PingPong re re Payments, a repayment company for e-commerce sellers, announced on Wednesday it offers gotten its authorization as a money that is electronic (EMI) by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. Created in 2015, PingPong reported that its mission of assisting e-commerce that is global keep more earnings, by beating the prices conventional banking institutions provide.
“Today, the business acts a lot more than 600,000 online sellers worldwide, has prepared a lot more than ten dollars billion in cross-border payments for ecommerce merchants to-date, and transfers significantly more than $100 million a day for worldwide sellers that are e-commerce. Worldwide merchants round the global world trust PingPong Payments to assist them to save very well cross-border payments, VAT & provider payments, and much more.”
PingPong stated that the permit allows it to provide a far more flexible variety of services while increasing the range of clients as time goes by. Speaing frankly about the permit, Ning Wang , Co-Founder and Chief company Officer at PingPong, reported:
“We are really proud to announce getting an EMI license in Luxembourg , a fintech that is world-renowned and pioneer in the EU market. This may strengthen our existing solutions which could help clients on various market places such as for instance Amazon, e-bay and Walmart and give us the flexibleness to broaden our business design to beyond platforms that are e-commerce. ”
Pierre Gramegna , Minister of Finance, Luxembourg included:
“Today, Luxembourg is just one of the payment that is leading e-money hubs into the EU and I’m very happy to note that it continues to grow. In this sense, We welcome that PingPong has simply upgraded its Luxembourg existence by having a new e-money permit that will assist it better provide its European clients.”