- PingPong is one of the few international payments companies
to obtain a Payment System Service Provider (PJP) licence from Bank
Indonesia, the central bank of the Republic of Indonesia
- The licence will enable PingPong to facilitate
cross-border payments and disbursements, empowering international
enterprises to expand into the world's 4th largest economy, and for
Indonesian businesses to benefit from PingPong's global
footprint
- With more than 1 million customers and over $200 billion USD processed, PingPong is one of
the largest global cross-border payments companies
- This marks more than 60 financial licences awarded to
PingPong, with each licence representing a multi-year process with
government entities to assess the strength and viability of
PingPong. The business has achieved similar milestones in the US,
UK, EU, Singapore and Australia
LONDON, July 31,
2024 /PRNewswire/ -- PingPong, the leading
global cross-border payments platform for enterprises, is pleased
to announce that it has been granted a Payment System Service
Provider (PJP) licence from Bank Indonesia, the central bank of the
Republic of Indonesia. This latest
licence will enable PingPong to facilitate cross-border and
domestic payments for businesses in the region.
With a population of c.280 million, the world's fourth most
populous country has a significant consumer market, with its 2024
GDP expected to reach $1.5 trillion
USD. Its young population, high internet penetration and
large labour force have made it one of the fastest growing
countries in Southeast Asia, and
an increasingly important region for international enterprises
looking to expand their global footprint. For businesses focussing
on international trade, this licence will help them expand and gain
access to the region's $320 billion
USD export market.
David Messenger, CEO of Global
Businesses at PingPong, said "As one of the largest and
fastest growing economies in Southeast
Asia, Indonesia offers an
incredible opportunity for enterprises scaling their operations
globally. This licence enables us to expand our reach and provide
enterprises with end-to-end, one-stop cross-border payment
solutions."
PingPong holds more than 60 payment licences and permits in
the United States, EU, UK,
Hong Kong, mainland China, Canada, Australia, Japan, Singapore, Indonesia, India and other countries and regions around
the world.
About us
PingPong is a global cross-border payments platform and
technology company founded in New York,
USA. The PingPong ecosystem is built on the vision that
empowers cross-border digital commerce to grow. Our one-stop
innovative, secure, compliant and comprehensive suite of products
includes e-commerce payment, B2B trade payment, acquiring service,
card issuing, FX management, supply chain financing and enterprise
solutions. https://www.international.pingpongx.com/
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content:https://www.prnewswire.com/news-releases/pingpong-receives-indonesian-payments-licence-unlocking-the-1-5-trillion-usd-region-for-enterprises-302209878.html
SOURCE PingPong