PingPong, one of the largest payment companies in Asia, has teamed up with MODIFI, a specialized FinTech platform focusing on B2B cross-border financing and payment solutions.
The partnership between PingPong and MODIFI aims to transform B2B cross-border payments and digital trade finance. Announced at the Singapore FinTech Festival, this collaboration introduces a global B2B Buy Now Pay Later (BNPL) functionality, marking a significant development in the field.
PingPong operates on a vision that empowers cross-border digital commerce to grow. Their comprehensive product suite, including e-commerce payment, B2B trade payment, and more, caters to various aspects of digital commerce.
MODIFI addresses the challenges in cross-border financing with its platform that serves over 1,600 companies across 55+ countries, offering modern digital payment tools and financial liquidity.
The partnership will enable cross-border exporters and merchants to offer BNPL payment options to their B2B customers. This collaboration is a step forward in enhancing the efficiency of business operations and funds liquidity for buyers and sellers. It promises a suite of business solutions that help in managing working capital, navigating risks, and seizing growth opportunities in global markets.
Jianqin Shu, PingPong Global Partner and General Manager of SMB Business Group, said, “Standing at the forefront of the digital commerce era, PingPong will continue to prioritize the evolving needs of cross-border enterprises, enhancing our product capabilities with a primary focus on cross-border payments. The partnership with MODIFI will offer a comprehensive digital payment and finance solution to help more businesses achieve global expansion.”
Matthias Hendrichs, Chief Commercial Officer of MODIFI, stated, “For businesses eyeing global expansion, cross-border financing presents intricate challenges. MODIFI’s mission revolves around simplifying these complexities. Our synergy with PingPong equips us with a formidable mechanism to spearhead global enterprise expansion. Our goal is to offer an end-to-end digital payment and financing solution for businesses engaged in cross-border trade, getting them closer to their global aspirations.”
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