Allpago, a payments provider that covers 90 percent of the payment and gateway services in Latin America, has been acquired by PPRO, the Atlanta-based e-payment specialist. PPRO does not work directly with merchants. It partners with PSPs and payment providers globally to connect them with local payment methods in various markets they can make available to merchant customers.
According to the June 13 press release, the deal will bring PPRO closer toward its goal of globalizing the cross-border e-payments company. Founder and CEO of allpago, Phillip Bock, will become a PPRO shareholder as the two teams work toward that goal.
“This deal is very strategic and a real case of ‘1+1= 3’,” said Simon Black, CEO at PPRO. “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.”
The e-commerce economy is continuing to emerge in Latin America. “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,” Bock said.