PR89951

NEW YORK, June 8, 2021 /PRNewswire=KYODO JBN/ --

    - FinTech unicorn PingPong Payments now enables marketplace sellers, SMBs &

larger enterprise traders to access Europe's hottest markets through expanded

currency capabilities

    Global payments and e-commerce services provider PingPong Payments, today

announces expanded payments processing and currency exchange services for both

the Polish (PLN) and Swedish (SEK) currencies, allowing access to these growing

markets for U.S. and international products and services sellers.

    Both PLN and SEK are the latest currencies to be added to PingPong

Payments' global payments solutions, which now offers merchants and online

sellers, over Amazon and other platforms, the most currency conversion service

options and widest international market access for payments transactions.

PingPong Payments is currently the only Amazon Payment Service Provider that

offers the Polish currency.

    Sweden and Poland are two of Europe's fastest-growing e-commerce markets.

Poland has seen unprecedented growth in online sales due to Covid-19, with

nearly 80 percent [

https://ecommercenews.eu/ecommerce-in-poland-breaks-records/#:~:text=Polish%20ecommerce%3A%20almost%2022%20billion%20euros%20in%202020&text=Currently%2C%20nearly%2080%20percent%20of,to%20almost%2022%20billion%20euros.

] of internet users in Poland making online purchases. Leading Polish

e-commerce platform Allegro reports that 20m clients visit its website every

month. Similarly, in Sweden, revenue in the e-commerce market amounted to

US$11,211m [https://www.statista.com/outlook/dmo/ecommerce/sweden] in 2020 and

is expected to grow by 5.2% annually, resulting in a market volume of

US$13,729m by 2024.

   Kenny Tsang, Managing Director at PingPong [https://pingpongpayments.com/]

Payments, comments: "During a year that saw many traditional businesses

disrupted by Covid-19, PingPong has been able to successfully support a surging

e-commerce market and achieve global growth. Our ability to now offer both

Polish and Swedish currency exchange services will provide U.S. and

international merchants with access to two of the fastest-growing, richest

e-commerce markets in Europe."

    With the addition of PLN and SEK currency conversion services, PingPong

Payments now offers marketplace sellers in the U.S. and other geographies

support with: the U.S dollar (USD), Canadian dollar (CAD), Australian dollar

(AUD), Japanese yen (JPY), Arab Emirates dollar (AED), Euro (EUR), British

pound (GBP), Chinese yuan (CNH), Hong Kong dollar (HKD) and Singapore dollar

(SGD).  

    In addition to cross-border payments

[https://pingpongpayments.com/cross-border-payments/] processing and currency

exchange services, PingPong Payments supports U.S. and international seller

growth in overseas markets via additional services including lending, payroll

and virtual account solutions. This includes tax and customs registration,

supplier validation and payment, market intelligence, and marketing and sales

support services.

    Kenny continues: "Our innovative payment services have enabled us to become

the chosen multidimensional partner of growth to hundreds of thousands of

professional sellers, who wish to expand sales internationally. We support our

merchants in a way the banking system was not built to, by beating traditional

rates and reducing cross-border payment friction through our unique virtual

accounts, which mitigate anti money laundering challenges."

    Kenny concludes: "Merchants should be strengthening their supply chains for

year-round international sales instead of waiting for peak seasons. By

partnering with the right network of cross-border payment services, e-commerce

merchants can instantly collect, convert and transfer money from all corners of

the world, and set their sights on global domination post pandemic. We save

cross-border merchants both time and money through innovative services such as

VAT processing and opening local bank accounts – allowing them to keep more of

their hard-earned profits."

   About PingPong Payments

   PingPong Payments was founded in 2015 with the mission of helping global

e-commerce sellers keep more of their profits by beating the rates traditional

banks offer. Today, the company acts as a multi-dimensional growth partner to

more than 750,000 online sellers worldwide, has processed more than 90 billion

in cross-border payments for e-commerce merchants to-date, and transfers more

than 150 million per day for international e-commerce sellers. Global merchants

around the world trust PingPong Payments to help them save on cross-border

payments, VAT & supplier payments, and more. PingPong works with reputable

brands such as Citibank, J.P. Morgan and Wells Fargo that have won licenses to

operate efficiently and are subject to strong regulatory and supervisory

frameworks across the U.S., Europe and Asia.

   Source: PingPong Payments