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  June 19th, 2024 | Written by

PingPong Launches Embedded Lending Solution to Boost US Enterprise Growth

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PingPong, a leading global cross-border payments platform, has introduced its embedded lending solution, designed to facilitate the global expansion of US enterprises. Partnering with Kanmon, an embedded lending provider, PingPong aims to offer fast and seamless access to financing, enhancing its suite of value-added services.

Read also: AI Lending: The Future of Finance

Kenny Tsang, Managing Director of PingPong, emphasized the significance of this development: “We are proud to partner with Kanmon to develop our embedded lending offering and empower US customers to scale their businesses – when and where they need it most. This marks an important milestone for our value-added service offerings.”

This innovative solution enables PingPong’s US customers to access fixed-term loans or accounts payable financing directly through the PingPong platform. Businesses can quickly apply for loans up to $250,000, with approvals completed in five minutes and funds deposited within 48 hours.

Kanmon CEO Mengxi Lu highlighted the partnership’s seamless integration, stating, “Our integrated solution allows us to quickly develop tailored services for partners like PingPong, helping businesses stay competitive and grow in challenging economic environments.”

PingPong’s financing solutions are particularly beneficial for inventory-heavy businesses preparing for major sales events such as Amazon Prime Day, Black Friday, and the holiday sales period. By preserving working capital and extending payment terms, businesses can better manage demand and sustain growth.

Eligible US-based businesses that have been in operation for over 12 months can apply for financing on PingPong’s website. The process includes a soft credit check, ensuring it does not impact the applicants’ credit scores.

PingPong plans to expand its partner program and integrate more third-party service providers, further enhancing its value-added services for US customers. As US CEOs express confidence in economic growth, PingPong’s financing solution positions businesses to capitalize on new opportunities and maintain a competitive edge.

Eligible businesses can visit the PingPong website to apply for financing to grow their business.

The financing is available to merchants across a wide range of industries, including home and kitchen, beauty and personal care, clothing, shoes and jewelry, toys and games, health, household and baby care, sports and outdoors, electronics, office products, and more.

To be eligible for financing, customers must meet the following criteria:

  • Be based in the United States.

  • Have been in operation for over 12 months.

A soft credit check will be conducted during the application process, but it will not affect the customers’ credit scores.