PingPong Analysis
What is PingPong?
PingPong Payments operates a cross-border payments platform for moving, receiving, and managing money internationally through API access. The company reports $300 billion in cumulative TPV, 35 offices across 15 countries, and support for 200 plus countries and regions. Its trust and compliance materials list more than 60 financial licences, SOC 2 Type 1 certification, and tier-1 banking partners.
Location
78 Cannon Place, London, England, EC4N 6HL, United Kingdom
Employees
1001-5000
Founded
2015
Revenue
$210.1M - $750M
Business Model
Simplifies cross-border payments, monetizes through transactional and FX fees.
Company Stage
Series B
YC Batch
W21
Product Features & Capabilities
- Local accounts, Payout capabilities, Multi-currency wallet, KYC checks, Accept card payments in 50+ currencies, Local payouts to 40+ countries, Global network for transfers to 195 countries, Autorouting for payment flows, Volume discounts on FX.
Pricing
- Free Plan: No monthly fee, allows basic usage.
- Standard Plan: Less than 1% all-inclusive fees for international payments.
- Custom Enterprise Plans: Start at $1499/month, includes SLA and audit trails.
Who are the founders of PingPong
DM
YC
Yu Chen
Founder & CEO
Competitors Overview
PingPong Global Solutions operates in the cross-border payments market, where it faces competition from several notable companies. The main competitors include:
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Payoneer: A leading platform for cross-border payments, Payoneer offers services that empower businesses to send and receive payments globally. It is known for its strong focus on small and medium-sized enterprises (SMEs) and freelancers, providing them with a user-friendly interface and competitive fees. Payoneer also has a robust network of partners, which enhances its service offerings.
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Wise (formerly TransferWise): Wise is renowned for its transparent fee structure and real exchange rate, making it a popular choice for individuals and businesses looking to send money internationally. Unlike traditional banks, Wise focuses on minimizing costs and providing a straightforward user experience, which can be a significant advantage over PingPong.
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Revolut: This fintech company offers a wide range of financial services, including cross-border payments. Revolut is particularly appealing to tech-savvy users due to its mobile app and additional features like cryptocurrency trading and budgeting tools. Its competitive exchange rates and no hidden fees make it a strong contender in the market.
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Stripe: While primarily known for its payment processing services, Stripe also offers cross-border payment solutions. Its integration capabilities with various e-commerce platforms and a strong developer focus provide it with a unique advantage, especially for online businesses.
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PayPal: A well-established player in the payments industry, PayPal offers cross-border payment services that are widely recognized and trusted. Its extensive user base and brand recognition provide it with a competitive edge, although its fees can be higher compared to newer entrants like PingPong.
Notable differences and advantages of these competitors include their unique service offerings, fee structures, and target markets, which can influence customer choice in the cross-border payments landscape.
Investors
- Zhejiang Huarui Investment Holdings
- Ocean Link
- CICC
- GF Xinde Investment Management
- Eight Roads Ventures
Market Focus
PingPong primarily focuses on the cross-border payments industry, enabling companies to send, receive, and manage money globally with an emphasis on compliance and efficiency.
Company Pricing
- Free Plan: No monthly fee, allows basic usage.
- Standard Plan: Less than 1% all-inclusive fees for international payments.
- Custom Enterprise Plans: Start at $1499/month, includes SLA and audit trails.
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