Santander is gradually building a powerful payments network across Latin America and its latest move into Colombia could change how businesses scale across borders.
Santander’s payments arm, Getnet, has officially launched in Colombia, marking a significant step in its broader strategy to build a unified digital payments ecosystem across Latin America. The move is not an isolated market entry, but the latest phase in a long-term expansion designed to connect merchants across borders through a single, scalable platform.
The expansion builds on Getnet’s decade-long evolution into one of the region’s most advanced payment providers. Originally launched within Banco Santander in 2014, Getnet has grown from a card-focused processor into a full digital payments platform supporting e-commerce, mobile payments, alternative payment methods, and integrated point-of-sale solutions. Over time, it has expanded across key markets including Brazil, Mexico, Argentina, Chile, and parts of Europe, establishing itself as a major player in global merchant acquiring.
Today, Getnet operates at scale, processing hundreds of billions of euros annually and serving more than a million merchants worldwide. This growth has been driven by the increasing importance of digital payments in Latin America, where businesses and consumers have rapidly shifted away from cash toward more flexible, technology-driven payment methods.
The launch in Colombia reflects this broader regional transformation. As Santander notes, digital payments are now a core driver of economic growth and financial inclusion across Latin America, enabling businesses to reach new customers while giving consumers more access to formal financial services. However, the region remains fragmented, with varying payment methods and infrastructure across countries, creating challenges for companies operating across borders.
To address this, Getnet is positioning itself as a regional payments infrastructure layer rather than just a payment processor. A key element of this strategy is the introduction of Getnet SEP (Single Entry Point), an API-based solution that allows businesses to connect once and access multiple Latin American markets. This simplifies cross-border expansion for both local Colombian companies and multinational corporations entering the region.
“Over the past decade, Getnet has transformed from a promising Brazilian payments company into a global powerhouse, driving innovation and financial inclusion across Latin America and Europe. Any success story isn’t just about technological progress or market expansion, however. It’s about the positive impact Getnet has made on millions of businesses and customers, providing them with secure, efficient and accessible payment solutions. From small entrepreneurs to large corporations, Getnet emerged as a trusted partner to be depended on.”
Carlos Rey, Regional Head of South America at Santander
With its Colombia launch, Getnet now offers merchants a unified platform with several core capabilities. These include local e-commerce payment acceptance, advanced fraud prevention tools, and value-added services tailored to sectors such as retail, tourism, healthcare, and education. The platform also enables seamless connectivity across Latin America, allowing businesses to scale more efficiently without managing multiple integrations.
Another important aspect of the expansion is Getnet’s deep integration with Santander’s broader financial ecosystem. Clients can access not only payment processing but also banking services such as cash management, foreign exchange, and trade finance through Banco Santander. This creates a comprehensive financial offering that supports businesses from payment acceptance through to treasury and international operations.
The Colombian market is particularly significant for this strategy. With approximately 200 multinational companies operating in the country and a growing number of Colombian firms expanding abroad, there is strong demand for integrated, cross-border financial solutions. Getnet aims to serve both groups by acting as a “single entry point” into a broader regional commerce network.
Leadership also plays a key role in this expansion. Federico Balige, recently appointed CEO of Getnet Colombia and Argentina, brings extensive experience from his previous role as CEO of PayU Latin America. His appointment signals Santander’s intent to accelerate growth and strengthen its competitive position in the region’s fast-evolving payments landscape.
In addition to expanding geographic reach, Getnet continues to enhance its technological capabilities. The platform is designed to support a wide range of merchants, from small businesses to large enterprises, as well as payment facilitators, fintechs, and digital platforms. Its omnichannel architecture allows businesses to manage in-store and online payments through a unified system, improving efficiency and customer experience.
Due to strategic partnerships, like the one with UnionPay International (UPI), Getnet aims to cover in-store retail, e-commerce, and public transport payments, including metros, buses, and parking in select regions, integrating popular QR payments and digital wallet services.
The timing of this expansion is also notable. The COVID-19 pandemic accelerated the adoption of digital payments and e-commerce across Latin America, reinforcing the need for scalable, secure, and flexible payment infrastructure. As a result, platforms like Getnet have become essential enablers of modern commerce in the region.
Looking ahead, Santander’s strategy with Getnet is to build a connected, regional payments network that simplifies cross-border commerce and supports economic growth. The Colombia launch represents a critical step in that journey, reinforcing Getnet’s role as a key infrastructure provider in Latin America’s digital economy.
