PingPong Obtained Australian Financial Services License ("AFSL")

New York, New York--(Newsfile Corp. - March 30, 2023) - PingPong Payments ("PingPong"), a leading global payment platform, obtained the Australian Financial Services License ("AFSL") from the Australian Securities and Investment Commission ("ASIC"). This license qualifies PingPong to offer non-cash payments and forex services in Australia, adding to its already substantial list of operating licenses globally.

To date, PingPong has received an AFSL issued by the ASIC in Australia, a MSB by FINTRAC in Canada, a MSB by FinCEN and multiple MTLs by individual states in the US, an EMI by Luxembourg in Europe, a MSO by Hong Kong Customs, a LFETL by the Hong Kong Securities Regulatory Commission, a JPSA membership certification in Japan, and an OPGSP in India, among others. The established network and sophisticated compliance practices in major and emerging global economies allows PingPong to assist digital trade coverage in more than 200 countries and regions around the world.

With the recent receipt of the AFSL, PingPong's customers can enjoy a significantly streamlined cross-border payment solution, with practices strictly-compliant with local regulations and seamless transactions.

In addition to the global license footprints, the ecosystem for the global payment services provided by PingPong includes six major international card organizations, in order to provide the top financial networks to customers globally. In addition to common cooperations such as channels and settlement, PingPong has also established deeper cooperative relationships with banks to jointly develop products and expand markets, enabling users to achieve global payment capability and safety.

Ping Pong CEO, Chen Yu, further emphasized, "In the future, PingPong, as one of the ecosystem partners under the trade digitization and enterprise globalization, will align the globalization advancement of cross-border e-Commerce, small and medium-sized foreign trade enterprises, technology enterprises, and other users, and accelerate the realization of compliance on the international trade value-chain and ensure that customers are provided with safe, reliable, and efficient one-stop global payment services."

About PingPong

PingPong, a leading global payment platform, specialized in providing global payment platform and enterprise solutions for digital trade and technology enterprises. PingPong offers digital trade and technology enterprises safe, reliable, and efficient one-stop global payment services. The Company also maintains long-term and stable partnerships with over 100 e-commerce platforms. As of the end of 2022, PingPong has accommodated business flows from over 200 countries/regions, serving over one million cross-border sellers. The Total Payment Volume (TPV) as of that date had reached nearly US$100 billion.

For further information, please visit:usa.pingpongx.comHong Yuhanpr@pingpongx.com^[1][2]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160544^[3]

References

1. ^{^} usa.pingpongx.com (api.newsfilecorp.com)
2. ^{^} pr@pingpongx.com (www.newsfilecorp.com)
3. ^{^} https://www.newsfilecorp.com/release/160544 (api.newsfilecorp.com)