empowers businesses to adapt and expand rapidly, providing the flexibility to add or switch between payment providers and enter new markets efficiently. The system supports critical functions such as sales, refunds, anti-fraud measures, and tokenisation, aligning with the evolving requirements of modern e-businesses. Under the umbrella of Santander’s PagoNxt, a unit dedicated to payment innovation, Getnet aims to solidify its position as a leader in the region, serving over 1.3 million clients across seven countries, including major markets like Spain and Portugal.
Kush Saxena, Getnet Global CEO, emphasises the transformative potential of this launch, stating, “Getnet by Santander will revolutionise Latin American e-commerce, being the only bank in the region offering this single integration.” This ambitious vision is backed by an impressive operational scale, processing over 171 million monthly transactions. The launch of Getnet SEP is a significant step in Getnet’s ongoing strategy to provide scalable, future-ready payment solutions capable of incorporating emerging technologies, thus continuously meeting the dynamic needs of e-commerce businesses.
Getnet SEP marks a pivotal shift in Latin American payment processing, streamlining operations and enhancing future e-commerce growth.
