PPRO – the leading provider of local payments infrastructure – has launched their integration of popular European mobile payment method Satispay and rounded out their coverage of the Italian market. The news comes just weeks after PPRO announced new funding and a milestone valuation of US $1 billion
The integration of Satispay solidifies PPRO’s payments portfolio in Italy as one of the most comprehensive in the industry. Their full market offering includes direct integrations to popular local payment methods MyBank, Trustly, Sofort, Paysafecard, and SEPA. Such a robust selection enables PPRO’s customers – payment service providers, gateways, banks, and enterprises with payment platforms – to boost sales in one of Europe’s fastest-growing e-commerce markets.
In the wake of the pandemic, e-commerce growth in Italy has shattered records. According to analysts – who project the country’s e-commerce revenue to exceed US $23 billion this year – there has never been a better time for global e-commerce businesses to set their sights on Italy. Satispay’s recent growth underscores the opportunity. Last year, the company doubled the number of online merchants in its network and recorded a 61% increase in the number of online transactions.
Over half of all Italian e-commerce is cross-border; the top three shopping destinations for Italian consumers are China (35%), the UK (19%), and Germany (19%). The key to tapping into this lucrative market relies on creating a seamless payments experience that accounts for all the ways Italians prefer to pay. Satispay’s e-wallet is a relevant choice, as nearly one-third of all Italian e-commerce purchases are made with an e-wallet.
Satispay is a crucial part of any merchant offering in Italy due to its active user base. Currently, Satispay has over 1.5 million users and is accepted by more than 10,000 online merchants – a number PPRO plans to increase in 2021. As a growing disruptor in payments, Satispay is also expanding in Germany and Luxembourg, where the company officially launched its solution in late spring 2020.
“The future of borderless e-commerce is being shaped by payment methods like Satispay that meet specific, local consumer demands,” comments Jack Ehlers, Chief Product Officer at PPRO. “Satispay’s innovative European e-wallet provides access to millions of Italian consumers, a strategic market for many businesses. What’s more, our direct integration will deliver a best-in-class technical performance, passing on the benefits of increased conversion rates and sales to our customers and their merchants.”
Andrea Allara, Chief Business Development Officer at Satispay, adds, “PPRO is a valuable, strategic partner for us. At the end of the day, their local payments infrastructure will connect our consumers with many thousands of global merchants, allowing them to shop wherever they want for goods and services. We couldn’t be happier with this close collaboration.”