Prime Highlights
- PingPong and Visa enable card payments to suppliers across 170 countries and 25 currencies.
- The platform extends business working capital by up to 45 days without additional debt.
Key Facts
- PingPong is a global cross-border payments company selected by Visa as an early BPSP provider.
- The solution is currently live in the UK, EU, and Hong Kong, expanding to the US and Singapore.
Background
The collaboration between PingPong and Visa in developing a Card to Account Payment Solution allows businesses to pay their bills from their suppliers using their corporate credit cards without the supplier accepting payments through the card. This is because the suppliers will receive their payment via normal bank transfers.
The solution is live in the United Kingdom, European Union, and Hong Kong, with expansion into the United States and Singapore planned through 2026. Payment solutions can be used for paying suppliers in over 170 countries and in more than 25 currencies.
“Many businesses are making payments far away from some of the best tools in working capital that they have,” says David Messenger, CEO of Global Businesses at PingPong, explaining that the reason is that most B2B suppliers don’t accept credit cards. With the partnership with Visa, Messenger adds, it shows “the global footprint, capital, and regulatory framework that modern-day business cards must have.”
“Businesses need more payment flexibility in both how and when they make their payments,” Lucy Demery, SVP Head of Visa Commercial Solutions for Europe, commented. The cooperation will help expand the commercial card infrastructure to include more value besides acceptance to improve working capital management for both buyers and suppliers.
PingPong’s solution allows enterprises to extend their working capital up to 45 days without borrowing money. It aims to help finance teams in mid-market and enterprise-level companies who are limited in flexible financing options. Companies can use the platform on PingPong’s web platform or integrate it into ERPs or treasury management systems through API connections.
PingPong manages the full payment process internally, from card acquiring to supplier payout, cutting reliance on third-party providers. Visa selected PingPong as one of the initial providers in its Business Payment Solution Provider programme.
