CINCINNATI and LONDON, Dec. 6, 2016 /PRNewswire/ -- Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and technology for merchants and financial institutions of all sizes, and PPRO Group, a cross border e-payment provider, today announced a partnership to offer international alternative payment methods (APMs) to Vantiv's merchants.
This new relationship means that Vantiv's customers will be able to offer non-card payment methods – including direct debit, bank transfers, cash-based e-payments, and e-wallets – to international consumers through a single integration and customer service experience for both domestic and international payments processing.
In addition to existing credit and debit cards offerings, Vantiv's merchants will be able to add preferred local payment methods to reach new customers in Europe and Asia, maximize sales, accelerate go-to-market, and reduce costs.
"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. "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."
The data from these international alternative payment methods will be combined with the business-impacting analytics and reporting capabilities of Vantiv iQ for eCommerce to provide merchants with comprehensive information and a global view of all their 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. "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."
ABOUT PPRO GROUP
Headquartered in London, cross-border e-payment specialist PPRO Group (PPRO) removes the complexity of international eCommerce payments by acquiring, collecting, and processing an extensive range of alternative payments methods for Payment Service Providers (PSPs) under one contract, through one platform, and one single integration. PPRO supports international payment methods across more than 100 countries, allowing PSPs to expand their merchants' eCommerce reach, arrange hassle-free collection, and achieve higher conversion rates.
PPRO also issues Visa and MasterCard consumer prepaid cards, under its own brand name VIABUY, and enables B2B prepaid cards, under its CROSSCARD and FLEETMONEY brands, which can be issued both physically and as virtual cards or NFC devices (as stickers).
Part of the PPRO Group founded in 2006, PPRO Financial Ltd is an EU-based financial institution with an e-money license issued by the UK Financial Conduct Authority (FCA). For more information, visit ppro.com.
Vantiv, Inc. (NYSE: VNTV) is a leading payment processor differentiated by an integrated technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes, enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure, and more successful. Vantiv is the second-largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high-growth channels and verticals, including integrated payments, eCommerce, and merchant bank. Visit us at the new vantiv.com, or follow us on Twitter, Facebook, LinkedIn, Google+, and YouTube.
© 2016 Vantiv, LLC. All rights reserved. All trademarks, service marks, and trade names referenced herein are the property of their respective owners. Vantiv and other Vantiv products and services mentioned herein as well as their respective logos are registered trademarks or trademarks of Vantiv, LLC in the U.S. and other countries.
Director, Public Relations
For PPRO Group
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SOURCE Vantiv, Inc.