It is estimated that global eCommerce sales will reach $5 trillion by 2022 
and $6 trillion by 2024, according to eMarketer [ 
https://www.emarketer.com/content/worldwide-ecommerce-will-approach-5-trillion-this-year]. 


    With new COVID-19 variants emerging, some parts of the world are facing 
further lockdowns and travel restrictions. As a result, consumers are expected 
to maintain their newfound digital spending behaviors, and this means that 
sellers now have even more opportunities to grow their businesses and expand 
globally.

    In order for suppliers and merchants to keep up with evolving industry 
trends, many are looking for international channels to expand. 

    PingPong’s Supplier Pay [https://usa.pingpongx.com/supplier-payment] 
feature is strategically positioned to enable online merchants and global 
suppliers to securely handle their international supply chain transactions and 
payments in real-time. 

    International supplier payments are traditionally slow and include many 
additional – and often hidden - fees for both parties - sending and receiving. 
With PingPong, suppliers can avoid the current trend of extended debtor days 
and delays awaiting inbound payments. Currently, China suppliers are waiting up 
to 92 days for invoices to be paid, while the average for the rest of world has 
reached an average of 66 days. Supplier Pay eliminates these types of obstacles 
by facilitating instant account-to-account payments in domestic currencies, 
positioning both parties to cut out intermediaries and save money on foreign 
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 global eCommerce customers, and over a million online merchants trust 
its platform. 

    Across the world, China and the US are currently the biggest online buyers, 
with other countries trailing behind. Due to PingPong’s support and expertise 
across supplier relations, sellers have valuable access to vetted Chinese and 
international suppliers. Sellers are therefore in a good position to negotiate 
better rates with their suppliers due to the speed, efficiency, and trust 
PingPong provides. It allows suppliers and merchants to manage all of their 
global payments and receivables, as well as marketplace repatriation, in one 
convenient hub.

    Now, the fintech Unicorn’s comprehensive supplier payment feature is 
expanding to Vietnam and India, having seen success in its initial launch in 
the US in May of this year, adding to its robust suite of products tailored to 
suit customer needs - whether sending or receiving global payments, building 
internal process supporting payroll, virtual currency accounts, paying VAT and 
much more.  

    Mr. Shui at Yunhong International Trade Company comments: "PingPong has 
more than a dozen offices overseas with really great localization services. 
With their local team's help, our payments run smoothly with no communication 
problems. 

    The company is also a brilliant trailblazer in the payments space. PingPong 
connects suppliers and buyers, solving payment and information obstacles while 
facilitating communication opportunities. Thus, bringing us faster growth in 
international business."

    Keith Mander from Yuca LTD comments: "PingPong's platform is ultimately a 
self-service product, and I can see my balance, add suppliers and make 
immediate payments from a single platform. It is straightforward. A provider 
like PingPong makes it more approachable to grow a business internationally. 
They remove so many pain points and consolidate all of my needs in one place - 
from receiving funds and ensuring competitive rates to secure, on-time payment 
delivery to everyone I am doing business with."

   About PingPong Payments
   PingPong Payments was founded in 2015 with the mission of helping global 
eCommerce sellers keep more of their profits by beating the rates traditional 
banks offer. Today, the company acts as a multi-dimensional growth partner to 
more than 750,000 online sellers worldwide, has processed more than 90 billion 
in cross-border payments for eCommerce merchants to date, and transfers more 
than 150 million per day for international eCommerce sellers. Global merchants 
around the world trust PingPong Payments to help them save on cross-border 
payments, VAT & supplier payments, and more. PingPong works with reputable 
brands such as Citibank, J.P. Morgan and Wells Fargo that have won licenses to 
operate efficiently and are subject to strong regulatory and supervisory 
frameworks across the U.S., Europe and Asia.

    Source: PingPong Payments