PINGPONG: WHY THIS CLOSED-LOOP ECOSYSTEM IS A GAME-CHANGER With a global network of licences and key strategic partners, PingPong is changing the way enterprises navigate and scale cross-border payments.
Despite $8 trillion moving around the world daily, many global businesses still face the challenge of sending consistent cross-border payments. Outdated, delayed, and expensive processes remain a significant challenge, resulting in lost opportunities and increased costs. In 2020 alone, global corporations incurred approximately $120 billion in
transaction charges, excluding FX charges. A recent study found that 14 per cent of all cross-border payments are never completed. And for the ones that do settle, they take more than 2-3 days to process – which can feel like a lifetime for businesses moving at light speed. While these hurdles have historically been accepted as ‘status quo’, in today’s
world they are no longer acceptable. Fintech companies like PingPong are building ecosystems where businesses can easily send and receive money instantly and internationally. Since launching in 2015, PingPong’s relentless focus has been to make cross-border payments effortless. Earlier years focused on simplifying processes for e-commerce buyers and sellers
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THE PAYMENTS POWER 50
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