PPRO has announced its entry into the US market. With this new reveal, it will enable global payment service providers (PSPs) and merchants to reach millions of US consumers via a single API.
Stripe, PayPal, and J.P. Morgan are some of the names that already work with PPRO to accelerate their roadmaps, boost their conversions and eliminate the complexities of local payments.
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PPRO expect to capitalise on the growing US e-commerce market
The growth potential is significant with US e-commerce spending expected to reach $1.5trn by 2027 with the average online shopper spending over $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.
Motie Bring, CEO of PPRO, said: “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. With an expected e-commerce market of $1.5trn 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 €85m 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.
This announcement come a month after PPRO revealed it had achieved €85m in funding. The funding is provided by new and existing investors, including Eurazeo, HPE Growth, Sprints, PayPal Ventures, J.P. Morgan and Citi Ventures
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