This year, the cross-border e-commerce market is gradually heating up, giving rise to more demand for cross-border payments. According to data released by the General Administration of Customs of China, in the first half of 2023, China's cross-border e-commerce import and export will be 11 trillion yuan, and its first mouth was 821 billion yuan, an increase of 199%。However, at the same time, there are still difficulties in the payment process of cross-border e-commerce "going overseas", such as cumbersome processes and high handling fees. A person from a small and medium-sized foreign trade enterprise said that the emerging cross-border e-commerce format has the characteristics of small batches and large batches of payments. Previously, wire transfers were traditionally relied upon to receive payments. This process usually has a high handling fee, and at the same time, it is prone to delays and a long time cycle, which puts pressure on the capital turnover of some small and medium-sized enterprises such as cross-border e-commerce.
As a global payment platform, Pingpong takes Hangzhou as a starting point and radiates the world - established in the same year as Hangzhou and the country's first cross-border e-commerce comprehensive pilot zone, backed by the Yangtze River Delta, an important window for the country's foreign countries, to continue to promote service innovation, and has established more than 30 local teams and branches around the world, providing cross-border e-commerce sellers and foreign trade enterprises with one-stop cross-border solutions such as receipt, payment, foreign exchange, exchange, management, and SaaS for cross-border e-commerce sellers and foreign trade enterprises going overseas.
In order to help sellers and enterprises "go global" more widely and conveniently, Pingpong continues to build three global networks, namely "a licensed compliance network accounting for nearly 90% of the global GDP market", "a financial cooperation network that deeply connects the world's systemically important banks and 6 major card groups", and "a global ecological partnership network that connects the upstream and downstream of e-commerce platforms, logistics and warehousing, advertising and marketing", and continues to optimize and serve the global development of small and medium-sized enterprises, technology enterprises and financial institutions
For merchants and enterprises who open stores on global e-commerce platforms, build their own independent stations or export through general e-commerce, Pingpong provides one-stop cross-border solutions, covering store opening, product selection, cross-border collection, global acquiring, foreign trade receipt and payment, cash withdrawal, foreign exchange, merchant payment, payment, chain financing and other full-link links, so as to achieve smooth, safe, convenient and low-cost global capital planning and management, and help it greatly reduce the operating costs of global business.