“Can a Chinese cross-border payments specialist become the global embedded-finance infrastructure provider for marketplaces and enterprises moving money across borders?”
Founded 2015 in New York (HQ'd in Hangzhou) to collect Amazon/Wish/Shopee payouts for Chinese cross-border sellers. Expanded into multi-currency accounts, FX, card issuing, and acquiring, building out 60+ financial licences to operate as a globally regulated payments platform. Now pivoting from merchant-facing services to selling embedded cross-border infrastructure (pay-in, pay-out, FX, card issuing) to enterprises and marketplaces, competing with Airwallex, Nium, and Rapyd.
PingPong discloses PingPong (in-house, multi-licence) as its banking provider, according to the Embedded Finance Index 2026.
PingPong does not disclose a bank charter of its own; its banking services are provided through PingPong (in-house, multi-licence).
PingPong processes payments through PingPong Acquiring (self-operated) and PingPongCheckout (self-operated).
PingPong's cards are issued through PingPong (self_issued, Mastercard network).
PingPong's lending and capital products are provided by Kanmon.
PingPong uses PingPong (self-operated) for FX and cross-border payouts.
PingPong integrates with QuickBooks Online.
The Embedded Finance Index 2026 maps 6 layers in PingPong's stack: Payments / PSP (PingPong Acquiring (self-operated) and PingPongCheckout (self-operated)); Banking / BaaS (PingPong (in-house, multi-licence)); Card issuing (PingPong (self_issued, Mastercard network)); Lending (Kanmon, PingPong Embedded Lending (US, via Kanmon) and Capital advances (€10K–€10M, via Uncapped, EU)); FX & payouts (PingPong (self-operated)); Accounting (QuickBooks Online).
PingPong is founded in 2015 and headquartered in Hangzhou, China (founded in New York, US).
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