Payment Service Provider PingPong Payments Secures E-Money License in Luxembourg

Payment Service Provider PingPong Payments Secures E-Money License in Luxembourg

PingPong Payments, a repayment supplier for e-commerce sellers, announced on Wednesday this has gotten its authorization being A electronic cash organization (EMI) by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. Created in 2015, PingPong reported that its objective of assisting global ecommerce vendors keep more profits, by beating the prices conventional banking institutions provide.

“Today, the business acts significantly more than 600,000 online sellers worldwide, has prepared a lot more than ten dollars billion in cross-border re re re payments for e-commerce merchants to-date, and transfers significantly more than $100 million a day for worldwide e-commerce vendors. International merchants round the world trust PingPong Payments to greatly help them save well on cross-border payments, VAT & provider re re payments, and much more.”

PingPong reported that the permit allows it to provide a far more array that is flexible of while increasing the range of clients as time goes on. Speaing frankly about the permit, Ning Wang , Co-Founder and Chief company Officer at PingPong, reported:

“We are incredibly proud to announce getting an EMI permit in Luxembourg , a fintech that is world-renowned and pioneer in the EU market. This may strengthen our existing solutions which could help clients on different market places such as for instance Amazon, e-bay and Walmart and give us the flexibleness to broaden our business design to beyond e-commerce platforms. ”

Pierre Gramegna , Minister of Finance, Luxembourg included:

“Today, Luxembourg is amongst the payment that is leading e-money hubs into the EU and I’m thrilled to observe that it is growing. In this feeling, We welcome that PingPong has simply upgraded a new e-money license to its Luxembourg presence which will help it better provide its European clients.”

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