PPRO,
the cross-border e-payments specialist, is today announcing the
acquisition of Latin American payments provider allpago to create the
world’s leading platform for local payments. Allpago is the preeminent
provider of payment and gateway services in Latin America covering 90%
of the market1. This expansion is a transformational step for
PPRO to meet its ambition of globalizing the company and build upon its
recent expansion into Asia-Pacific and North America.
The deal will see PPRO become a major influence in all markets globally
and is adding a wealth of additional local payment methods (LPMs) to
their payments offerings. By utilizing allpago’s knowledge and technical
integrations into LPMs, PPRO can add even more value to their customers:
payment service providers and their merchants.
This acquisition is part of a wider strategy that PPRO has adopted to
become a truly global platform with direct integrations into all major
local payment methods worldwide, and to meet customers’ needs around the
clock wherever they are located. The combined business will have more
than 200 people with unmatched expertise in local payments and in-depth
experience in key markets around the world.
Simon Black, CEO at PPRO, comments: “These are incredibly exciting times
for everyone associated with PPRO and allpago. Given allpago’s proven
track record of success, we are sure of a highly successful combination
and we are delighted to join forces with such a fantastic team. This
deal is very strategic and a real case of ‘1+1= 3’.
“We have seen an increasing demand for the integration of Latin American
LPMs and this deal will provide our customers with access to local
payments, worldwide through one contract and one integration.”
Philipp Bock, founder of allpago, adds: “Latin America’s economy is one
of the most exciting emerging regions in the world. 156 million people
are expected to buy goods and services worth US $80 billion online by
the end of 20192. It is a part of the world that holds huge
potential for PPRO to build a thriving presence.
“The entire allpago team is excited to join PPRO and unite forces with
one of the leading payment technology and service providers for local
payment methods. This is a unique set-up which will see our existing and
future clients profit significantly by reaching the whole world through
one API.”
Philipp Bock, CEO and founder of allpago will become a shareholder of
PPRO and together the allpago and PPRO teams will continue to build the
world’s leading payments platform for global payment providers.
About PPRO
Cross-border e-payment specialist, PPRO,
(PPRO) removes the complexity of international e-commerce payments by
acquiring, collecting and processing an extensive range of local
payments methods for Payment Service Providers (PSPs) under one
contract, through one platform and one single integration. PPRO supports
international payment methods across more than 100 countries, allowing
PSPs to expand their merchants’ e-commerce reach, arrange hassle-free
collection and achieve higher conversion rates.
For more information, please visit www.ppro.com.
1 transactional volume in Latin American e-commerce excluding
travel volume
2https://www.statista.com/topics/2453/e-commerce-in-latin-america/
View source version on businesswire.com: https://www.businesswire.com/news/home/20190613005454/en/