Fintech Company PingPong Makes 100 Million Euro Investment in Luxembourg.

PingPong, a global payment network for online sellers, recently announced a $113 million investment in Luxembourg. to expand financial services for marketplace sellers, including Amazon EU.

San Mateo, United States - September 17, 2019 /PressCable/ —

PingPong, a global payment network for online sellers, recently announced a €100 million ($113 million) investment in Luxembourg. The investment will be focused on expanding financial services for marketplace sellers, including Amazon EU and Cdiscount.

“Increasing our investment in Luxembourg was the next natural step in advancing capabilities for European online sellers to send and receive global payments more safely and affordably,” explained Karen Li, managing director of PingPong U.S. “There are exciting advancements coming for both new marketplace sellers and more established sellers with the Luxembourg investment.”

For the ecommerce community, Europe represents one of the world’s largest and most profitable markets. Germany is the second-highest selling Amazon marketplace after the U.S. with nearly 20 billion dollars in annual sales, Amazon UK ranks next after Germany with 14.5 billion in annual sales.

“As the ranks of successful entrepreneurs grow and it becomes more feasible for product sellers to expand globally, we’re excited that PingPong is investing in Europe,” said Tim Jordan, executive strategist, PingPong. “This initiative is a great way for PingPong to help facilitate the opportunities for businesses to grow in this region.”

PingPong’s investment in Luxembourg is in step with other multinational companies who have set up operations in the country. The European nation is home to a stable economic and political environment known for welcoming global enterprise.

PingPong has been invested in Luxembourg since 2017, when they became a licensed Payments Institution with the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. PingPong’s payment license authorizes them to execute payments and conduct remittances originating from countries throughout the EU.

About PingPong

PingPong has been on a mission to empower ecommerce sellers to expand their businesses internationally since 2015. Today, more than 43,000 e-commerce merchants around the world trust PingPong to help them keep more of their hard-earned profits when sending and receiving cross-border payments, VAT payments, GST payments, supplier payments, and more. PingPong has more than 400 employees in offices across Europe, the U.S., and Asia.

Contact Info:
Name: Tim Jordan
Email: Send Email
Organization: PingPong Payments
Address: 1510 Fashion Island Blvd. Suite 250, San Mateo, California 94404, United States
Website: https://pingpongpayments.com

Source: PressCable

Release ID: 88918971

More News From Daily Xtreme

Nadal to open in ATP Cup in Perth; Djokovic on east coast

Oct 19, 2019

SYDNEY — U.S. Open champion Rafael Nadal will start his 2020 season on the opposite side of Australia to Novak Djokovic and Roger Federer when he leads Spain in a group-stage qualifier in the new ATP Cup team competition. Spain was drawn into Group B with Japan and Georgia and will play in Perth on Australia's west coast, where the U.S. team, Daniil Medvedev's Russia team and Italy will also be competing in Group D. Nadal collected his 19th major title, moving within one of Federer's record for men, when he held off Medvedev 7-5, 6-3, 5-7, 4-6, 6-4 in...

New Zealand thrashes Australia 36-0 to retain Bledisloe Cup

Oct 19, 2019

AUCKLAND, New Zealand — An All Blacks team chastened by a record-breaking defeat a week ago rallied superbly to beat Australia 36-0 in the return test Saturday and extended its 17-year hold on the Bledisloe Cup and a 33-year winning streak at Eden Park. The Wallabies won the first test of the two-match series 47-26 in Perth last weekend, posting their highest-ever score against New Zealand in Australia and exposing a range of weaknesses in an All Blacks team which will defend the World Cup in Japan from next month. New Zealand head coach Steve Hansen responded with six changes...

Brian Lochore, All Blacks captain and coach, dies at 78

Oct 19, 2019

WELLINGTON, New Zealand — Brian Lochore, who captained the "greatest" All Blacks team of 1967 and went on to coach New Zealand to the inaugural Rugby World Cup title in 1987, has died. He was 78. Lochore was being treated for bowel cancer. His oldest son David Lochore said he died peacefully at home on Saturday. "To those from around New Zealand and the world who have sent messages, these have been enjoyed by our Dad and appreciated by us all," David Lochore said in a statement. "Dad led a life that was full and one which he was very...

Nerveless Verstappen excels in the rain; Mercedes struggles

Oct 19, 2019

HOCKENHEIM, Germany — The wetter and wilder the German Grand Prix became, the more it suited Max Verstappen's nerveless driving. The 21-year-old Red Bull driver's brilliant performance came alongside a rare collapse from Mercedes. Verstappen mastered Sunday's treacherous conditions on a rain-soaked track to seal a second win in three races, and seventh of a career which appears destined to take the ice-cool Dutchman to the top of Formula One before too long. Verstappen raised his fist triumphantly as he took the checkered flag at the Hockenheimring, finishing ahead of Ferrari's Sebastian Vettel and Toro Rosso's Daniil Kvyat. A jubilant...

Leali'ifano leads Wallabies to 16-10 win over Argentina

Oct 19, 2019

BRISBANE, Australia — Flyhalf Christian Leali'ifano, playing his first test in more than three years for Australia after recovering from leukemia, kicked three penalties and a conversion in the Wallabies' 16-10 win over Argentina in a Rugby Championship match Saturday. Leali'ifano played the last of his 19 tests in June 2016, two months before he was diagnosed with leukemia. He recovered after intensive treatment to rejoin the Canberra-based Brumbies in Super Rugby late in the 2017 season. It was just Australia's fifth win from its past 17 test matches. Center Reece Hodge scored a first-half try to help Australia to...

NHL Livescore