PingPong Payments is targeting Sweden and Poland, two of Europe’s fastest-growing e-commerce markets.
The New York-based global payments and e-commerce services provider has expanded payments processing and currency exchange services for the Polish (PLN) and Swedish (SEK) currencies.
The company says this allows access to these growing markets for US and international products and services sellers.
PingPong told NextMoney that Poland has seen unprecedented growth in online sales due to Covid-19, with nearly 80% of internet users making online purchases. Leading Polish e-commerce platform Allegro reports that 20m clients visit its website every month.
In Sweden, revenue in the e-commerce market amounted to US$11,211m in 2020 and is expected to grow by 5.2% annually, resulting in a market volume of US$13,729m by 2024.
Both PLN and SEK are the latest currencies to be added to PingPong Payments’ global payments solutions, which, they say, now offers merchants and online sellers, over Amazon and other platforms, the most currency conversion service options and widest international market access for payments transactions. PingPong Payments is currently the only Amazon Payment Service Provider that offers the Polish currency.
Kenny Tsang, Managing Director at PingPong Payments, said: “During a year that saw many traditional businesses disrupted by Covid-19, PingPong has been able to successfully support a surging e-commerce market and achieve global growth. Our ability to now offer both Polish and Swedish currency exchange services will provide U.S. and international merchants with access to two of the fastest-growing, richest e-commerce markets in Europe.”
Ed: By the way, The Spin Cycle is on High, is a table tennis expression – if you think it isn’t, let me know, I’ll go and complain to someone!