PPRO acquisition of allpago : UK-based cross-border e-payments company PPRO has acquired allpago, a Latin American payments provider for an undisclosed price, to create one of the leading platforms in the world for local payments.

allpago offers payment and gateway services across Latin America covering 90% of the Latin American e-commerce market.

PPRO says that the acquisition is a transformational step for it to reach its goal of globalizing the company and consolidate on its recent foray into Asia-Pacific and North American markets.

PPRO acquisition of allpago will help the former to become a major influence across all markets across the world while gaining additional local payment methods (LPMs) to its payments portfolio.

By tapping allpago’s expertise and technical integrations into LPMs, the cross-border e-payments company expects to add much more value to its customers, which includes payment service providers and their merchants.

PPRO acquisition of allpago is part of a larger strategy that the UK payments company has adopted to transform into a truly global platform with direct integrations into all important local payment methods across the world, and to address the needs of customers around the clock, irrespective of their location.

The enlarged business will have over 200 people with expertise in local payments and in-depth experience in major markets across the world.

Commenting on PPRO acquisition of allpago, Simon Black – CEO at PPRO, said: “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.”

Based in London, PPRO by acquiring, collecting and processing a vast range of local payments methods for payment service providers (PSPs) under a single contract, through one platform and a single integration takes off the complexity of global e-commerce payments.

The UK payments company supports global payment methods in 100 plus countries, enabling PSPs to grow their merchants’ e-commerce reach, arrange hassle-free collection and gain higher conversion rates.

Philipp Bock, founder of allpago, commenting on PPRO acquisition of allpago, said: “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.”

  allpago, Banking industry news, Germany, Latin America, London, Philipp Bock, PPRO, Simon Black, United Kingdom