Global cross-border payment platform PingPong has announced that it secured a Payment System Service Provider (PJP) licence from Bank Indonesia . Being amongst the few payment companies to obtain a PJP licence from the central bank of Indonesia, PingPong is now set to facilitate cross-border and domestic payments for businesses in the region, allowing international enterprises to expand their services into the country, and for Indonesian businesses to use the company’s global footprint. Due to its young population, high internet penetration, and labour force, Indonesia is one of the fastest-growing regions in Southeast Asia, increasingly solidifying its position as a country in which international enterprises look to expand their global footprint.

With the newly acquired licence, PingPong can support businesses focusing on cross-border trade to receive access to Indonesia’s export market. PingPong’s development strategy and previous news According to PingPong’s officials, Indonesia provides substantial opportunities for enterprises aiming to scale their operations globally. By obtaining the PJP licence, the company is set to be able to expand its reach and offer enterprises end-to-end, one-stop cross-border payment solutions.

At the time of the announcement, PingPong held over 60 payment licences and permits across the US, EU, UK, Hong Kong, mainland China, Canada, Australia, Japan, Singapore, Indonesia, India, and other countries and regions across the globe. Moreover, the PingPong ecosystem is developed to support the growth of cross-border digital commerce. The company’s secure, compliant, and optimised suite of products includes ecommerce payment, B2B trade payment, acquiring service, card issuing, FX management, supply chain financing, and enterprise solutions. Shortly before the current announcement, PingPong launched its Embedded Lending solution, intending to optimise the US enterprise development.

The solution, which was created in collaboration with Kanmon, was projected to allow US businesses to facilitate global, cross-border development and growth. In addition, it intended to meet the needs and demands of customers and clients and prioritise compliance with regulatory requirements and laws of the industry. .