Spreedly and PPRO have partnered to offer a portfolio of alternative/local payment methods (APM/LPMs) through the Spreedly platform. Spreedly and PPRO have partnered to offer joint customers the ability to access a catalogue of LPM offerings via one connection to Spreedly’s Payments Orchestration platform.

This includes LPMs such as Bancontact, BLIK, Boleto, Giropay, iDeal, Multibanco, OXXO, SEPA, Sofort, and Buy Now, Pay Later (BNPL) offered through Klarna, with more payment method additions planned. This allows digital businesses to offer the array of payment options that their end-customers demand instead of building and maintaining individual connections. According to officials, Spreedly has grown through a focus on building integrations with a variety of gateways and payment service providers (PSPs).

PPRO has been fostering the payments ecosystem by offering one access point to multiple payment methods. By blending these shared visions, the companies will be able to offer a comprehensive portfolio of payment methods and services available via one integration. Digital payments methods are as diverse as the people that use them and so giving consumers access to the right payment method choice at the checkout is essential to a merchant’s sustainable growth.

PPRO’s partnership with Spreedly means that merchants will be able to provide consumers with more choice to make purchases using their preferred way to pay around the globe. Alternative payment methods In a recent report, Voice of the Enterprise: Customer Experience & Commerce, Merchant Study 2022, McKee found that, the top two payments initiatives that commerce technology decision-makers are pursuing in 2022 are expanding APM acceptance and improving their omnichannel payments strategy. As merchants pursue these goals and others, they often find that a single payment service cannot handle every requirement of their business.

Therefore, it has become common practice to enlist multiple payment services to address specific business needs. APMs have increased in popularity as financial technology companies and tech giants have entered the payments ecosystem, providing consumers with faster and more convenient ways to make purchases and send money to friends and family. In 2019, APMs accounted for nearly 55% of global ecommerce transactions.

Digital businesses need to enter new geographies, better support the needs of their customers and partners, and improve authorisation rates for transactions. Just as no single gateway is perfect for all payments needs, offering the right mix of local payment methods is important. Payment Orchestration Platform As John Lunn, founder and CEO of Gr4vy, explains, payment orchestration is an integration layer between the front end of a merchant and all the payment companies that are out there.

Currently, merchants must integrate every single payment option directly into their website, so a Payment Orchestration Platform tries to remove the integration, time, effort, and the complexity of merging itself while providing an inner tool. About 60% of Zoomers or Gen Z don’t have bank accounts, therefore retailers must think of alternative ways to take payments from them. Adding alternative payments for the right kind of audience to suit specific needs will become essential in running a business.

Wallets, BNPL, and Open Banking in Europe – these are the main types of alternative payment methods that a company need to introduce into its ecosystem. To find more about Spreedly, check their profile in our company database. To find more about PPRO, check their profile in our company database.

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