PingPong
“Can PingPong become the default cross-border payments and embedded finance infrastructure for global SMBs, marketplaces, and enterprises by combining proprietary licences across 15 countries with a developer-friendly API platform?”
Founded in 2015 as a cross-border payment collection tool for Chinese e-commerce sellers on Amazon, PingPong expanded progressively into a full-stack cross-border payments infrastructure provider with 60+ financial licences across 15 countries. By 2023 it had repositioned as an embedded finance platform targeting enterprises, marketplaces, and SaaS businesses that need to embed pay-in, pay-out, FX, and card-issuing capabilities via API. The company added lending (via Kanmon) and card issuing to move up the value stack, competing with Airwallex and Nium in the B2B cross-border infrastructure layer.