PingPong obtains Indonesian Payments License from Bank Indonesia

By Gloria Mathias

PingPong has officially received a PJP payment license issued by Bank Indonesia, further enhancing global compliance capabilities.

This license allows PingPong to carry out domestic and international money transfers in Indonesia. It provides safe, convenient and comprehensive payment, collection and remittance services for various global companies looking to expand their business in Indonesia and local Indonesian businesses aiming for global growth.

With a population of 280 million, Indonesia is the fourth most populous country in the world. Its average annual GDP growth rate is around 5%, and its GDP is projected to reach $1.48 trillion by 2024. Indonesia, with its large consumer market, young demographic structure, and high internet penetration rate, has become fertile ground for the development of the eCommerce industry and a preferred destination for global companies.

David Messenger, CEO of Global Businesses at PingPong, stated, “In recent years, more and more cross-border sellers and Chinese brands have expanded their business to Indonesia, while local Indonesian businesses are also actively involved in cross-border trade. This has generated a huge demand for cross-border payment and remittance services.

“By obtaining an Indonesian license, PingPong can provide local businesses with local and foreign currency payment services for general trade or cross-border e-commerce. Additionally, PingPong can offer end-to-end, one-stop cross-border payment solutions to global companies in Indonesia, helping them improve global operational efficiency,” added Messenger.

Industry experts note that obtaining an Indonesian license signals that local regulators have recognized the company’s commercial viability, compliance, information security and technological superiority. This enables deeper integration with local banks and e-commerce platforms, increasing payment efficiency and reducing costs. The company can further develop its local service ecosystem in Southeast Asia and continue to realize its global payment service network.

To date, PingPong holds more than 60 payment licenses and permits in various countries and regions, including China, Hong Kong, the United States, Canada, Australia, the European Union, the United Kingdom, Japan, Singapore, Indonesia and India.