PPRO Partners with Afterpay to Expand BNPL Services in the US

PPRO, a leading local payments platform, has announced a strategic partnership with Afterpay to offer Buy Now, Pay Later (BNPL) services to US consumers, as stated in FinTech Magazine. This partnership follows PPRO’s recent acquisition of €85 million (US$92.8 million) in funding aimed at expanding its market presence.

The new agreement allows e-commerce merchants in the US, Europe, China, and Hong Kong to sell directly to US consumers using Afterpay’s BNPL services. This move capitalizes on the growing popularity of BNPL as a payment option in the US, where Adobe reports a 42.5% increase in BNPL usage on Cyber Monday 2023 compared to the previous year. Between January and August 2023, US consumers spent $46 billion on BNPL transactions, marking a 14.7% year-on-year increase.

Eelco Dettingmeijer, Chief Commercial Officer at PPRO, highlights the significance of this partnership: “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.”

The partnership aims to leverage the growing consumer demand for flexible payment options, which in turn boosts average order values for merchants. As BNPL continues to gain traction globally, with significant adoption in markets like Australia and Sweden, PPRO’s collaboration with Afterpay positions it to meet the evolving needs of consumers and merchants alike.

In the US, BNPL is becoming a staple across various industries, with major retailers like Walmart introducing their BNPL offerings to compete with established players like Affirm. PPRO’s collaboration with Afterpay is set to elevate BNPL services to an international level, reinforcing the trend of increasing consumer adoption of flexible payment solutions.