Bangalore, July 21 2019: Global B2B payment platformPingPong has launched into the Indian market, to provide cross-border payment services for Indian sellers.
At present, the fee rate of payment companies in the Indian market is maintained at more than 2%. PingPong has a 1% fee rate in India, which means that cross-border sellers who use PingPong can save at least half of the service fee during the payment process. PingPong has saved more than $1 billion in service fees for cross-border sellers around the world selling on marketplaces like Amazon, Wish, Cdiscount, Shopee and Rakuten.
PingPong also provides solutions to the problems of slow cash withdrawal and complicated fund management in multi-platform stores. It can facilitate the withdrawal within one working day, which is faster than the industry average. In order to meet the global sales needs of Indian sellers, PingPong will use the strategic partnership with international mainstream e-commerce platforms to introduce Indian sellers to, such as Wish, Cdiscount, Shopee, Rakuten and Shopify to provide Indian sellers with wider sales channels. Only one PingPong account is required and Indian sellers can realize multi-platform and multi-store unified management, and PingPong supports mainstream currencies such as US dollar, British pound, Euro, Canadian dollar, Australian dollar and Japanese yen.
Says Sidharth Prasad, Head of Sales in PingPong: “India is the fastest growing economy in the world and is rapidly entering a new era of digital economy. We are very glad to be rooted in India to break down barriers in e-commerce for local cross-border sellers, minimizing expenditure costs and improving cash flow. At the same time, we can help them receive the payments safely and efficiently. This is what PingPong is best at. In the past four years, we have built a wide network of global cooperative banks as well as a global compliance payment system; we also have obtained the business qualifications of the European Union, the United States, Japan, Hong Kong and other places, serving 250,000 sellers worldwide."