PPRO (profile), a provider of digital payments infrastructure, announced the acquisition of Alpha Fintech (https://alphafin.tech), a next-generation payments technology company. Through this acquisition, PPRO will expand its product range, enhance its presence and network presence in the Asia Pacific region.
Alpha Fintech’s cloud-based platform allows for the seamless integration of digital payments products and services, from payment processing and merchant management to risk management, fraud prevention, and data analytics.
The APAC-focussed company has played a pivotal role in accelerating the growth of banks, fintech enterprises, and payment service providers, including New Zealand’s BNZ and Southeast Asia’s super-app Grab.
By incorporating the Alpha platform into its infrastructure, PPRO is now preparing to roll out a plug-and-play orchestration layer to help customers integrate products and services at scale in a faster manner. With this product, customers will be expected to achieve a more global payment process, and gain third-party application integration capabilities, stronger compliance and risk resistance capabilities, and deeper data insights.
PPRO will also welcome 90 payment technologists from Alpha to its team, mainly based in Australia and Argentina, with some based in the US and Singapore. Their addition will expand PPRO’s regional network and reach and will help the company achieve its corporate mission of becoming a global payments giant.
Commenting on the acquisition, Simon Black, CEO of PPRO said, “The acquisition of Alpha Fintech will strengthen PPRO as a global leader in payments technology and a trusted partner for payment service providers, businesses, banks, and FinTechs status.”
He also said, “The global payments industry is evolving at an unprecedented pace. Together with Alpha, we will provide institutions with the core infrastructure needed to build and scale payment platforms.”
Oliver Rajic, CEO of Alpha Fintech, also looked forward to the transaction, sad, “We want to drive change and the popularization of technology in the payments industry. Given PPRO’s outstanding influence, reputation and position around the world, it will be The perfect partner to help us achieve this. We are very excited to work with Simon and his team to develop an end-to-end turnkey solution covering every aspect of the digital payments space.”
The transaction is expected to close in the first quarter of 2022. Among them, Financial Technology Partners (FT Partners) and Noerr Law Firm (Noerr) acted as financial and legal advisors to PPRO, respectively. Morrison & Foerster acted as legal counsel to Alpha Fintech.