PingPong receives Indonesian payments licence, unlocking the $1.5 trillion USD region for enterprises

• PingPong is one of the few international payments companies to obtain a Payment System Service Provider (PJP) licence from Bank Indonesia, the central bank of the Republic of Indonesia
• The licence will enable PingPong to facilitate cross-border payments and disbursements, empowering international enterprises to expand into the world's 4th largest economy, and for Indonesian businesses to benefit from PingPong's global footprint
• With more than 1 million customers and over $200 billion USD processed, PingPong is one of the largest global cross-border payments companies
• This marks more than 60 financial licences awarded to PingPong, with each licence representing a multi-year process with government entities to assess the strength and viability of PingPong. The business has achieved similar milestones in the US, UK, EU, Singapore and Australia

LONDON, July 31, 2024 /PRNewswire/ -- PingPong, the leading global cross-border payments platform for enterprises, is pleased to announce that it has been granted a Payment System Service Provider (PJP) licence from Bank Indonesia, the central bank of the Republic of Indonesia. This latest licence will enable PingPong to facilitate cross-border and domestic payments for businesses in the region.

With a population of c.280 million, the world's fourth most populous country has a significant consumer market, with its 2024 GDP expected to reach $1.5 trillion USD. Its young population, high internet penetration and large labour force have made it one of the fastest growing countries in Southeast Asia, and an increasingly important region for international enterprises looking to expand their global footprint. For businesses focussing on international trade, this licence will help them expand and gain access to the region's $320 billion USD export market.

David Messenger, CEO of Global Businesses at PingPong, said "As one of the largest and fastest growing economies in Southeast Asia, Indonesia offers an incredible opportunity for enterprises scaling their operations globally. This licence enables us to expand our reach and provide enterprises with end-to-end, one-stop cross-border payment solutions."

PingPong holds more than 60 payment licences and permits in the United States, EU, UK, Hong Kong, mainland China, Canada, Australia, Japan, Singapore, Indonesia, India and other countries and regions around the world.

About us

PingPong is a global cross-border payments platform and technology company founded in New York, USA. The PingPong ecosystem is built on the vision that empowers cross-border digital commerce to grow. Our one-stop innovative, secure, compliant and comprehensive suite of products includes e-commerce payment, B2B trade payment, acquiring service, card issuing, FX management, supply chain financing and enterprise solutions. https://www.international.pingpongx.com/