Nayax Partners With Santander's Getnet for Global Payment Expansion

Israeli fintech company Nayax has announced a strategic partnership with Getnet, the global payment platform of the Santander Group, to expand integrated payment solutions in key European and Latin American markets. Getnet is a leading payment solutions provider in Latin America and the Iberian Peninsula, ranking as the largest acquirer in Latin America by transaction volume and among the top ten global acquirers.

The agreement will enable operators of vending machines, electric vehicle charging stations, self-service kiosks, and other automated retail businesses to accept cashless payments using Nayax's terminals integrated with Getnet's acquiring network. The rollout will commence in Chile within weeks and subsequently expand to Spain, Portugal, Brazil, Mexico, and Argentina.

Nayax executives stated that the partnership will provide a unified, secure, and convenient payment experience across diverse markets, leveraging Nayax's global payment technology and Getnet's local infrastructure and expertise. Oren Teper, Nayax's VP of Sales, called the deal a significant milestone, opening new Latin American markets and strengthening their presence in existing ones.

Fabrice Mendez, Getnet's Global Head of Partnerships, echoed this sentiment, noting the agreement aligns with Getnet's strategy to become the preferred payment partner for technology companies worldwide. He highlighted Nayax's global leadership in automated retail and their joint aim to offer businesses an integrated payment solution combining global innovation with local acquiring expertise.

Despite this strategic advancement, Nayax's stock has experienced volatility. While the share price rose 4.43% in the past week, it has fallen 11.46% over the last month and 27.81% in the past three months.