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Portugal’s most popular digital payment method opens up a consumer base of over 4.5 million users
PPRO, the leading provider of digital payments infrastructure, has announced that it has expanded its coverage of the Portuguese market by integrating MB WAY, Portugal’s leading mobile wallet provider, onto its platform. This development comes as a result of PPRO’s long-standing partnerships with SIBS and Deutsche Bank Portugal.
MB WAY has a large consumer base of over 4.5 million users and is supported by 28 banks across Portugal. With a 45% market share of national e-commerce transactions and an extensive user base, payment service providers (PSPs) and their merchants that want to expand and grow in the Portuguese market need to offer MB Way as a payment method at checkout.
According to PPRO data, the Portuguese e-commerce market, currently worth 13.9 $US billion, is expected to grow to 22.6 $US billion by 2026. For online merchants wishing to tap into this vast growth, creating a seamless payment experience tailored to how Portuguese consumers spend their money is paramount.
This integration solidifies PPRO’s Portuguese payments portfolio as one of the most comprehensive in the market.
“Portugal offers PSPs and their merchants a solid opportunity to tap into a booming e-commerce market, and we’re excited to have integrated MB WAY onto our platform. At PPRO, we’re committed to building the most extensive digital payments infrastructure to support PSPs and merchants in gaining access to new cross-border markets and customers. Our digital payment methods offering is accessible through a new orchestration layer which means our customers can seamlessly optimise and scale their payment services as required,” said James Booth, VP, Head of Partnerships EMEA at PPRO.
Miguel Santos, VP, Corporate Coverage at Deutsche Bank Portugal, said: “Powered by PPRO’s digital payments infrastructure, Portugal’s leading digital payment method MBWay will now reach the global e-commerce ecosystem and generate more opportunities for merchants. We’re delighted to be supporting MBWay on their cross-border expansion journey.”
PPRO achieved unicorn status last year after raising US$270 million from JP Morgan, Eldridge, Eurazeo Growth, Sprints Capital and Wellington Management. Earlier this year, PPRO acquired Alpha Fintech, a next-gen payments technology company, in a deal expanding PPRO’s offering and strengthening its presence and networks globally.
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