Did you know?<\/strong><\/h2>\nPingPong is strategically positioned to allow companies to be able to process international suppliers payments in real-time. In China, suppliers wait an average of 92 days or more for invoices to get paid compared to businesses in New Zealand, which wait an average of 43 days; South Africa, Denmark, and Austria also saw substantially shorter invoice payment times. As a seller, this means you incur those costs from suppliers. As suppliers prepare for invoices to be paid 2-3 months from issuance, they have to account for the rising cost of inflation, fx fluctuations, and higher transfer costs to their local currency.<\/p>\n
![\"PingPong](\"https:\/\/www.amzonestep.com\/blog\/wp-content\/uploads\/word-image-45.png\")
<\/p>\n
Below are a few of the benefits Chinese suppliers & customers receive from PingPong<\/p>\n
\n- No cost for inbound transactions<\/li>\n
- Real-time payments, 24\/7<\/li>\n
- Industry-leading rates<\/li>\n
- Building better relationships to grow how they do business<\/li>\n
- Suppliers will get a great benefit as they can streamline the process for payers, avoiding reconciliation and transactional delays<\/li>\n
- Avoid risks associated with currency fluctuations<\/li>\n<\/ul>\n
PAYING SUPPLIERS<\/strong><\/h2>\n![\"PAYING](\"https:\/\/www.amzonestep.com\/blog\/wp-content\/uploads\/word-image-18.jpeg\")
<\/strong><\/p>\nPingPong is more than a simple payments company. They\u2019re more of a multidimensional partner for growth to online merchants, not only via fast and reliable low-cost payment services, but by also helping sellers pay tax authorities (VAT\/GST).<\/p>\n
They also help merchants pay their suppliers<\/a><\/strong> internationally in a way that traditional banks aren\u2019t really able to facilitate.<\/p>\nRead More:-\u00a010 Things You Should Not Be Doing In Amazon Listing Optimization<\/a><\/strong><\/em><\/p>\nBenefits of Paying Your Suppliers with PingPong:<\/strong><\/h2>\n![\"Benefits](\"https:\/\/www.amzonestep.com\/blog\/wp-content\/uploads\/word-image-46.png\")
<\/strong><\/p>\nHere\u2019s a breakdown of how paying your Chinese suppliers works: <\/strong><\/h2>\nPaying suppliers should be as simple as moving money at the click of a button.<\/p>\n
When someone uses PingPong\u2019s platform, they click a button to move money from a to b. There are a lot of things in the background that happens to make sure that process is low-cost and without any issues or delays for your money to arrive to your desired recipient safely and on time.<\/p>\n
The banking technology and infrastructure needed to make that happen is built into their platform. As an end-to-end networks payments company marketplace merchants aren\u2019t the only users the company onboards to their platforms. Suppliers and recipients on the other end also go through a KYC and a vetting process by local teams within that particular country where the supplier is located to eliminate time delays, fraud, scams, and loss.<\/p>\n
Read More:-\u00a0Amazon Buyers Fraud and How to Deal with It<\/a><\/strong><\/em><\/p>\nVIRTUAL WALLET<\/strong><\/h2>\n![\"VIRTUAL](\"https:\/\/www.amzonestep.com\/blog\/wp-content\/uploads\/word-image-19.jpeg\")
<\/strong><\/p>\nA virtual account (make sure you get one that is registered and regulated by reputable financial institutions) eliminates the need for collecting business documents, flying to the country where you want to operate, and applying for a bank account in a different country, with different laws, that might even speak a different first language. Technically, you\u2019re saving time, money, frustration, and potential obstacles that could arise. Win-win.<\/p>\n
Customers universally expect to make online purchases in their native currency denomination. That\u2019s all that they have. Being set up to accept payments<\/strong><\/a> in the foreign currencies where your product is selling provides a seamless user experience to your customer base. Giving you collection options in the region. Never worry about the challenges of moving money between accounts. Instantly move your money between currency accounts at no cost.<\/p>\n![\"pingpong](\"https:\/\/www.amzonestep.com\/blog\/wp-content\/uploads\/word-image-20.jpeg\")
<\/p>\n
Conclusion<\/strong><\/h4>\n
<\/p>\nPAYING SUPPLIERS<\/strong><\/h2>\n<\/strong><\/p>\nPingPong is more than a simple payments company. They\u2019re more of a multidimensional partner for growth to online merchants, not only via fast and reliable low-cost payment services, but by also helping sellers pay tax authorities (VAT\/GST).<\/p>\n
