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Alexander Hamilton Awards

Streamlined Repatriation of Cash Around the World

Congratulations to PingPong for winning the 2019 Bronze Alexander Hamilton Award in the category Best Practices in Restricted/Emerging Markets.

PingPong Global Solutions is a start-up financial services company for the digital economy. Founded in New York City in 2015, the company provides cross-border funds transfers to support global sales via online marketplaces by merchants based in any of 10 countries, including China, India, the United States, Canada, the United Kingdom, and Australia.

“Our core product is a cross-border revenue-collection service for e-commerce merchants,” explains Karen Li, managing director/CEO of PingPong’s U.S. office. “Online marketplaces that enable third parties to sell on their platform typically collect payment from the consumers, but then pay the third-party sellers in the country and currency where the marketplace is located. We help the sellers collect from foreign marketplaces and repatriate their funds back to their home country.”

Li offers the example of a U.S. company selling on Amazon UK: PingPong would help the American business collect what it was owed, in British pounds (GBP), then convert funds into U.S. dollars and bring them back to the United States. PingPong would also give the company the option to retain some of those funds in a GBP-denominated account.

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Meg Waters

Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.

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