Awesome! PingPong plans to be listed on GEM!

Recently, I received a calendar gift box from PingPong . When I opened it, I was pleasantly surprised. The red color scheme also perfectly fits the upcoming Spring Festival atmosphere.

Of course, it is not only the calendar that is hot, but also PingPong's recent rapid development momentum. According to reports, China's cross-border payment company PingPong plans to apply for listing on the Shenzhen Stock Exchange's Growth Enterprise Market.

PingPong was founded on June 18, 2015, and its headquarters is located in Hangzhou, Zhejiang. Since its establishment, PingPong has launched a number of products and services that benefit Chinese cross-border sellers, including cross-border payment, Lightyear, Fumao, and VAT services.

Among them, the cross-border payment service launched by the company is mainly aimed at merchants on various e-commerce platforms, application and game developers, independent site merchants, business travel, education, advertising, and logistics industry institutions.

PingPong is the largest cross-border payment service provider in China with the widest service scope. Its business covers more than 100 countries and regions. It is worth mentioning that PingPong holds payment licenses in the United States, Europe, Japan, Hong Kong and other business areas, and the platform has more than 10 global branches . It is an official partner of many mainstream platforms such as Amazon, Wish, and Newegg.

PingPong also has impressive performance. It is reported that the company processed RMB 100 billion in funds in 2019, with its payment method mainly being small and high-frequency. In March of the same year, it became a unicorn company with a valuation of more than US$1 billion. In the first half of 2020, it still reached the same scale as in 2019.

PingPong also has many advantages in risk control and fund settlement. In terms of risk control, PingPong has mastered the world's leading risk control solutions; in terms of fund settlement, PingPong adopts a unified remittance settlement model, accepting multiple currencies such as US dollars, British pounds, euros, and Japanese yen.

So how did PingPong open up the international market?

1. Adjustment of rates

As early as 2015, the emergence of PingPong broke the monopoly of overseas payment giants, prompting the entire industry to reduce costs by 70%, and the T+0 withdrawal standard improved the turnover rate of funds in the entire industry.

2. Catering to cross-border industry trends

Previously, PingPong partner Luo Yonglong stated that the cross-border industry after the epidemic will change: online shopping will become a long-term global consumption habit, more countries and markets will open to Chinese shops, and cross-border payments will develop in a healthy and benign direction.

3. Gaining support from multiple capitals

It is reported that PingPong received hundreds of millions of yuan in Series C financing from Huarui Investment as early as September 2018. On February 28, 2019, PingPong continued to receive investments from Huarui Investment, CBC Broadband Capital, Cybernaut Investment, Owling Investment, Pro Capital and other capitals.

There is no doubt that PingPong will promote the cross-border payment industry to develop in a healthier and more compliant direction. And with the help of PingPong, sellers can continue to export Chinese-made products and enhance the influence of Chinese brands.

Compiled from: IPO Early Knowledge