They also help merchants pay their suppliers<\/a><\/strong> internationally in a way that traditional banks aren\u2019t really able to facilitate.<\/p>\nRead More:-\u00a010 Things You Should Not Be Doing In Amazon Listing Optimization<\/a><\/strong><\/em><\/p>\nBenefits of Paying Your Suppliers with PingPong:<\/strong><\/h2>\n<\/strong><\/p>\nHere\u2019s a breakdown of how paying your Chinese suppliers works: <\/strong><\/h2>\nPaying suppliers should be as simple as moving money at the click of a button.<\/p>\n
When someone uses PingPong\u2019s platform, they click a button to move money from a to b. There are a lot of things in the background that happens to make sure that process is low-cost and without any issues or delays for your money to arrive to your desired recipient safely and on time.<\/p>\n
The banking technology and infrastructure needed to make that happen is built into their platform. As an end-to-end networks payments company marketplace merchants aren\u2019t the only users the company onboards to their platforms. Suppliers and recipients on the other end also go through a KYC and a vetting process by local teams within that particular country where the supplier is located to eliminate time delays, fraud, scams, and loss.<\/p>\n
Read More:-\u00a0Amazon Buyers Fraud and How to Deal with It<\/a><\/strong><\/em><\/p>\nVIRTUAL WALLET<\/strong><\/h2>\n<\/strong><\/p>\nA virtual account (make sure you get one that is registered and regulated by reputable financial institutions) eliminates the need for collecting business documents, flying to the country where you want to operate, and applying for a bank account in a different country, with different laws, that might even speak a different first language. Technically, you\u2019re saving time, money, frustration, and potential obstacles that could arise. Win-win.<\/p>\n
Customers universally expect to make online purchases in their native currency denomination. That\u2019s all that they have. Being set up to accept payments<\/strong><\/a> in the foreign currencies where your product is selling provides a seamless user experience to your customer base. Giving you collection options in the region. Never worry about the challenges of moving money between accounts. Instantly move your money between currency accounts at no cost.<\/p>\n<\/p>\n
Conclusion<\/strong><\/h4>\n
<\/strong><\/p>\nPingPong is more than a simple payments company. They\u2019re more of a multidimensional partner for growth to online merchants, not only via fast and reliable low-cost payment services, but by also helping sellers pay tax authorities (VAT\/GST).<\/p>\n
They also help merchants pay their suppliers<\/a><\/strong> internationally in a way that traditional banks aren\u2019t really able to facilitate.<\/p>\n Read More:-\u00a010 Things You Should Not Be Doing In Amazon Listing Optimization<\/a><\/strong><\/em><\/p>\n Paying suppliers should be as simple as moving money at the click of a button.<\/p>\n When someone uses PingPong\u2019s platform, they click a button to move money from a to b. There are a lot of things in the background that happens to make sure that process is low-cost and without any issues or delays for your money to arrive to your desired recipient safely and on time.<\/p>\n The banking technology and infrastructure needed to make that happen is built into their platform. As an end-to-end networks payments company marketplace merchants aren\u2019t the only users the company onboards to their platforms. Suppliers and recipients on the other end also go through a KYC and a vetting process by local teams within that particular country where the supplier is located to eliminate time delays, fraud, scams, and loss.<\/p>\n Read More:-\u00a0Amazon Buyers Fraud and How to Deal with It<\/a><\/strong><\/em><\/p>\n A virtual account (make sure you get one that is registered and regulated by reputable financial institutions) eliminates the need for collecting business documents, flying to the country where you want to operate, and applying for a bank account in a different country, with different laws, that might even speak a different first language. Technically, you\u2019re saving time, money, frustration, and potential obstacles that could arise. Win-win.<\/p>\n Customers universally expect to make online purchases in their native currency denomination. That\u2019s all that they have. Being set up to accept payments<\/strong><\/a> in the foreign currencies where your product is selling provides a seamless user experience to your customer base. Giving you collection options in the region. Never worry about the challenges of moving money between accounts. Instantly move your money between currency accounts at no cost.<\/p>\nBenefits of Paying Your Suppliers with PingPong:<\/strong><\/h2>\n
<\/strong><\/p>\nHere\u2019s a breakdown of how paying your Chinese suppliers works: <\/strong><\/h2>\n
VIRTUAL WALLET<\/strong><\/h2>\n
<\/strong><\/p>\n<\/p>\nConclusion<\/strong><\/h4>\n