-PingPong and MODIFI announce partnership to transform B2B cross-border payments and digital trade finance
SINGAPORE, Nov. 17, 2023 /PRNewswire/ -- In a major development for B2B cross-border payments, FinTech platform MODIFI today announced a global B2B Buy Now Pay Later (BNPL) functionality in collaboration with PingPong, one of the largest platforms Asia payment.
Announced at this year's Singapore FinTech Festival, the collaboration will enable exporters and cross-border merchants to offer BNPL payment options to their B2B customers, helping them accelerate the global expansion of their businesses and increase their revenue.
As the momentum of digitalization of global trade increases, the role of financial services in driving trade growth is increasingly important. Responding to the specific needs of today's cross-border e-commerce and foreign trade sectors, the collaboration between PingPong and MODIFI leverages cutting-edge digital technology along with a robust global payment and bank account financing infrastructure. The result is a dramatic increase in the efficiency of trading operations and the liquidity of funds for both buyers and sellers. Sellers can benefit from the advantage of instant invoice payment, which strengthens their financial liquidity. Meanwhile, buyers enjoy a set of adaptable and flexible payment terms.
Jianqin Shu, PingPong Global Partner and CEO of SMB Business Group, stated, "Standing at the forefront of the digital commerce era, PingPong will continue to prioritize the evolving needs of cross-border businesses, enhancing our product capabilities with a focus on "The partnership with MODIFI will offer a comprehensive digital financing and payment solution to help more businesses achieve global expansion."
Matthias Hendrichs, Chief Commercial Officer at MODIFI, said, "For companies aspiring to expand around the world, cross-border financing poses intricate challenges. MODIFI's mission revolves around simplifying these complexities. Our synergy with PingPong equips us "A formidable mechanism to spearhead the global expansion of businesses. Our goal is to offer an end-to-end digital financing and payment solution for businesses engaged in cross-border commerce, bringing them closer to their global aspirations."
With PingPong's extensive global payments reach in over 200 countries and MODIFI's deep expertise in trade finance, businesses have an unrivaled set of business solutions. This alliance promises companies the tools they need to adjust working capital, skillfully navigate risks and seize growth opportunities in global markets.
PingPong is a leading global technology company and one of the largest payments companies in Asia. The PingPong ecosystem is based on the vision of empowering the growth of cross-border digital commerce. Our comprehensive suite of innovative, secure and compliant products includes e-commerce payments, B2B merchant payments, acquiring services, card issuance, currency management, supply chain finance and enterprise solutions.
MODIFI is a FinTech platform specialized in B2B cross-border financing and payments solutions. The company removes traditional barriers to global trade by equipping businesses with the modern digital payments tools and financial liquidity needed to compete in global trade.
MODIFI's platform serves more than 1,600 companies in more than 55 countries and has a global presence with offices in Shenzhen, Singapore, Hong Kong, Amsterdam, Berlin, New York, Mexico City, Dubai, Mumbai, New Delhi and Dhaka.
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