DigitalCFO Newsroom | 12 April 2022
PingPong Payments partner with DTL Sourcing to provide businesses across the world with a trustworthy channel into China for all their sourcing requirements.
Today, PingPong Payments, specialists in cross-border payment, partner with DTL Sourcing, a leading Chinese sourcing company, to provide businesses across the world with a trustworthy channel into China for all their sourcing requirements.
The partnership will leverage DTL’s network of over 500 trusted Chinese manufacturers and PingPong’s extensive buyer base of over 1Million customers, to utilize PingPong’s supplier pay function as a solution for buyers and sellers to send and receive funds locally. This partnership seeks to connect manufacturers and merchants around the world, building trusted business relationships and improving global trade ties.
China’s record breaking export strength has further accelerated this year, as exports grew 16.3 percent year-on-year, to $544.7 billion in the first two months of 2022. Analysts predict this year to be decisive for online businesses, and as increasing numbers of buyers look to China for product sourcing, PingPong’s supplier pay function seeks to support vendors and manufacturers by executing real-time payment to over 170 countries.
Managing Director of PingPong Payments, Kenny Tsang, comments: “By boosting lucrative access to sellers in China, this partnership allows our vast buyer base to diversify their supply chain with better capital controls through instant localized payments. Helping reduce cost of goods resulting from inflation, FX costs passed down from suppliers and currency fluctuations.”
Kenny continues: “The move will support Chinese manufacturers in receiving funds in real time and in their local currency, providing a secure and real-time payments infrastructure which is essential to supply chain efficiency and business prosperity. Additionally, expanding opportunities for North American buyers to build better relationships with suppliers and faster time of production when it comes to purchasing their products abroad.”
Founder and Director of DTL Sourcing, Flavien Serra, remarks on the partnership: “Our association with PingPong Payments brings market leading payments solutions to hundreds of Chinese sellers looking to expand their operations internationally. Since 2008, DTL has made our clients a priority, and with this partnership, our Chinese suppliers can produce and export quality products to PingPong’s buyers.”