SNAPSHOT: More than 600,000 online sellers rely on PingPong to simplify their global payments and keep more of their hard-earned profits. We’ve processed a staggering US $15 billion in e-commerce sales annually, saving Amazon and other platform sellers $2bn in fees from 2016 -2019.
Is Your Money Safe with PingPong?
When you choose PingPong as your global payment solution it comes with the confidence in knowing that:
- Your funds are held in bank accounts entirely separate from PingPong’s business bank accounts
- As a standard, PingPong is regulated by financial regulators in the countries we are licensed
- Our team is made up of compliance and financial experts with experience and backgrounds from reputable organizations like Citibank and PayPal
- PingPong gives you a platform that allows you to manage your team’s access with fully customizable role-based permissions
Your Money Is Your Money
Our customers’ funds are held in bank accounts entirely separate from PingPong’s business bank accounts.
This is made possible via established partnerships with a network of leading and top financial institutions recognized all over the world – like Citibank and Wells Fargo. Acting as payment processors, our model ensures your funds and marketplace transactions are securely managed from start to finish.
Our business model helps effectively mitigate fraud and money laundering risks. You can confidently withdraw money, pay your suppliers, transfer your funds to another PingPong account at your convenience – and your funds are always secure.
Licensed and Regulated – for Your Peace of Mind
PingPong strictly adheres to financial regulations and guidelines within each country we are licensed and each country where we operate. This applies to our entire organization, from our IT systems to our Know Your Customer (KYC) processes.
Rest assured, we acquire the proper licenses and provide our employees training to protect your marketplace revenue from fraud and money laundering. No third-parties are allowed to access your funds and account information without your permission.
Putting our Money Where our Mouth Is
You’ll be happy to know that PingPong has acquired these licenses:
- The Payment Institution license issued by Luxembourg CSSF and passported the license to other EU members in Europe;
- Money Transmitter Licenses in 40 of the United States;
- The Money Service Operator license issued by the Customs and Excise Department of Hong Kong.
- Type 3 Leveraged Foreign Exchange Trading License issued by the Hong Kong Securities and Futures Commission.
In addition, PingPong is also a
- Registered Foreign Money Service Business in Canada; and
- Member of the Japan Payment Service Association.
These licenses and qualifications strictly abide by the international anti-money laundering conventions, laws and regulations required by the respective regulatory authorities in each locality. Fund security is enforced by local regulatory authorities.
ADDED BONUS: We’ve also established the innovative secure and trusted compliance, KYC (Know Your Customer) and regulatory approval process for China-based sellers so that global marketplaces have more assurance when it comes to merchants’ credibility and compliance.
The World’s Leading Risk Control Engine – What You Don’t See Behind the Scenes
Our compliance and financial institution teams bring years of experience with reputable companies like CitiBank and PayPal. PingPong experts are always working behind the scenes to ensure everything is as it should be. We have a team in place to identify and measure potential risks accordingly – so you don’t have to. It works like this:
Risk Identification: Assess risks based on operating environment, amount, behavior, time and more.
Risk Warning: According to varying risk levels requiring front-end verification, a method is selected to put security measures in place as needed, when needed.
Risk Review: According to different risk levels, we select the audit method: machine audit or human review.
Risk Handling: Identify the source of risk, ensure the security of funds, compatible with user experience.
Multi-User Management – Personalized Internal Control
PingPong gives you a platform that allows you to manage your team’s access with fully customizable role-based permissions, according to the organizational structure of your company.
Assign Super Administrators who have total platform function authorization and can define permissions for additional users.
All permissions for certain users to view all the data needed to provide better decision-making for your company. Like the COO.
Allow your marketing team the permissions to analyze store performance and marketing campaigns.
Grant read only access to e-commerce managers for inbound payments to monitor the performance of each store and country.
Accountants can view and download transaction data for analysis of the accounts.
The finance department can input payments to suppliers and tax authorities for approval by the Director