March 4, 2021 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce the signing of an Agreement with Santander Bank in Mexico City, Mexico.
Santander is one of the largest banks operating in Mexico. It has over 18 million customers and more than 1,300 branches in the country. Staffed with more than 22,000 employees, it is recognized as one of the banks with the widest range of services and the most innovative and efficient banking system in Mexico. Santander has publicly stated that one of their current goals is “improving customer experience by leveraging new tools and methodologies, as well as enhancing operating processes.”
Under the terms of the agreement, Santander shall migrate Newt’s merchant accounts and provide enhanced value for the following tasks: settlement of bank services, Credit Card processing, including VISA, Mastercard and American Express, automatic debit and withdrawal for merchant accounts, Compliance for Certification for tokenization, assurance and credit line services, and many other features in a competitive business model, providing an advantage to Newt’s customers.
Sergio Maya Aleman, CEO of Latin America of Newt Corporation, stated: “Signing with Santander to service Newt’s merchant accounts will allow Newt to add more products and features to the platform, while benefiting from the support of one of the biggest banking institutions in the world. This will provide additional stability to our platform, adding security of recurring payments and bringing us a competitive advantage in the market”.
Steven Hoffman, CEO and Founder of Newt Corporation, added: “This is one further step in consolidating our operations with one of the largest players in the banking industry in Mexico, which will further allow us to have more sustainable growth in our operations and expansion.” He also remarked: “Newt’s business is evolving fast with these business relationships, and is getting closer to fulfilling the larger target of being a key provider in the Fintech space in Latin America. This knowledge shall be an integral key to launching the platform in the USA for servicing B2B service providers for the unbanked and prepaid market.”