Mexico City, September, 2021
Jáuregui y Del Valle advised PagoNxt Merchant Solutions, S.L. (“PagoNxt”), the affiliate of Banco Santander that operates autonomously and brings together the payments business, in the purchase of 70% of the shares Mercadotecnia, Ideas y Tecnología, S.A. de C.V. (“MIT”). MIT provides payment services for businesses in Mexico through products and services such as the point of sale terminals (POS), electronic commerce, mobile payments, call center, direct debits, recurring charges, CODI, among others. MIT and Getnet México, also an affiliate of Banco Santander, jointly provide their services as providers of technology and payment services to companies, SMEs and businesses. The transaction will allow Getnet to establish itself as the payment platform with the largest number of functions in Mexico.
The acquisition shapes the payments platform with the largest number of functions in Mexico, which will continue to expand to add value to large businesses, companies and SMEs, accompanying them with technological solutions for their collection needs for both cards and digital payments. This transaction will set the course for digital payments in Mexico by adding the global strengths and capabilities of Santander and Getnet, along with the innovation and speed of execution of MIT, which quickly translate the needs of merchants into cutting-edge technological solutions to boost payments mostly in the digital world.
- Fernando Alonso-de-Florida (Partner)
- Alejandro Creel (Senior Associate)
- Gabriela Rojas R (Associate)
- Juan Posada
- Anna Werner
- Pilar Salinas
- Nahieli Amador
- María Anglès
*This article is authored by Fernando Alonso-de-Florida and it may reflect their personal opinions independently from the law firm they work for. Shall you intend to apply any of the debated interpretations within the article, we highly recommend to formally consult Jáuregui y Del Valle, S.C. or any other qualified tax and labor advisor.
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