What is PingPong? PingPong Review

Company Profile

Hangzhou PingPong Intelligent Technology Co., Ltd. (PingPong for short) is a global payment company founded by Chinese people, dedicated to providing low-cost overseas payment services for Chinese cross-border e-commerce sellers. PingPong helps Chinese companies obtain fair overseas trade protection and is the world's first company dedicated to providing global payment services for Chinese cross-border e-commerce sellers.

PingPong has established close cooperation with domestic cross-border export enterprises, and is honored to be the official partner of the China (Hangzhou) Cross-border E-commerce Comprehensive Pilot Zone Management Committee and the strategic partner of the Shanghai Free Trade Zone Cross-border E-commerce Service Platform. In the future, PingPong will create more revenue and value for China's cross-border export e-commerce and help more Chinese companies go global.

In addition to disruptively low fees, PingPong also leads the cross-border e-commerce industry with its security and compliance standards of "bilateral supervision and 100% transparency".

PingPong and its legally established subsidiaries PingPong US, PingPong HK, PingPong EU and PingPong JP are supervised by financial regulatory authorities in their respective regulatory regions and conduct business legally. Domestic funds are handled by domestic third-party payment and cross-border payment institutions that are qualified by the central bank.

Advantages

1. Unrivaled safety

China's first European payment license

Strictly abide by the financial regulations of China, the United States, Europe and Japan

2. An economy beyond imagination

The collection fee rate is capped at 1%

Exclusive offers for big customers

3. Convenience of one-click withdrawal

Support Amazon, Wish, Shopee, Newegg, Cdiscount, eBay, unified management

4. Wholehearted service

The local service team responds quickly and answers all your questions

License information

1. European PI license

The Payment Institution license issued by the Luxembourg CSSF was awarded to PingPong by the Luxembourg Minister of Finance on September 1, 2017.

Granting PingPong a license to operate payment business in the core area of ​​the euro.

2. US MTL license

Money Transmitter License issued by multiple states in the United States.

Grant PingPong the license to conduct fund payment business in the corresponding regions of the United States.

3. Hong Kong MSO license

Money Service Operator License issued by the Hong Kong Customs and Excise Department.

Grant PingPong a license to operate currency exchange and remittance services in Hong Kong.

4. Member of JPSA, Japan

This is a member certification issued by the Japan Payment Service Association.

Product Chronicle

October 2015: Officially connected to Amazon North America site

September 2016: Officially connected to Wish

April 2017: Officially connected to Newegg

July 2017: Amazon Japan launched

October 2017: Amazon Europe launched, followed by the UK

September 2017: Officially launched the Lightyear advance payment product

In October 2017, it officially landed on Amazon Europe

In February 2018, the VAT payment function was launched

March 2018: Fumao’s export tax rebate and VAT payment functions were launched

May 2018: Shopee launched payment collection service on six major sites

In May 2018, it landed on Amazon Australia

August 2018: Officially connected to Cdiscount

December 2018: Supporting payment collection from more than 50 mainstream and emerging cross-border e-commerce platforms around the world

April 2019: Officially connected to Shopify

May 2019: Officially connected to Amazon India

September 2019: Officially connected to Amazon Singapore

In August 2020, PingPong Pay added payment processing and currency exchange services for the UAE currency, the dirham, and in May this year opened access to the fast-growing Middle East and North African markets.

Financing

In November 2015, PingPong received angel round investment.

In August 2016, PingPong Finance completed a US$20 million Series A financing round, with investors including Wofu Fund, a subsidiary of Tsinghua Holdings, and Fidelity Investments' Asian branch, Eight Roads Capital.

In March 2017, PingPong announced the completion of its B1 round of financing led by GF Securities.

In March 2018, PingPong announced the completion of its B3 round of financing led by the Fintech Fund under China International Capital Corporation Limited (CICC). The specific amount and equity information have not yet been disclosed.

References

• 1. Pingpong history: Pingpong official website [reference date 2018-03-27T16:00:00.000Z]
• 2. PingPong Finance completes round A financing, official website domain name is really urgent! : Western Digital [reference date 2016-08-24T16:00:00.000Z]
• 3. Cross-border payment provider PingPong completes B3 round of financing led by CICC: Sina [cited on 2018-03-14T16:00:00.000Z]
• 4. Chinese financial technology companies come from behind to reduce cross-border payment fees to 1%: NetEase [cited on 2016-09-22T16:00:00.000Z]
• 5. PingPong is the first to support payment on Amazon Singapore, supporting Singapore dollars: pingpong official website
• 6. Enterprise qualifications: pingpong official website