PPRO’s partnership with UnionPay International accelerates the company’s expansion into China’s e-commerce market.
London, Feb 27 – Leading local payments platform PPRO is pleased to announce it has become a direct acquirer for UnionPay International, the world’s largest card scheme in terms of card issuance.
The relationship will provide PPRO’s payment service providers and their merchants in Europe the ability to accept e-commerce payment from the hundreds of millions of shoppers who use UnionPay as their preferred payment method. Opening up access to cross-border trade with the Chinese B2C e-commerce market, valued at $1,030 billion, is a move that again signals the strategic importance of the APAC region to PPRO.
With the addition of UnionPay, PPRO’s offering is now one of the most comprehensive offerings for PSPs and other merchant acquirers in the market; it covers acquiring, processing and funds collection all under one contract, one integration and one settlement. PPRO supports processing and settlement for UnionPay in 11 currencies. Customers benefit from faster on-boarding, transaction settlements and funds collection, refunds and improved conversion rates. PPRO will now be able to take full end-to-end management of UnionPay to market, offering better support and higher security.
Jack Ehlers, Director of Product, Payment Networks, and Business Development at PPRO, commented: “The Chinese e-commerce market is growing at a rate of 19% a year on average, representing a huge opportunity for international merchants. With an average spend of $1,934.72 a year per consumer, merchants can’t afford to ignore the Chinese e-commerce market any longer. Through PPRO’s new partnership with UnionPay International, it is now easier than ever for EU merchants who sell internationally to take their first step selling to Chinese consumers.”
Wei Zhihong, Market Director from UnionPay International and Head of UnionPay International Europe, added: “We’re excited to open up a world of opportunity and choice of products to Chinese consumers as well as many consumers from other parts of the world. Through the partnership with PPRO, our customers can now shop securely and confidently with international merchants, and with a payment method they are accustomed to. We believe this will also bring more opportunities to merchants.”
About PPRO:
Leading local payments platform PPRO removes the complexity of cross-border and domestic digital payments by acquiring, collecting and processing an extensive range of local payment methods for Payment Service Providers under one contract, through one platform and one single integration.
PPRO supports local payment methods across more than 100 countries, allowing Payment Service Providers to expand their merchants’ consumer reach, arrange hassle-free collection and achieve higher conversion rates. Currently, PPRO has integrations with around 130 PSP partners with approximately 100,000 merchants on its platform.
Founded in 2006 and headquartered in London, PPRO is a global financial institution with an e-money license issued by the British regulatory body FCA. For more information, please visit www.ppro.com.
About UnionPay International：
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 2000 institutions worldwide, UnionPay International has enabled card acceptance in 178 countries and regions with issuance in 58 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
Contact information:
Citigate Dewe Rogerson
Oliver Parry/ Brandon Stockwell/ Patrick Evans
unionpay@citigatedewerogerson.com
T: +44 020 7025 6400
Media contact:
Klareco Communications
ppro@klarecocomms.com
+65 6333 3449
