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Since its inception in 2015,PingPong has been on a mission to help eCommerce sellers keep more of their hard-earned profits.
Today, more than 1,000,000 online merchants trust PingPong to save them money on cross-border payments, VAT payments, supplier payments, and more.
To date, PingPong has processed more than $90 billion for global eCommerce sellers, and we now have more than 600 employees throughout the U.S., Europe and Asia.
Here’s Where it all Started
In August, the soon-to-be founders of PingPong began collecting and preparing the relevant materials needed for applying for American MSB licenses.
In November, the same team negotiated partnership plans with several European and American banks.
In March, PingPong was established in New York, having obtained the necessary FinCEN MSB licenses; a new cross-border collection company that would make history in the payments industry was born.
On June 18, 2015, PingPong’s global Chinese offices were established in Hangzhou. Developers coded the first line of HTML website text the very same day.
In October, PingPong officially launched its platform, compatible with Amazon U.S.
Between October and December, 100 merchants completed cross-border payment services using PingPong’s platform, reaching a monthly transaction volume of 3 million dollars.
In March, PingPong officially enters Amazon Seller Central as a verified payment service provider option.
PingPong China opens a second office location in Shenzhen, China.
PingPong establishes a partnership with Wish.
PingPong Partners with Newegg
PingPong Launches in Japan, becoming compatible with Amazon Japan.
PingPong Launches in Europe, partnering with Amazon E.U.
PingPong obtains its P.I. license (Payment Institution) in Luxembourg.
PingPong launches its VAT Payments feature, making it easier than ever for online merchants to fulfill VAT payment requests
PingPong Partners with Shopee, as well as with Amazon Australia.
PingPong partners with Cdiscount.
PingPong Partners with Shopify.
PingPong establishes an office location in Bangalore, India, launching Global Payment Services for Indian Sellers.
PingPong Partners with Amazon India
PingPong establishes a Vietnam Office in Ho Chi Minh City, Vietnam, launching Global Payment Services for Vietnam Sellers; in the same month, PingPong Partners with Amazon Singapore.
In October, after three years of massive growth, PingPong is named a Unicorn Enterprise, having achieved a valuation of 1 billion U.S. dollars.
The same month, PingPong becomes Rakuten Japan’s official Payment Service Provider for Rakuten merchants.
By the end of December 2019, PingPong’s footprint covers more than 100 countries and regions worldwide, supporting nearly 70 platforms and marketplaces and 1 million service stores.
In October, PingPong’s P.I. license is expanded to an EMI license (Electronic Money Institution) in Luxembourg.
By December 2020, PingPong services than 1 million merchants globally.
In March, PingPong breaks ground at its new Technology Industrial Headquarters in Hangzhou.
In May, PingPong launches its comprehensive Supplier Payment feature.