Global e-commerce sales are estimated to reach $ 5 trillion in 2022 and $ 6 trillion in 2024, according to eMarketer .
Due to the emergence of new variants of COVID-19, some parts of the world are facing new lockdowns and travel restrictions. For this reason, consumers are expected to maintain their newly acquired digital shopping habits, and this means that sellers now have even more opportunities to develop their businesses and expand globally.
In order for vendors and merchants to keep pace with changing industry trends, many are looking to expand international channels.
Functionality Supplier Pay PingPong is strategically developed to offer online traders and global providers a way to control so secure its international operations and payments related to its supply chain in real time.
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Payments to international providers are traditionally slow and involve many other fees to send and receive that are often not known to either party. With PingPong, providers can avoid the current trend of extended billing times and delays in crediting outstanding payments. Currently, Chinese suppliers wait up to 92 days to pay their invoices, while the average for the rest of the world is, on average, 66 days. Supplier Pay removes these types of hurdles by facilitating instant account-to-account payments in local currencies, eliminating the need for intermediaries for both parties, and saving money on currency 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 ecommerce clients around the world, and its platform is trusted by more than a million online merchants.
Across the world, China and the United States are the top online shoppers right now, and the other countries are following suit. Thanks to PingPong’s support and expertise in supplier relationships, sellers gain valuable access to authorized Chinese and international suppliers. Thus, sellers are in a position to negotiate better rates with their providers thanks to the speed, efficiency and confidence that PingPong offers them. It enables vendors and merchants to take care of all their global payments and receivables, as well as market repatriation, in one convenient platform.
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Now, the full payment-to-vendor functionality of the FinTech unicorn will arrive in Vietnam and India , after succeeding in its initial launch in the United States in May of this year, and will add to its excellent portfolio of custom products. needs of its clients, whether it is to send or receive global payments, develop a spreadsheet that supports internal processes, accounts in virtual currencies, VAT payment, among others.
Mr. Shui from Yunhong International Trade Company comments: “PingPong has more than twelve offices around the world and really excellent localization services. With the help of their local team, our payments are easily processed without communication problems.
The company is also an excellent pioneer in the area of payments. PingPong connects suppliers and buyers, removing obstacles related to payment and information, while facilitating communication opportunities. Consequently, it helps us grow faster in international trade. ”
Keith Mander from Yuca LTD comments: “The PingPong platform is ultimately a self-service product, and I can see my balance, add providers, and make immediate payments from a single platform. It’s a simple process. A provider like PingPong helps a business to grow internationally in a simpler way. They remove many obstacles and consolidate all my needs in one place: from receiving funds and guaranteeing competitive rates to making payments on time to all those with whom I do business ”
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