Vantiv, a provider of payment processing services and technology for merchants and financial institutions, announced it, along with PPRO Group, a cross-border ePayment provider, are partnering up to provide international alternative payment methods (APMs) to Vantiv’s merchants.
In a press release, Vantiv said the new relationship enables Vantiv customers to be able to offer non-card payment methods — including direct debit, bank transfers, cash-based ePayments and eWallets — to international consumers. Vantiv merchants will also be able to add a preferred local payment method to reach new customers in Europe and Asia.
“Countries and cultures greatly differ when it comes to payments behavior. There are large groups of consumers who either prefer APMs over credit and debit cards or do not have access to card payment methods,” noted Sayid Shabeer, vice president of merchant product at Vantiv, in the press release. “We understand the importance of offering alternative payment methods, which, in some regions, account for 30 percent or more of all online spending. We are pleased to work with PPRO Group, an expert and agile provider, to bring these kinds of APMs to our merchants.”
Vantiv said the data from the international alternative payment methods will be combined with the analytics to give merchants more information about their global transactions. “We are proud to have one of the largest U.S. credit card acquirers worldwide as our new partner,” said Simon Black, CEO at PPRO Group, in the same press release. “It is great to see that U.S.-based merchants are increasingly looking into the vast growth opportunities that cross-border eCommerce can deliver for them.”
Earlier this week, Vantiv announced it launched an Android Pay Accelerator Program, which is designed to make it easier for developers and merchants to design solutions that have Android Pay as a payment method option. “We’re starting to see momentum in digital wallets being picked up by merchants,” Bill Cohn, head of eCommerce products at Vantiv, told Karen Webster of PYMNTS. “It’s important to say ‘starting’ because it hasn’t been overwhelming.”