ChinaOverview
PingPong, at a glance.
PingPong is an e-money institution headquartered in China, regulated by Financial Conduct Authority, CSSF, Customs and Excise Department, MAS. The company behind PingPong is PingPong Payment (UK) Limited. Pricing is agreed with each client. Opening an account takes 3–5 days.
PingPong is not a bank, and the terms say its services are not a bank account. PingPong says customer funds are held in segregated accounts with tier-one banking partners; for UK customers the banks are not named. The money is not covered by the Financial Services Compensation Scheme.
Why businesses pick PingPong
- Receiving accounts in your business name with IBANs or local details in 31 currencies, including CNH, IDR, PHP, VND, NGN, KES and MXN
- Collect from marketplaces and from your own customers and partners into the same account
- Convert at a live rate shown before you confirm, with limit orders and no margin needed for them
- Pay suppliers in 25+ currencies, single or in batches by file upload or API
- Multi-currency virtual cards for ad spend, subscriptions and team expenses
- Support in English, Mandarin, Cantonese, French and Japanese
- Receiving accounts are issued 1 to 3 business days after you apply for them
Watch out for
- No prices are published: account, transfer and card fees and the exchange margin are shown only after you log in
- The UK terms say the accounts are only for making and receiving payments, not for storing funds
- Only senders PingPong approves may pay into your receiving accounts, and each platform needs its own receiving account
- Gambling, crypto, crowdfunding, charities, money transmitters and other financial services, adult services and multi-level marketing are on the prohibited list
- No forward contracts are published: the help centre lists only instant conversions and limit orders
Business fit
Will PingPong accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on PingPong's published rules
Needs review
PingPong works with E-commerce Sellers, but does not publish the countries it accepts companies from.
PingPong does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What PingPong publishes about the businesses it takes on.
Who PingPong serves
- E-commerce
- Marketplaces
- Travel
- Import and export
All 8 industries on PingPong's accepted list
- E-commerce Sellers
- Travel
- Marketplace
- Digital Services
- Logistics
- Offline Retail
- Wholesale and Trades
- Cross-border Services
Not supported
Industries and countries PingPong does not accept, from its own published lists.
Industries
- Adult services
- Gambling & Lottery
- Cryptocurrency & Blockchain
- Monetized Game Currency
- Crowdfunding & Donation-based Activities (crowdfunding, fundraising, donation-based activities, charities, non-profit, religious, political organizations)
- Weapons & Defense
- Controlled Substances, Marijuana & CBD
- Intellectual Property Violations
- Financial & Anonymous Services (unlicensed or prohibited financial services, including loans, cash advance services, money transmitters, credit repair services, buy-now-pay-later, debt collection agencies, non-bank lending services, shell banks, anonymous accounts)
- Multi-level Marketing
- Cybercrime & Ransomware
- Animals & Wildlife Products
- Environmental & Hazardous Materials
- Academic Cheating Services
- Speculative and Opaque Social Services (fortune telling, astrology, horoscope consultation, shopping clubs, membership clubs, social associations, fraternities)
- Communication Jamming & Interference
- Other Prohibited Businesses: Digital Non-Financial Products (browser extensions, digital applications); Metaverse Products; Layaway systems and annuities; unlicensed or high-risk health products or treatments; sale of email or direct marketing lists; items or sites that promote hate, violence, or racial intolerance
- Prohibited transactions: money laundering; terrorist financing; processing transactions for another business other than the one listed on the account
Countries
- Not published
Coverage
Where can you use PingPong?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
31 currencies to receive
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- AED
- CNH
- CZK
- DKK
- HKD
- HUF
- IDR
- KES
- KHR
- MXN
- MYR
- NGN
- NOK
- NZD
- PHP
- PLN
- RON
- SAR
- SEK
- SGD
- THB
- TRY
- VND
- ZAR
Payments go out in 25+ currencies; no list of payout currencies is published. Conversion covers 300+ currency pairs.
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Companies, Individuals in business without a registered company
Pricing
What does PingPong cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Not published
Monthly fee
Not published
Business Account
Custom
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| Local transfer from another bank | Not published | Fees are shown only after you log in to your PingPong Account |
| Outgoing | ||
| SWIFT / international | Not published | Payments to suppliers and withdrawals to your own bank account; fees shown after you log in |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published | The live rate is shown on the withdrawal and payment pages before you confirm; no margin is published |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Virtual card issue | Not published | Multi-currency virtual cards; no conversion fee when paying in USD, EUR, GBP, HKD, JPY, CAD, SGD, AUD or CNH |
Forward contracts: Not published
Compare FX providersOnboarding
From application to live account.
Receiving accounts are issued 1 to 3 business days after you apply for them, once your identity verification is approved. Requirements vary by country and account type.
- 1
Create an account
Sign up at global.pingpongx.com with an email, phone number and password, and activate the account by email.
- 2
Set a PIN
Log in and set a 6-digit transaction PIN.
- 3
Verify the business
Choose the country where the business is registered and the account type, complete the business profile, and enter the directors and business owners.
- 4
Receiving accounts
Apply for receiving accounts by payment source, bank location and currency. They are issued 1 to 3 business days after you apply.
Documents you need
- Name, date of birth and address of the people verified
- Government-issued ID: national ID card, passport or driver's licence
- Business profile, with the details of the directors and business owners
- Bank statement or cancelled cheque for each withdrawal account
FAQ
Your questions, answered.
Is PingPong a bank?
No. In the UK, PingPong Payment (UK) Limited is an electronic money institution authorised by the Financial Conduct Authority (FRN 974154). The group's PingPong Europe S.A. is an e-money institution licensed in Luxembourg (W00000014), two group companies are money service operators in Hong Kong, and MANA PAYMENT (SINGAPORE) PTE. LTD. is a major payment institution in Singapore. Customer money is not covered by the FSCS.
Which PingPong company will my company contract with?
It depends on where your company is. UK customers contract with PingPong Payment (UK) Limited, EEA customers with PingPong Europe S.A., North America and India with PingPong Global Solutions Inc., Singapore with Mana Payment (Singapore) Pte. Ltd., Australia and New Zealand with Mana Payment Australia Pty Ltd, and most other countries with Ping Pong Global Holdings Limited in Hong Kong.
How much does PingPong cost?
PingPong publishes no price list for any region. Its terms say all fees are disclosed after you log in to your PingPong Account, and the exchange rate is shown live before each conversion or withdrawal.
Do the receiving accounts carry my company's name?
Yes. PingPong opens receiving accounts in your business name with IBANs or local account and routing numbers, at banks in the currency's country or elsewhere. You need a separate receiving account for each marketplace, and only senders PingPong approves may pay in.
Can I fix an exchange rate for a future payment?
PingPong's help centre lists two FX products: instant conversion and limit orders, which convert at your target rate and need no margin. Single orders go up to about US$1 million. No forward contract terms are published.
Does PingPong accept gambling or crypto businesses?
No. Gambling and lotteries, cryptocurrency and blockchain, monetised game currency, crowdfunding and charities are on PingPong's prohibited list.
Alternatives
How PingPong compares.
If PingPong is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 PingPongThis pageE-money institution |     | Receiving accountsLimit orders |
 WorldFirstE-money institution |  | Marketplace sellersTrade payments |
 PayoneerE-money institution |   | Marketplace payoutsMass payments |
 AirwallexE-money institution |  | Global accountsOnline businesses |
 XTransferMoney service operator | | China tradeReceiving accounts |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.