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The fintech firm is riding on a boom in cross-border commerce by Chinese sellers operating on foreign platforms. Founded in 2015, PingPong collects payments for Chinese exporters selling through services such as Amazon.com Inc., Shopify, and Shopee.
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PingPong is used by more than a million merchants for cross-border, value-added tax and supplier payments, according to the website. It offers sellers the ability to manage multiple currencies in a single, secure platform, and has over 600 employees in locations across the U.S., Europe and Asia.
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