Subscribe
|
|
|
|
|
Interview

Navigating global payments and commerce: perspectives from PPRO

Monday 8 April 2024 10:05 CET | Editor: Bethiah Negussie | Interview

We interviewed the CEO of PPRO, Motie Bring, to learn more about the pivotal milestones of 2023 for the company, as well as the strategies for global growth and insights on the evolving payments landscape. 

Can you highlight some key milestones achieved by PPRO in 2023, and provide insights into your transition as CEO in October of the same year? 

2023 was an exciting year for PPRO, and for me personally. I joined PPRO in April and took over as CEO in October.  

I see 2023 as a year of accelerating growth and refocus on our core value proposition. We worked on our growth strategy, mission, and vision for the business. Our mission is to simplify access to local payment methods through one platform, empowering PSPs and merchants with access to the local payment methods they need to succeed. Our vision is to enable the sale of goods and services to anyone in the world using their preferred way to pay.  

We are focused on the unique challenges that PSPs and merchants face, so we have tailored our platform to better cater to all their needs when it comes to payments. This enables us to support our customers in delivering a more robust offering by enabling their expansion. 

In 2023, we focused our attention on increasing our offering in Europe and LATAM. We launched Twint, a growing payment method in Switzerland, right at the end of the year.  We also expanded our presence in LATAM, including onboarding Brazil-based Pix, a payment method which allows PSPs and merchants around the world to tap into Brazil’s ecommerce market. We also partnered with NPCI International Payments Limited (NIPL) to offer our global partners and customers access to Unified Payments Interface (UPI), an India-based real-time payment system, for cross-border transactions. 

What are some prominent trends and developments you see shaping global commerce? 

Fragmentation is here to stay. New payment methods and evolving customer expectations have created an increasingly complex payment processing landscape. Balancing consumer choice at the checkout page means the payments landscape is more challenging than ever for businesses to navigate.  

Consumer behaviour and payment preferences differ significantly across Europe and globally. We see this not only between regions, like Western Europe and Central Europe, but also between neighbouring countries. An increasing number of popular local payment methods are growing in Europe such as BLIK in Poland, Swish in Sweden, Twint in Switzerland, and Satispay in Italy, to name a few. Offering these local payment methods at checkout is integral for merchants looking to sell cross-border. Assuming a reliance on global payment methods is a mistake; local is the new global.  

Instant payments will also have a profound impact on global commerce particularly with the new SEPA Instant Credit Transfer (SCT Inst) mandate in Europe which will require the adoption of instant payments and push us towards a world where transactions happen in real time.  

What do you currently consider as high growth ecommerce markets? 

We are honing in on European markets. The diverse landscape of payment methods is fertile ground for innovation and growth within ecommerce. By offering the payment methods consumers prefer to use at checkout, merchants remain competitive and can sell internationally. 

The gig economy, marketplaces, and recurring payments are three areas we see that have genuine growth opportunities. Increasingly, freelancers and short-term workers are in need of payment solutions that can handle their dynamic and often pressing financial needs. It is no longer acceptable for individuals to wait weeks, or even days, to receive payments on invoices or even risk not receiving payment for their work.  

In addition, the high volume of transactions that happen on marketplaces requires trustworthy, secure, and efficient payment systems with local familiarity - that is where we come in to streamline and simplify the processing. 

Recurring payments represent another significant growth area due to the fact that they provide a steady and predictable revenue stream for the entire value chain. By facilitating recurring transactions for subscription-based services, memberships, and ongoing purchases, we can establish long-term relationships with PSPs and merchants alike. 

Following the recent announcement of EUR 85 million in funding, how does PPRO plan to leverage this investment to propel growth?  

Our recent funding of EUR 85 million is a clear vote of confidence in our strategy, vision, and growth prospects. This funding will give us the foundations we need to double down on our execution and further enhance our global network of local payment methods. 

We are very optimistic about our direction and future. With a strengthened balance sheet, we are now in an even better position to accelerate our growth plans. Our focus on helping customers access new markets by creating seamless local payment experiences is validated by the strong demand we are seeing, and this funding round will help us achieve our mission of simplifying access to local payment methods. 

The SCT Inst mandate was ratified by the European parliament. What do you believe will be the impact of this on ecommerce payments in Europe?

Given that currently only about 10-15% of payments in Europe utilise instant payment schemes, the scope for growth and impact here is massive. With the implementation of the instant payments mandate, funds will become available faster. This speed will revolutionise cash flow for businesses, allowing them to access their earnings without traditionally long waiting times.  

I believe the new mandate will have a positive ripple effect. Businesses will be able to manage their finances more efficiently, reinvest quicker, and increase their investment in activities that fuel growth. 

For consumers, the benefits are equally important. The convenience of instant payments will address urgent financial needs, making emergency payments or last-minute transactions seamless and stress-free. 

About Motie Bring 

Motie joined PPRO in 2023 as Chief Commercial OfficerBased in London, Motie joined PPRO in 2023 as Chief Commercial Officer, responsible for advancing the company's global commercial strategy. As of October 2023, he was appointed as Chief Executive Officer, and is leading the business into the next phase of growth and delivering industry-leading payment services for PPRO's customers and partners. 

Motie has over 20 years of experience in payments, having held a number of senior executive positions with renowned companies in the industry. He spent seven years in senior management roles at Worldpay and served as Chief Commercial Officer at payments technology company Nuvei. 

About PPRO

PPRO is a fintech company that provides digital payment solutions to businesses and banksPPRO is a fintech company that provides digital payment solutions to businesses and banks so that they can scale their local payment services through one connection. Stripe, PayPal, and J.P. Morgan are just some of the names that work with PPRO to accelerate their roadmaps, increase their conversions, and eliminate the complexities of local payments. Find out more at ppro.com

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ecommerce, payments , cross-border payments, funding, instant payments, local payment method, recurring payments, gig economy
Categories: Payments & Commerce
Companies: PPRO
Countries: World
This article is part of category

Payments & Commerce

::: more

PPRO

|
Discover all the Company news on PPRO and other articles related to PPRO in The Paypers News, Reports, and insights on the payments and fintech industry:





Free Headlines ::: subscribe now
RSS ::: follow ThePaypers via RSS ::: connect
LinkedIn ::: connect with ThePaypers on LinkedIn ::: connect
Twitter ::: follow ThePaypers on Twitter ::: follow
Facebook ::: like ThePaypers on Facebook ::: like