PingPong, a cross-border payments infrastructure provider with more than 750,000 businesses in its network, has announced a strategic partnership with Getnet, the Santander group's payments company. The partnership lets PingPong merchants operate in Spain and Portugal through Getnet's local card acquiring infrastructure. According to the companies, merchants gain access to local methods such as Bizum and MB WAY, plus a single connection for payment acceptance, reconciliation, currency conversion and payouts. For PingPong, which has a strong presence in Asia, it is another step in its European expansion.

What it means: The deal shows how expansion into European markets works today: rather than building local infrastructure in every country, a provider partners with a large local acquirer that already supports the popular payment methods. In Iberia, Bizum and MB WAY are everyday tools, and an online shop that does not offer them loses customers, just as in Greece anyone ignoring IRIS or instalments loses sales. For Greek businesses selling abroad, the conclusion is that choosing a payment provider should start from the local methods in each target market, not just the fee per transaction. The arrival of Asian providers such as PingPong in Europe also means more competition for merchants who sell through marketplaces or import from Asia, with possible pressure on currency conversion charges. At the same time, relying on third parties for settlement and reconciliation calls for attention to fund holding terms and how quickly money reaches the business account. For Greek payment providers, the model is also an opportunity: foreign firms entering the Greek market will look for local partners with access to IRIS and instalment schemes.

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