- Expanding presence and strengthening in-market capabilities with a new Singapore office
HANGZHOU, China, Nov. 2, 2022 /PRNewswire/ -- PingPong ("the Company"), a global payment solutions provider, debuts at Singapore FinTech Festival (SFF) 2022 (2-4 Nov 2022) to present its latest one-stop payment services and comprehensive cross-border solutions for online merchants, financial institutions, technology platforms, and enterprises. During the event, the company also announces that it is applying for a Major Payment License in Singapore and plans to launch in Singapore upon receiving approval from the regulator.
A pioneer in providing end-to-end payment solutions for global cross-border businesses, PingPong offers global e-commerce sellers the ability to manage multiple currencies in a single, secure platform across the U.S., Europe, and Asia. Since it was established in 2015, the company has been growing rapidly, and as of today, more than one million merchants utilize its technologies for cross-border, value-added tax, and supplier payments. The company's TPV had reached more than USD 90 billion by the end of September 2022.
PingPong is strengthening its coverage in Southeast Asia at a time when buying and selling habits in the region have changed profoundly following the unprecedented challenges of the global pandemic. In 2022, Southeast Asia's digital economy is expected to grow by 20%, approaching $200 Billion GMV. PingPong is well-positioned to capture the growth of cross-border e-commerce in Southeast Asia with its extensive experience in working with both upstream and downstream participants in the e-commerce payment ecosystem and providing high-quality cross-border financial services for enterprises of all sizes in the region.
Cyrus Tong, Regional Chief Compliance Officer, said, "At PingPong, we have helped hundreds of thousands of customers expand their business globally. Our on-boarded and supported platforms include globally important e-commerce enablers such as Amazon and Shopify."
"We understand the anxiety of our customers when they venture into new markets, especially a region as diverse as Southeast Asia, which consists of 11 countries, 7 major languages and multiple local currencies. But it is also one of the most exciting markets for e-commerce right now because the majority of the population is young and digital-savvy. Our team provides a comprehensive suite of solutions that allow global payments at a lower cost and higher speed, and most importantly, helps our customers navigate cross-border compliance and regulatory complexity, which are some of the key concerns they have when establishing their e-commerce businesses beyond the borders."
At Singapore Fintech Festival 2022, which is themed "Building Resilient Business Models amid Volatility and Change", PingPong presents its one-stop payment services designed for small-to-medium businesses. It supports onshore/offshore payments in 16 major currencies and allows merchants and suppliers to manage international transactions and track the payments in real time.
Another highlight is a one-stop treasury and payment solution. An ecosystem that supports 266 local payment methods in more than 50 currencies, this solution connects hundreds of thousands of merchants and trillion-dollar GMV e-commerce and digital economy platforms. It enables platforms and financial institutions to tap into the enormous potential of a rapidly growing e-commerce industry. Business opportunities in over 200 countries with a 5 billion reach could be unlocked at the click of a button.
Founded in 2015, PingPong is a leading technology company built on the global vision that empowers cross-border digital commerce to grow. We are one of the largest payment and digital trade solution providers serving more than 1 million global customers. Our one-stop, compliant and comprehensive suite of products includes e-commerce payment, B2B trade payment, acquiring service, card issuing, FX management, supply chain finance, VAT tax services, enterprise solutions, business intelligence software and more.
Today, PingPong has accommodated business flows from over 200 countries/regions. Our tested and proven global infrastructure has processed over $90 billion in transaction volume and connects over 100 international e-commerce marketplaces and ecosystem partners, as well as over 100 international financial institutions.
PingPong has established more than 20 global offices and holds relevant payment, forex, financing and internet operation licenses and permits in the world's largest economies including the U.S., Europe, Greater China, Japan and India.