PingPong Payments leads the global eCommerce boom
- ByAyushi Ray | August 25, 2021
PingPong Payments Payments leads the global eCommerce boom with their dedicated supplier payments solution. As the new covid -19 variants continue to emerge, and lockdown doesn’t fully go away, people are more and more inclining towards Digital payments applications. PingPongs’s Supplier Pay feature is strategically positioned to enable online merchants and global suppliers to securely handle their international supply chain transactions and payments in real-time. International supplier payments are traditionally slow and include many additional – and often hidden – fees for both parties – sending and receiving. With PingPong, suppliers can avoid the current trend of extended debtor days and delays awaiting inbound payments.
Right now, China suppliers are waiting up to 92 days for invoices to be paid, while the average for the rest of the world has reached an average of 66 days. Supplier Pay eliminates these types of obstacles by facilitating instant account-to-account payments in domestic currencies, positioning both parties to cut out intermediaries and save money on foreign exchange fees, while avoiding many economic triggers such as inflation and currency fluctuations. Since its inception in 2015, PingPong has processed more than $90 billion for its global eCommerce customers, and over a million online merchants trust its platform. Across the world, China and the US are currently the biggest online buyers, with other countries trailing behind. Due to PingPong’s support and expertise across supplier relations, sellers have valuable access to vetted Chinese and international suppliers.
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