PPRO partners with Afterpay to expand BNPL options for merchants

PPRO, a digital payments platform, has announced a strategic partnership with Buy Now, Pay Later (BNPL) provider Afterpay. This collaboration is set to enable e-commerce merchants and payment service providers (PSPs) based in the US, Europe, China, and Hong Kong to offer their products directly to US consumers utilising the Afterpay payment system.

The BNPL model has been rapidly transforming consumer shopping habits in the United States. On Cyber Monday in 2023, the usage of BNPL services saw an unprecedented surge, increasing by 42.5% compared to the previous year. This growing trend is driven by consumers' preference for more flexible payment options, which in turn boosts the average order value for merchants as consumers spread the cost of their purchases over time.

Eelco Dettingmeijer, Chief Commercial Officer at PPRO, commented on the new partnership, stating, "With the popularity of BNPL in the US expected to increase, offering it at checkout is a no-brainer for merchants looking to sell to US consumers. Now merchants from the US, Europe, China, and Hong Kong can tap into Afterpay's platform and provide flexible payment options, which will attract more consumers and boost sales."

PPRO is known for its ability to help businesses and banks scale their local payment services through a single connection. The company partners with several notable names in the fintech industry, including Stripe, PayPal, and J.P. Morgan, to enhance their payment solutions, improve conversion rates, and simplify the process of handling local payments.

Afterpay, a subsidiary of Block, allows customers to purchase products immediately and pay over time, which aims to foster a transparent and responsible spending environment. This payment solution is currently available in countries such as Australia, Canada, New Zealand, the United States, and the United Kingdom, where it operates under the name Clearpay.

The strategic move by PPRO and Afterpay to bring BNPL options to a broader range of merchants and consumers is seen as a significant step towards enhancing the shopping experience and meeting the evolving demands of consumers who seek flexibility in payment options. As the BNPL trend continues to gain momentum, it promises to offer substantial benefits to both consumers and merchants.