PPRO has announced the launch of its Buy Now Pay Local solution in order to optimise the way merchants and PSPs access Europe’s BNPL market.
Following this announcement, the new solution was developed in order to provide a single integration point to access a curated portfolio of high-growth, locally preferred Buy Now, Pay Later (BNPL) providers across the region of Europe.
In addition, the service will focus on giving PSPs and businesses the possibility to access the local BNPL options that customers prefer through the use of a single, secure, and efficient integration.
The focus of PPRO’s Buy Now Pay Local launch
According to the official press release, BNPL is currently one of the fastest-growing areas in payments, already representing around 5% of global ecommerce transactions. The market is predicted to further grow and develop by nearly 70% between 2024 and 2030, with eight of the world’s top ten BNPL markets being located in the region of Europe. Furthermore, this growth presents a major opportunity for merchants and businesses to offer flexible, trusted, and efficient local payment options that drive sales and customer loyalty. With this in mind, PPRO’s Buy Now Pay Local solution was developed in order to deliver streamlined access to a fragmented market, with the overall launch featuring local providers like the BNP Paribas fintech Floa, Scalapay, and BLIK Pay Later.
Through the use of PPRO’s Buy Now Pay Local solution, businesses will have the possibility to achieve Europe-wide BNPL coverage (as they will be enabled to access a curated portfolio of high-growth, locally relevant BNPL providers across key European markets), boost conversions and basket size (the solution aims to increase sales and repeat purchases by offering the BNPL options customers prefer at checkout), deliver a local payment experience (representing the possibility to build trust with familiar and secure payment journeys tailored to each market), as well as tap into local insight (merchants will be enabled to leverage PPRO’s deep market expertise in order to understand and act on regional consumer trends).
According to a recent survey conducted by Floa and Kantar, 68% of European customers currently leverage instalment or deferred payments. This survey highlights that flexible, secure, and convenient payment options have become a consumer expectation. With this in mind, PPRO’s Buy Now Pay Local solution aims to enable PSPs and merchants looking to capitalise on these shifts in consumer behaviour, as well as offering them the possibility to maximise sales and build loyalty in the markets where BNPL is gaining momentum.
