The cross-border payments specialist is integrating e-wallet leaders Doku and Ovo into its global portfolio. The new integrations help to accelerate market entry and boost conversion for businesses hoping to tap on Southeast Asia’s largest e-commerce market, where credit card penetration is less than 5 percent of the population, the company said in an announcement.
PPRO’s local payments platform-as-a-service provides partners with the ability to accept locally preferred payment methods through one contract and one API. Its integrations feature a total of four payment types: e-wallet, internet banking, bank transfers, and cash for consumers who prefer to pay at ATM and convenience stores.
Indonesia is a strategic market for our top-tier customers and their merchants, who are being pressed to globalize faster than ever in the wake of the pandemic. Indonesia is also one of the world’s most complex regions regarding compliance, regulations, and consumer preferences, Kelvin Phua, PPRO global head of payment networks, said.
Indonesia’s e-commerce market is set to grow 50 percent year-over-year to $35 billion in 2020, with many consumers using online shops for the first time this year due to the pandemic, PPRO said, citing a recent survey by management consulting company Redseer
Founded in 2006, PPRO is backed by the likes of PayPal, Citi Ventures, and HPE Growth Capital. The company currently works with Alipay, WeChat Pay, GrabPay, Bancontact, iDEAL, BLIK, Boleto Bancario, and other local payment methods on its platform.
In 2019, the company began its push to increase global coverage with the expansion of its Asia-Pacific (APAC) operations out of Singapore and partnered GrabPay to support its payments and e-commerce solutions in Singapore.
