PPRO, the cross-border e-payments specialist, is 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 market. 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.
Source: Company Press Release