Source: PPRO
PPRO, the leading local payments platform, has today announced its entry into the US market enabling global payment service providers (PSPs) and merchants to reach millions of US consumers via a single API.
The growth potential is significant with US e-commerce spending expected to reach US$1.5 trillion by 2027 with the average online shopper spending over US$4,000 a year with merchants.* US trade corridors between China, the UK and Canada account for 65% of cross border sales reinforcing the need for businesses to tailor their checkout experience based on consumer preference.
“As the global payments landscape becomes more fragmented, we’re seeing a rise in the adoption of local payment methods in the US such as BNPL and digital wallets, which mirrors what’s happening in Europe, LatAm, and APAC,” said Motie Bring, CEO of PPRO. “With an expected e-commerce market of US$1.5 trillion by 2027, this provides opportunities for global businesses to expand their reach into the US and enhance customer experience.”
The US market entry follows a recent funding injection of €85 million into PPRO to support its growth into key markets, expand its global network of local payment methods, and assist in strengthening its core teams across legal, compliance, and commercial. This follows PPRO’s previous successful geographic expansion into the APAC region and LatAm.