Santander launches new payment portal

Called PagoFX (Spanish for “I pay FX”), Santander is offering new customers two months free transfers, in an attempt to get a piece of the whitehot online payments market. Not a surprise, considering Santander charges as much as six times more than competitors. About a one-minute read.

Comment: oh this will fun to watch. About the only way incumbents like Santander could compete with upstarts like Transferwise is to acquire and close. The payments genie has been let out of the bottle. Incumbents gotta adjust their cost structure.