PingPong applies for payment license in Singapore
PingPong, a global payment solutions provider, 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.
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.”