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MADRID, 31 May. (EUROPA PRESS) -
Banco Santander has announced the appointment of Kush Saxena as CEO of PagoNxt Merchant Solutions, which operates the merchant payments business under the Getnet brand.
This is a newly created position, from which the new CEO will manage the merchants and the acquiring business, the setting of rates and interchange fees in the United States, in addition to globally coordinating the acquiring business and being part of the committee of direction.
Saxena comes from Mastercard, where he has held the position of merchant payments manager (acquiring) in the United States. In that role, Kush was responsible for managing the merchant and acquiring business, rate setting and interchange fees in the United States, as well as globally coordinating the acquiring business and serving on the management committee. The manager joined Mastercard in 2014 as head of strategy, corporate development and mergers and acquisitions.
This appointment comes after recent changes in the management team, such as the appointment of Dean Nash (Wise) as head of the legal area, and after a first quarter in which PagoNxt shot up its revenues by 122%, to 162 million euros.
The CEO of PagoNxt, Javier San Félix, has highlighted that, with his knowledge and experience in payments, Saxena brings to the entity a new vision that will help it achieve its commercial objectives and take advantage of "the success that Getnet has achieved so far ". "Kush sees innovation as the main catalyst for offering our merchants new products and services that they won't find anywhere else," he said.
Kush Saxena will start working at PagoNxt in mid-June. The current CEO, Ignacio Narvarte, will become the Deputy CEO of PagoNxt Merchant Solutions and will work alongside Saxena to oversee the business across the Getnet franchise and the relationship with Santander's banking teams.
The new CEO holds a Bachelor of Science in Information Technology from the University of Gujarat (India) and a Master of Science and Engineering Management from Stanford University.
PagoNxt is the company that brings together all of Santander's most innovative payment businesses. It was created in 2020 with the integration of Santander Global Payments (Global Trade Services and Global Merchant Services) and Santander Digital and in January 2021 it acquired the assets of Wirecard.
The entity is structured into three platforms: Getnet (for payments in stores), One Trade (for international trade) and Superdigital (financial inclusion proposal for consumers).
The appointment announced this Tuesday corresponds to the first leg of the business, which in the first quarter of 2022 increased the total volume of payments by 40%, with 34,100 million euros, and increased the number of active merchants by 7%, up to 1, 24 million.
