Best Buy Canada has selected PingPong, a world-leading provider of cross-border embedded payment solutions, to become its first cross-border payment service provider of record on its Marketplace. Leveraging PingPong’s easy-to-integrate API, Best Buy Canada will begin expanding internationally and facilitate payouts to international sellers.
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By leveraging PingPong’s global capability BestBuy Canada will have the opportunity to unlock new revenue streams and cross-border operational efficiencies. To date, PingPong has secured over 60 financial licenses worldwide, supports transactions in more than 100 currencies and operates in over 200 countries and regions.
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Sherry Zah, Vice President of Best Buy Canada’s Marketplace business said, “Our new partnership with PingPong is a key part of our international growth strategy. The integration team at PingPong has facilitated a swift onboarding process. PingPong’s global network and ecosystem will unlock new revenue streams for us as we look to expand our marketplace to new international sellers.”
Best Buy Canada joins leading marketplaces like Wish and Wayfair in leveraging PingPong’s sophisticated international payments capabilities. The partnership will increase Gross Merchandise Volume (GMV), reduce operational overheads, and enhance both the seller and buyer experience.
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“Our work with BestBuy Canada is a testament to our capability to help businesses scale globally. With hundreds of thousands of customers using PingPong’s ecosystem worldwide, we are uniquely placed to power cross-border payment services for enterprises of all sizes. We are excited to work closely with BestBuy Canada and drive long-term revenue growth for the business”, said Alex Chen, Vice President, APAC, Head of Global Partnerships.
Source: Businesswire
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