News and resources on payments systems, innovations and initiatives worldwide.
PPRO buys allpago

PPRO buys allpago

UK cross-border e-payments firm PPRO has acquired Latin American counterpart allpago. Financial terms of the deal were not disclosed.

Allpago has built itself up to become a major provider of payment and gateway services in Latin America, covering 90% of the market.

Coming off the back of recent expansion efforts in North America and Asia Pacific, the acquisition is another step in PPPRO's globalisation efforts, adding a wealth of new local payment methods (LPMs).

The combined business will have more than 200 staffers, with allpago CEO Philipp Bock becoming a PPRO shareholder.

Simon Black, CEO, PPRO, says: "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.”

Comments: (1)

David Gyori
David Gyori - BANKING REPORTS, LONDON - London 14 June, 2019, 12:27Be the first to give this comment the thumbs up 0 likes

There is a general trend of consolidation in the payments universe. Important, relevant, falls into the general trend.
Everyone is afraid of GAFA and BAT, this fear (indirectly) drives consolidation.