Global localization layout is accelerating! PingPong UAE payment license is approved in principle

Source: Shanghai Securities News·China Securities Network

Shanghai Securities News China Securities Network (Reporter Wei Qian) On the 4th, the global payment platform PingPong stated that it has obtained principled approval from the Central Bank of the UAE (CBUAE) and will become China's first third-party payment institution to hold an UAE payment license.

Xu Zheng, partner of PingPong Group and general manager of global institutional business, said: "The UAE is an important market opportunity for our users. Obtaining the UAE license will further enhance the value of PingPong's global payment base. In the future, we will build a deep financial institution cooperation network and ecological cooperation network locally based on the license, and use the UAE as an important node of PingPong's global payment network."

It is understood that after the license officially takes effect, PingPong will use its first-mover advantage and local layout to quickly expand in the UAE market, providing account opening, local remittance, payment aggregation, local collection, cross-border transfer and other services for UAE local enterprises to expand global business development and global enterprises entering the UAE market, to help enterprises explore the Middle East market.

Up to now, PingPong holds more than 60 global payment licenses and licenses, forming a localized payment service network covering core global trade transactions such as Europe and the United States, East Asia, Southeast Asia, and the Middle East.

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