Banco Santander S A : Kush Saxena to join PagoNxt Merchant Solutions as new CEO

Kush Saxena to join PagoNxt Merchant

Solutions as new CEO

Madrid, 31 May 2022 - PRESS RELEASE. Today, PagoNxtannounces the appointment of Kush Saxena as CEO of PagoNxt Merchant Solutions, a newly created role. PagoNxt Merchant Solutions operates the merchant acquiring franchise under the Getnet brand.

Mr Saxena joins PagoNxt from Mastercard, where he held the position of executive vice president (EVP) of U.S. Merchants and Acceptance. In this role, Kush managed U.S. merchants and acquirers, pricing, and interchange, in addition to coordinating international merchant activities and serving on the company's management committee. Kush joined Mastercard in 2014 as EVP of Strategy, Corporate Development and M&A.

PagoNxt was created in 2020 and brings together all of Santander's most innovative payments businesses. Kush's appointment follows recent changes in management (e.g., the appointment of Dean Nash from Wise as general counsel) and comes off the back of a successful first quarter for PagoNxt, which saw revenue increase by 122% to €162 million.

Javier San Félix, PagoNxt's CEO, said: "I am delighted to announce Kush's appointment as CEO of PagoNxt Merchant Solutions, our stronghold business. With unrivalled expertise and experience in the payments space, he brings a fresh perspective that will help us realize our ambitious business objectives and build upon the success that Getnet has achieved thus far. Kush recognizes the value of thinking outside of the box to offer our merchants new products and services that they won't find elsewhere."

Kush will be joining PagoNxt in mid-June. Ignacio Narvarte, currently general manager, will take the role of deputy CEO of PagoNxt Merchant Solutions, working alongside Kush to oversee the business across the Getnet franchise and the relationship with Santander banking teams.

Kush received a Bachelor of Science degree in Information Technology from Gujarat University (India) and a Master of Science degree in Management Science and Engineering from Stanford University.

PagoNxt Merchant Solutions

PagoNxt Merchant Solutions develops and operates all Santander acquiring businesses worldwide under the Getnet brand. Based on the experience, knowledge, brand, and long history of success of Getnet in Brazil, PagoNxt has created a modern, cloud based Acquiring Platform to support all Santander acquiring business clients worldwide. PagoNxt Merchant Solutions provides products and value-added services through modern end-to-end infrastructure, creating the scale, efficiencies, and customer value required by a modern global acquiring platform. Getnet has strong presence around the world within Santander acquiring markets. PagoNxt Merchant Solutions is headquartered in Madrid, Spain with tech hubs in Munich, Madrid and Porto Alegre, operational centers in Dubai and Chennai, and customer business units in Mexico DF, Sao Paulo, Munich, Montevideo, Buenos Aires, Santiago de Chile, Madrid and Munich.

PagoNxt

PagoNxt brings together the most disruptive payment businesses from Banco Santander. It focuses on three core verticals: Merchant Solutions for businesses, Trade Solutions for corporates and SMEs, and Consumer Solutions to offer digital personal finance products. While it's part of Banco Santander, boasting more than 160 years of banking experience and 155 million customers worldwide, PagoNxt is an autonomous company, working as a fintech company to deliver solutions fast to the digital payments market. Headquartered in Madrid with a presence in 13 countries and a team of 3,400 payment experts and developers worldwide, with an extra 1,450 external developers, PagoNxt delivers its value proposition to more than 1.2 million merchants and 300,000 international SMEs and corporates worldwide, and over 650.000 consumers. PagoNxt comprises Getnet, One Trade, Payments Hub, Ebury, Mercury TFS and Superdigital.

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