NEW YORK, March 31, 2022 /PRNewswire/ -- FinTech unicorn ($2bn) PingPong Payments, specialists in cross-border payments solutions, has partnered with India Sourcing Network (ISN), to make borderless e-commerce possible by helping Indian sellers receive funds from their international buyers. The move will bring greater opportunities for U.S. buyers and Indian sellers, by leveraging PingPong's same-day payments service to create faster payment corridors and enable more competitive pricing, addressing end-to-end sourcing and payments needs for small and medium-sized businesses.
The global retail e-commerce market is predicted to grow by 12.7% to $5.5 trillion this year, signaling an unprecedented opportunity for U.S. sellers to win new online custom. And today, as product suppliers become tired of the slow invoicing and unnecessary fees associated with traditional banking methods, PingPong's all-in-one platform simplifies the payments process through integrated automation. By partnering with India Sourcing Network, Indian sellers can receive funds in real-time, in their domestic currency, and build trusted business relationships with global sellers.
Kenny Tsang, Managing Director of PingPong Payments comments: "Companies like India Sourcing Network are thriving, thanks to the benefits brought about by an increased demand in cross-border payments. PingPong's partnership with ISN offers Indian suppliers and global sellers competitive pricing options, by leveraging PingPong's same-day payments system to solve the sourcing and supplying needs of tomorrow."
Kenny continues: "In a rapidly moving e-commerce world, with new business models emerging daily, PingPong is constantly innovating to keep pace with the global expansion of these fast-growing supplier networks. By utilizing India Sourcing Network's supplier base, U.S. sellers can receive tailored offerings from suppliers and find alternative trade opportunities to those destinations experiencing ongoing shipping delays."
Meghla Bhardwaj, co-founder of India Sourcing Network, comments: "ISN's partnership with PingPong means that Indian sellers can expand their offering globally, securing quick and seamless access to funds from U.S. businesses looking to buy internationally."
Meghla concludes: "We are looking forward to a productive partnership with PingPong, expanding the consumer market of Indian goods across borders, thanks to PingPong's extensive customer base."
About PingPong Payments
PingPong Payments was founded in 2015 with the mission of helping global e-commerce sellers keep more of their profits, by beating the rates traditional banks offer. The company acts as a multi-dimensional growth partner to more than 1,000,000 online sellers worldwide: it has processed more than $90 billion in cross-border payments for e-commerce merchants to date, and transfers more than $150 million per day on behalf of international e-commerce sellers. Global merchants around the world trust PingPong Payments to help them save on cross-border payments, VAT and supplier payments, and more. PingPong works with reputable brands such as Citibank, J.P. Morgan and Wells Fargo that have won licenses to operate efficiently and are being subject to strong regulatory and supervisory frameworks across the U.S., Europe and Asia.
About India Sourcing Network
India Sourcing Network (ISN) makes it easy for global ecommerce sellers and retailers to source products from India for their brands. ISN is an eco-system that provides importers everything they need to source high-quality products from India effectively and profitably.
ISN's vetted manufacturer-exporters and trusted service providers enable brands to buy customized products with confidence. ISN also conducts exclusive Workshops and Masterminds to help online sellers learn India sourcing best practices and make the right business decisions.
In addition, ISN hosts a unique and first-of-its-kind 8-day sourcing tour. India Sourcing Trip is held twice a year, and is a Learning, Sourcing, and Cultural guided tour for international ecommerce sellers.
Advertisements