NEW
YORK and VANCOUVER,
BC, March 10, 2025 /PRNewswire/ -- Best Buy
Canada has selected PingPong,
a world-leading provider of cross-border embedded payment
solutions, to become its first cross-border payment service
provider of record on its Marketplace. Leveraging PingPong's
easy-to-integrate API, Best Buy Canada will begin expanding
internationally and facilitate payouts to international
sellers.
By leveraging PingPong's global capability BestBuy Canada will
have the opportunity to unlock new revenue streams and cross-border
operational efficiencies. To date, PingPong has secured over 60
financial licenses worldwide, supports transactions in more than
100 currencies and operates in over 200 countries and regions.
Sherry Zah, Vice President of
Best Buy Canada's Marketplace business said, "Our new
partnership with PingPong is a key part of our international growth
strategy. The integration team at PingPong has facilitated a swift
onboarding process. PingPong's global network and ecosystem will
unlock new revenue streams for us as we look to expand our
marketplace to new international sellers."
Best Buy Canada joins leading marketplaces like Wish and Wayfair
in leveraging PingPong's sophisticated international payments
capabilities. The partnership will increase Gross Merchandise
Volume (GMV), reduce operational overheads, and enhance both the
seller and buyer experience.
"Our work with BestBuy Canada is a testament to our
capability to help businesses scale globally. With hundreds of
thousands of customers using PingPong's ecosystem worldwide, we are
uniquely placed to power cross-border payment services for
enterprises of all sizes. We are excited to work closely with
BestBuy Canada and drive long-term revenue growth for the
business", said Alex Chen,
Vice President, APAC, Head of Global Partnerships.
About PingPong
PingPong was founded in
New York in 2015, with the goal of
solving the immense challenge of scaling enterprise businesses
globally. Fast forward to today, and PingPong has become one of the
world's leading global cross-border payments platforms, processing
more than $250 billion USD. Our
API-first cross-border payments platform integrates with
enterprises to send, manage, and receive money faster on a
global scale.
PingPong currently has 37 offices in 15 countries and over 1,000
employees. Our international presence helps businesses solve
complex payment needs in every major economy across all time
zones.
About Best Buy Canada
A wholly owned subsidiary of
Best Buy Co., Inc. (NYSE:BBY), Best Buy Canada Ltd. is one of
Canada's largest and most
innovative omnichannel retailers, operating the Best Buy, Best Buy
Mobile, Best Buy Express and Geek Squad (www.geeksquad.ca) brands.
With over 320 Best Buy, Best Buy Mobile and Best Buy Express stores
across Canada and an expanded
assortment of lifestyle products offered through BestBuy.ca, Best
Buy is a leader in total retail, catering to customers how, when,
and where they want to shop. Best Buy Canada is committed to making
a positive impact in the community with programs and partnerships
that support youth to connect with technology to advance their
education. For more information, visit BestBuy.ca.
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SOURCE PingPong
