PPRO Expands Presence in the South Korean Marketby Fintech News Hong Kong February 16, 2023
PPRO, a digital payments infrastructure provider, has expanded into the South Korean market by integrating local cards and e-wallet Toss Pay onto its platform.
The addition of local cards and Toss Pay opens up a gateway for PPRO’s global partners, payment service providers and their merchants, to reach millions of South Korean consumers. Toss, which is operated by Viva Republica, has 24 million users as of February this year.
PPRO said that its data revealed that cards make up 66% of usage in South Korea with digital wallets standing at 22%.
Tristan Chiappini, VP and Head of Partnerships APAC at PPRO said,
“South Korea has always been a frontrunner when it comes to digital payments. The integration of local cards and Toss Pay into PPRO’s infrastructure comes at the request of some of our largest customers and their tier 1 merchants that are struggling with poor conversion rates whilst relying on traditional global rails.
Given PPRO’s infrastructure allows for instant access upon launch of new local digital payments, markets, and other orchestrated services this frees up our partners’ roadmaps and instantaneously expands their reach into the South Korean market with consumers who are eager to shop cross-border. ”
Peter Lim, Lead Global Business Development of Toss Payments said,
“As one of the largest e-commerce powerhouses in the world, South Korea presents a huge opportunity for international merchants looking to accelerate their growth in the Asia Pacific region.
Our partnership with PPRO enables digital-first consumers in the country to shop with a diverse network of merchants using Toss Pay, the favoured payment method that they know and trust when making purchases online.”