Despite an impending recession in the U.S. due to the coronavirus pandemic, Amazon announced record Q1 record revenues of $75.5 billion – an increase of $59.7 billion (26 percent) from Q1 results a year ago[1] and e-commerce sales overall are on a pace to skyrocket to $6.5 trillion by 2023[2]. While the online seller market continues to see fast growth due to a slowdown in in-store sales, all retailers and goods and services providers will need to both identify new high-growth overseas markets and streamline payments and business operations efficiencies to sustain profits over the long-term.
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Founded in New York in 2015, PingPong Payments has continued to expand their range of payments and business services options to support cross-border expansion and growth of sellers into new markets. PingPong Payments acts as a multi-dimensional growth partner to U.S. merchants and Amazon and online platform sellers by providing fast, real-time and lowest cost payment processing services, including currency conversion across more than 15 currencies, from international buyers and suppliers (FundsGrabr and PayAgo). The company also provides supplier validation/due diligence, cross-border tax and regulations compliance and payments (VATZilla), and market intelligence and sales support services to facilitate hassle-free entry of online sellers into new global markets.
“As a global services provider, our product suite is tailored to supporting cross-border business growth”, said Kenny Tsang, Managing Director, PingPong Payments. “Online sellers are in need of both a payments system and overseas market knowledge and business advice that can help them break into new markets, at speed and at scale. We are the payments and business services provider that can not only help online sellers grow their business, but also expand their sales across borders and help them to remain compliant, in a frictionless and cost-effective way.”
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