On Dec. 6, PingPong, a Chinese cross-border payment company, announced that users can make payments in British Pounds. This means that PingPong is now available in the UK, France, Germany, Italy, Spain, the United States, Mexico, Canada and Japan.
PingPong is a global payment company dedicated to providing low-cost overseas payment and collection services for Chinese cross-border e-commerce vendors. PingPong, which helps Chinese companies gain fair trade protection, is the first and only company in the world to provide global collection services specifically for Chinese cross-border e-commerce sellers.
Since its establishment in 2015, PingPong has successfully reached local financial qualification requirements in several overseas countries. Currently, PingPong has partnered with well-known cross-border e-commerce platforms such as Amazon, Wish and Newegg.
Daily sales transmitted through PingPong have surpassed 300 million yuan, and there are more than 50 users whose annual sales number in the billions. PingPong offices are located in Hangzhou, Hong Kong, Shenzhen, San Francisco, Luxembourg, Japan, Britain, and Southeast Asia.
For PingPong, high activity volume is matched by investor support. In August 2016, PingPong received financing from Fidelity and Tsinghua Holdings. In just three months, PingPong oversubscribed Series B funding by more than 10 institutions.
In March 2017, PingPong announced that it had completed Series B1 financing, amounting to hundreds of millions of yuan.