PPRO integrates BNPL services provider Zip in its platform

This partnership allows PPRO to expand its Australian payments offering, with ZIP being the first Australian BNPL method to be added into the platform’s infrastructure. 

Zip, which includes Zip Pay and Zip Money, allows PPRO’s global partners and their merchants to offer Australian consumers the option of choosing their preferred checkout option when shopping online. 

PPRO representatives have stated that their partnership with Zip will enable their presence in the Australian e-commerce sector and help better serve their PSP partners and merchants by giving them access to the country’s ecommerce sector.

PPRO recent developments

In March 2022, PPRO announced the acquisition of Alpha Fintech, in a hope to expand and strengthen its presence in the Asia Pacific region. Alpha provides a cloud-based platform that allows the seamless orchestration of value-added payment services, including risk management, fraud prevention, and data analytics, amongst others.

Buy Now, Pay Later in Australia

Buy Now, Pay Later users have increased substantially in the past years due to the shift to online commerce that followed the Covid-19 pandemic, as well as the payment’s nature of being an interest-free loan.

The BNPL market in Australia has been rapidly developing, leading the world in uptake as it has become a common payment method, as per information provided by Statista. The leading purchase category for BNPL in Australia is Clothing and Electronics, and as the payment method has become more accessible to customers, the products and services that can be purchased with it have expanded. The BNPL payment adoption is expected to record a CAGR of 42.7% during 2022-2028, with the BNPL Gross Merchandise Value believed to reach USD 141 million by 2028.

A research conducted by Mozo showed that 82% of consumers in Australia choose the BNPL payment method for its convenience, the majority of spending being carried out by Gen X, who spend on average 25% more than Gen Z.

In the global market, BNPL is expected to reach USD 39.41 billion by 2030, registering a CAGR of 26.0% from 2022 to 2030, a growth that can be attributed to the high purchasing power BNPL platforms offer, as well as the consumer benefits of having interest-free and convenient payments.

For more information about BNPL developments in the global space, please check out the Payment Methods Report 2022.

For more information about PPRO, please check out a detailed profile in our dedicated, industry-specific Company Database.