i2c, a provider of digital payment and banking technology, has partnered with PingPong, a China-based FinTech unicorn providing business owners with cross-border e-commerce payment solutions.
Founded in 2015, PingPong is a technology company serving 1 million global business, individuals, large enterprises and financial institutions.
i2c’s proprietary “building block” technology allows clients to easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively.
Leveraging i2c’s agile SaaS platform, the partnership will see PingPong expand its existing commercial credit offering to new regions, specifically Hong Kong SAR and Europe.
The product allows merchants to access instant pay outs, as well as transaction fees as low as 1%, versus the 5% fees that have been historically charged to these international merchants.
The partnership will allow PingPong to utilize i2c’s Visa and Mastercard certifications to both issue and process cards on the two partner card networks in Hong Kong SAR, and i2c’s Visa certification to issue and process in Europe. The PingPong credit card offers transactions in 15 currencies, featuring real-time direct transfers to suppliers, employees and vendors, while also boasting zero foreign exchange fees within the PingPong virtual wallet.
Aurangzaib Khan, i2c general manager – MEA region, said, “By providing an all-in-one payments solution to a massive B2B market, with key differentiators like real-time transactions and significantly lower transaction fees, PingPong is breaking down international business barriers and putting sellers’ needs at the forefront.”
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