Payment processor Vantiv and PPRO Group, a cross border e-payment provider, have teamed up to offer international alternative payment methods (APMs) to Vantiv's merchants in the US to expand their reach overseas.
Now, Vantiv's customers can provide non-card payment methods such as direct debit, bank transfers, cash-based e-payments, and e-wallets to overseas consumers through a single integration and customer service experience for both domestic and international payments processing.
Besides existing credit and debit cards offerings, Vantiv's merchants can add preferred local payment methods that will enable them to reach new customers in Europe and Asia.
Furthermore, data from these international alternative payment methods will be pooled with the business-impacting analytics and reporting capabilities of Vantiv iQ for e-commerce to offer merchants with complete information and a global view of all their transactions.
Vantiv vice president of merchant product Sayid Shabeer said: “Countries and cultures greatly differ when it comes to payments behaviour. There are large groups of consumers who either prefer APMs over credit and debit cards, or do not have access to card payment methods.
“We understand the importance of offering alternative payment methods, which in some regions account for 30% 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."