PingPong: marketplace revenue + RMB suppliers + VAT compliance

Partner, Corporate & Commercial

Concept

PingPong — fintech provider with core operations inHangzhou (China)with the widest set of licenses among Asianneobanks: Money Transmitter permits in US states via PingPong Global Solutions Inc., HK MSO, SG MAS MPI, UK FCA EMI, Luxembourg CSSF EMI for EEA, plus local Chinese permits from PBOC. Founded in 2015.1+ million connected sellers, cumulative payment volume exceedingUS$200 billion.

Private.lawas PingPong partner

Private.law— PingPong partner. We submit applications through partner channel. PingPong has dedicated team for non-Chinese merchants (all primary support is in Chinese by default) — partner channel routes directly to this team.

What PingPong does

• Multi-currency account.Local account details for USD, EUR, GBP, CAD, AUD, JPY, HKD, SGD. Direct integrations with Amazon, eBay, Walmart, AliExpress, Wish, Cdiscount, Lazada, Shopee.
• Direct RMB payouts.To Chinese bank accounts or Alipay accounts of suppliers — via local partner banks in China, no SWIFT.
• Batch payments.Mass payouts in multiple currencies for regular supplier payments.
• VAT compliance.VAT calculation, registration, filing preparation for UK/EU sellers with marketplace revenue. Integration with marketplace VAT data (Amazon EU, eBay UK).
• Localization.Interface in Chinese, support in Chinese (in core team). For non-Chinese sellers — dedicated support in EN/RU via partner channel.
• API.For platforms and automation of mass payouts.

Use cases

Chinese seller on Western marketplaces

Primary scenario. Chinese national sells goods on Amazon US, Walmart, eBay UK, Cdiscount France. Platforms pay revenue in USD/EUR/GBP to PingPong local accounts. PingPong converts to RMB and pays out to seller's native Chinese bank account. Main advantage over regular bank — bypassing SAFE currency controls through licensed channel.

Importer from China to Western countries

EU/UK company imports from Chinese factories. PingPong — one of two main routes for paying suppliers directly in RMB (WorldFirst via Alipay— parallel option). Bypass of currency controls and banking compliance barriers.

UK/EU seller with VAT setup

UK Ltd or EU GmbH sells on Amazon EU, eBay UK, Cdiscount. Exceeding VAT thresholds creates need for VAT registration in multiple countries and regular filings. PingPong provides marketplace account + VAT services in one setup — more convenient than separate VAT provider like Avalara.

Mandatory requirements

• Marketplace history.Verified seller account on one of supported platforms.
• Jurisdiction.China, HK, US, UK, EU, SG, AU — primary accepted.
• Marketplace strategy description.Which platforms, which product categories, supplier origin.
• Clean structure and UBO documentation.

Opening viaprivate.law

1. Preparation.Corporate documents, marketplace account confirmations, business model description.1–2 business days.
2. Submission via partner channel.
3. Compliance review.For questions on business model and fund flows we respond.5–10 business days.
4. Activation.Local account details, marketplace connections, VAT options (if needed).

Total timeframe with clean profile — 7–15 business days.

Russian clients

Not suitable for

• No sales history or Chinese flow.Regular SME — seeWise,Statrys,Airwallex.
• Holding large balances.Not a bank.
• Acquiring from end customers.No acquiring, only marketplace payouts.
• Crypto, gambling, adult, weapons.Prohibited.
• Shell companies.Rejection.

Related materials

• Neobanks
• WorldFirst— direct competitor with Alipay focus
• Payoneer— marketplace revenue without Chinese focus
• Airwallex
• Wise Business
• CFC

Contact information

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