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PingPong Payments, the leading provider of global payment services for marketplace sellers, has announced its expansion into Mexico’s e-commerce market with support for Amazon Mexico. This expansion is expected to bolster business activity and international interest in the region.
Since 2015, PingPong Payments has processed more than $10 billion dollars in cross-border payments for more than 43,000 e-commerce merchants. On average, the company transfers up to $83 million per day for its international clients, offering competitive payout rates and support services.
“Economic prosperity and unprecedented connectivity have enabled more entrepreneurs than ever to evolve and explore diverse business opportunities. Merchants are seeking new fast-growing regions and we’re prepared to help them make the most of their strategy,” shared Karen Li, CEO of PingPong US. “As the second-largest economy in Latin America, Mexico is an optimal market entry for PingPong to bolster business activity in the region and facilitate even greater interconnectivity between the Americas, Asia, and Europe.”
With a specific focus on supporting merchants selling through Amazon Mexico, PingPong is aiming for one of the fastest-growing demographics. In August 2019, Amazon inaugurated its biggest distribution center in Latin America. With more than 100,000 square meters, the new center located in Tepotzotlán, Cedis, is Amazon’s third in Mexico. According to Euromonitor, Amazon led Mexican e-commerce for the second year in a row at the end of 2018, with 36.54% of market share compared with 35.26% for Mercado Libre and 15.38% for Walmart.
“As Latin America continues to grow in terms of their e-com buying, brands selling on the Amazon platform can now position themselves early into the Latin America market,” says Tim Jordan, Amazon seller and Executive Strategist for PingPong. “With new tools and capabilities via companies like PingPong, entrepreneurs are running out of excuses to NOT expand globally.”
The announcement means that anyone with entrepreneurial ambition outside of Mexico can now participate in its booming e-commerce activity and still take advantage of services and support typically only found in more mature marketplaces.
About PingPong
Founded in 2015, PingPong is an award-winning fintech company whose mission is to empower e-commerce merchants to sell anywhere in the world with a simple and streamlined experience
Release ID: 88934520