i2c Signs Partnership with Chinese Fintech Unicorn PingPong

i2c Inc., a digital payment and banking technology provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term, said on Wednesday that it inked a partnership with PingPong, a China-based fintech unicorn. According to the press release, PingPong will expand its existing commercial credit offering to new regions, specifically Hong Kong SAR and Europe, by leveraging i2c’s SaaS platform.

“We are thrilled to work with such an innovative platform that’s redefining global e-commerce for sellers. By providing an all-in-one payments solution to a massive B2B market, with key differentiators like real-time transactions and significantly lower transaction fees, PingPong is breaking down international business barriers and putting sellers’ needs at the forefront,” Aurangzaib Khan, i2c's General Manager for the MEA region, commented on the announcement.

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Merchants with this product have access to instant payouts, as well as transaction fees as low as 1%, versus the 5% that have historically been charged to international merchants. In this partnership, PingPong will be able to use i2c’s Mastercard and Visa certifications to issue and process cards on the two partners’ card networks in Hong Kong SAR and i2c’s Visa certification to issue and process cards in Europe. Using the PingPong credit card, businesses can transact in 15 currencies, while employees, suppliers and vendors can receive payments in real-time without incurring foreign exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term fees.

“We chose to work with i2c because of their deep global footprint and unmatched experience in digital payments. The partnership provides best-in-class integrated service to our growing portfolio, and through this collaborative expansion we can now cement PingPong’s mission to redefine the digital payment experience for sellers, entrepreneurs and business owners worldwide,” Yu Chen, the Founder and CEO of PingPong, stated.

Recently, i2c Inc. arranged a partnership with Visa to become its fintech processor in the Middle East and North African region (MENA). Fintechs in the region will be able to tap into the combined companies’ digital-first solutions and advanced payment technologies through this arrangement, which takes advantage of Visa’s global network and i2c’s issuing and processing platform.