This latest licence will enable PingPong to facilitate cross-border and domestic payments for businesses in the region.

With a population of c.280 million, the world’s fourth most populous country has a significant consumer market, with its 2024 GDP expected to reach $1.5 trillion USD. Its young population, high internet penetration and large labour force have made it one of the fastest growing countries in Southeast Asia, and an increasingly important region for international enterprises looking to expand their global footprint. For businesses focussing on international trade, this licence will help them expand and gain access to the region’s $320 billion USD export market.

David Messenger, CEO of Global Businesses at PingPong, said “As one of the largest and fastest growing economies in Southeast Asia, Indonesia offers an incredible opportunity for enterprises scaling their operations globally. This licence enables us to expand our reach and provide enterprises with end-to-end, one-stop cross-border payment solutions.”

PingPong holds more than 60 payment licences and permits in the United States, EU, UK, Hong Kong, mainland China, Canada, Australia, Japan, Singapore, Indonesia, India and other countries and regions around the world.