PR91284

NEW YORK, Aug. 24, 2021 /PRNewswire/=KYODO JBN/ --

    It is estimated that global eCommerce sales will reach $5 trillion by 2022

and $6 trillion by 2024, according to eMarketer [https://www.emarketer.com/content/worldwide-ecommerce-will-approach-5-trillion-this-year].

    With new COVID-19 variants emerging, some parts of the world are facing

further lockdowns and travel restrictions. As a result, consumers are expected

to maintain their newfound digital spending behaviors, and this means that

sellers now have even more opportunities to grow their businesses and expand

globally.

    In order for suppliers and merchants to keep up with evolving industry

trends, many are looking for international channels to expand.

    PingPong’s Supplier Pay [https://usa.pingpongx.com/supplier-payment]

feature is strategically positioned to enable online merchants and global

suppliers to securely handle their international supply chain transactions and

payments in real-time.

    International supplier payments are traditionally slow and include many

additional – and often hidden - fees for both parties - sending and receiving.

With PingPong, suppliers can avoid the current trend of extended debtor days

and delays awaiting inbound payments. Currently, China suppliers are waiting up

to 92 days for invoices to be paid, while the average for the rest of world has

reached an average of 66 days. Supplier Pay eliminates these types of obstacles

by facilitating instant account-to-account payments in domestic currencies,

positioning both parties to cut out intermediaries and save money on foreign

exchange fees, while avoiding many economic triggers such as inflation and

currency fluctuations.

    Since its inception in 2015, PingPong has processed more than $90 billion

for its global eCommerce customers, and over a million online merchants trust

its platform.

    Across the world, China and the US are currently the biggest online buyers,

with other countries trailing behind. Due to PingPong’s support and expertise

across supplier relations, sellers have valuable access to vetted Chinese and

international suppliers. Sellers are therefore in a good position to negotiate

better rates with their suppliers due to the speed, efficiency, and trust

PingPong provides. It allows suppliers and merchants to manage all of their

global payments and receivables, as well as marketplace repatriation, in one

convenient hub.

    Now, the fintech Unicorn’s comprehensive supplier payment feature is

expanding to Vietnam and India, having seen success in its initial launch in

the US in May of this year, adding to its robust suite of products tailored to

suit customer needs - whether sending or receiving global payments, building

internal process supporting payroll, virtual currency accounts, paying VAT and

much more.  

    Mr. Shui at Yunhong International Trade Company comments: "PingPong has

more than a dozen offices overseas with really great localization services.

With their local team's help, our payments run smoothly with no communication

problems.

    The company is also a brilliant trailblazer in the payments space. PingPong

connects suppliers and buyers, solving payment and information obstacles while

facilitating communication opportunities. Thus, bringing us faster growth in

international business."

    Keith Mander from Yuca LTD comments: "PingPong's platform is ultimately a

self-service product, and I can see my balance, add suppliers and make

immediate payments from a single platform. It is straightforward. A provider

like PingPong makes it more approachable to grow a business internationally.

They remove so many pain points and consolidate all of my needs in one place -

from receiving funds and ensuring competitive rates to secure, on-time payment

delivery to everyone I am doing business with."

   About PingPong Payments

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

eCommerce 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 eCommerce merchants to date, and transfers more

than 150 million per day for international eCommerce 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