Cross-border e-payments specialists PPRO has announced the purchase of Latin American payments provider allpago.
PPRO said in the announcement the move is part of an effort to further globalise the company and to create the “world’s leading platform for local payments.”
Simon Black, CEO, PPRO, commented: “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.”
Following its recent expansion into Asia-Pacific and North America, the firm wants to make its mark globally – after securing its European future via an e-money licence granted by the Ministry of Finance in Luxembourg.
PPRO expect the addition of allpago to demonstrate the company as a “major influence in all markets globally” by utilising allpago’s knowledge and technical integrations into local payment methods (LPMs), adding even more value to their customers.
Philipp Bock, founder of allpago, added: “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 $80 billion online by the end of 2019. 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.”
