PPRO, a provider of digital payments infrastructure, has integrated buy now, pay later (BNPL) provider Zip onto its platform, further expanding its Australian payments offering.
Zip, which includes Zip Pay and Zip Money, becomes the first Australian BNPL method to be added to PPRO’s digital payments infrastructure and sits alongside other Australian local payment methods. The new integration allows PPRO’s global partners and their merchants to offer Australian consumers a way to pay with their preferred checkout option when they shop online. According to Zip’s own research, merchants offering Zip at the checkout realise a 20 per cent increase in conversion and top line sales and 60 per cent increase in average order value (AOV).
With the pandemic accelerating the country’s move towards e-commerce, the Australian market presents a big opportunity for merchants marketing cross-border. In fact, Australia’s online retail market is expected to grow by 10.3 per cent CAGR by 2024, with sales projected to reach $59.4billion. According to PPRO data, the top three cross-border shopping origin markets for Australians are China, the US, followed by the UK.
Tristan Chiappini, VP and head of partnerships APAC at PPRO, commented: “Surprising to some, Australia is one of the most complex markets in the Asia Pacific region when it comes to its payments landscape. While cash is out, Australians are ahead of the curve when it comes to using alternative payment methods like instant bank transfers, digital wallets, and BNPL products to transact online.
“In fact, the popularity of BNPL continues to grow in the country, it will soon overtake credit and debit cards as a preferred payment method. The addition of Zip to our Australian payments mix enables us to better serve our PSP partners and their merchants, giving them greater access to Australian consumers and the country’s booming e-commerce sector.”
Tommy Mermelshtayn, chief strategy officer at Zip, commented: “We are thrilled to partner with PPRO and become the first Australian BNPL payment method to be added to their digital payments infrastructure. This exciting new alliance will allow us to globally scale our partner ecosystem by supporting our core markets, and better manage our partner onboarding process so that our merchants and customers continue to have the frictionless experience they expect from Zip. We’re on a mission to become the first payment choice everywhere and everyday, and partnerships like these will get us there sooner.”