Set up your business in Europe/client case
PingPong, a solution “Powered by EBRC” Allowing Chinese merchants to sell their products through e-commerce platforms worldwide is the goal pursued by PingPong. Its technology solution can easily collect payments before sending them cheaply to China. The FinTech company chose Luxembourg and EBRC to deploy its European payment platform.
Earlier this year, Luxembourg welcomed a new FinTech company with a unique position that differentiates it from many other young innovative companies. PingPong was founded in China to serve companies in the Middle Kingdom that wish to sell their products via international e-commerce platforms. “We are here to offer our Chinese customers the opportunity to sell more easily across the world, by relying on an efficient, fast, and accessible payment service”, explains Danielle Kuhn, Chief Operating Officer of PingPong Finance.
NEW BUSINESS OPPORTUNITIES The ambition of this young FinTech company is none other than enabling Chinese stakeholders to improve their trade ties with the world. The stakes are high. China is now one of the largest producers of goods in the world. PingPong wants to allow many Chinese manufacturers to access new markets internationally and sell more easily by facilitating relations and trade ties with their partners. For small and medium-sized businesses, opening a foreign bank account can be complicated. Consequently, trade with the world and ensuring that the fruits of your sales are collected can be a difficult task.
“In this context, we want to enable our customers, established Chinese merchants, to access the global banking system and to have the necessary guarantees to make transactions, adds Holly Flocker, Chief Risk Officer and Head of Legal at PingPong. To achieve this, you need to take into account the Chinese regulation with its numerous specificities, and be able to connect to various international markets which also operate according to established and diverse rules.”
COLLECTING PAYMENTS AND SENDING THEM ON The customers of the technological payment platform implemented by the startup are located in China. The parent company of PingPong is strategically located in Hangzhou, China's e-commerce capital. The FinTech collects payments made abroad before sending them rapidly and simply to its customers. “We now serve tens of thousands of businesses and individual entrepreneurs established in China or Hong Kong”, says Danielle Kuhn. Of course, China did not wait for PingPong to arrive before it started trading with the world. However, from the point of view of the FinTech company, the potential for improvement in trade relations and payment processes
Holly Flocker, Chief Risk Officer and Head of Legal, PingPong
“We want to give our customers the necessary guarantees to confidently make transactions.”
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