MEXICO - Finance
Managing Director, Getnet Mexico
Fabián Ferrari is Managing Director of Getnet México. He has a degree in economics with a specialty in finance. He holds over 20 years of experience in banking, having led various departments within Santander, including corporate banking, treasury, and others. Over the past three years, he has been in charge of developing Santander’s strategy for acquisition and incentivized the acceptance of cards in the Mexican market, helping report double-digit levels of growth year on year.
PagoNxt is a payments company with which we want to get into the hearts of customers’ day to day payments. It has three main business lines: Getnet, One Trade and SuperDigital. The company I represent in Mexico is Getnet, the second-largest acquirer in the country; we went from being the fourth in terms of the number of transactions to second at the end of 2021. Our goal is to provide merchants with the best technology and innovation, with something that we call merchant services” this means we will provide everything a merchant needs to increase sales performance in its point of sale. Something important about Getnet is that we have ventured into the development of new verticals that no one had ever developed before, for example, mass public transportation. Here, we have enabled the stations of the Metrobus line 1, 2 and 3, to accept contactless payments to bank cards.
In October 2021, we consolidated the purchase of 70% of the shares of MIT Technologies, which has been our partner for more than 15 years. Through MIT, we have developed many of the technological functions for our merchants, such as Centro de Pagos, which is well known in the market, as well as our smart terminals.
The main difference is that PagoNxt is built as a fintech with global technology, which goal is to have the heart of a start-up and the possibility of developing in an agile way the payment solutions that are needed in the country. It does complement the bank’s work.
We want to be the best. The mission is to be the biggest and best so that all the companies that have payments in the ecosystem understand that Getnet is the best means of connecting, the best acquirer for the service or capabilities we have, for innovation, for our employees and the team we have. We now call ourselves Nxters, and that is how we want to be known in the market. The steps we are taking at Getnet will help the payments ecosystem in Mexico evolve and improve. The innovations we are making have helped contactless payments grow faster, which will displace cash at a faster rate, in a country like this that needs it. Getnet Mexico will be seen as the leading acquirer that, in addition to providing a great service to all large and small corporate companies that need merchant services, innovates in many areas where payments were not accepted before. Thanks to Getnet, many of these payments will be accepted. We have defined 2022 as a year of growth. 2021 was an important year of change due to the consolidation of our technological platform. In 2022, we are ready to grow significantly.
The greatest challenge is for small merchants to start adopting the innovation and new technology in terms of payments. As financial institutions, we need to help them understand how electronic payments can help them. The primary goal is to put cash aside. Mexico is still one of the countries with the lowest penetration of electronic payments in Latin America and the world. We have to push hard so that all micro-entrepreneurs, from the lady who selling flowers on a corner all the way to the most sophisticated businesses, understand that electronic payments are the future, and the future should be theirs and their sales. There are many local merchants that are not yet using payment services as they should, so we are going to get into it more aggressively.
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