PingPong Expands Leading B2B Cross-Border Payments Platform Into Malaysia, Further Unlocking South East Asia For Enterprise Clients
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 2 June 2025 - PingPong, the world-leading provider of cross-border embedded payment solutions for enterprises, is pleased to announce that it has been granted a Money Services Business Licence from Malaysia's central bank, Bank Negara Malaysia. This latest licence further adds to PingPong's extensive portfolio of over 60 global licences, unlocking even more cross-border opportunities for enterprises on PingPong's platform.
Malaysia offers significant growth opportunities for enterprises looking to scale in Southeast Asia. Its GDP is expected to reach $445 billion USD by the end of 2025 and grow by 33% by 2030, reaching $600 billion USD. International trade is a significant part of Malaysia's wealth, valued at 132% of GDP in 2023.
Financial services and fintechs are thriving across Southeast Asia, with Malaysia emerging as a key player. The country ranks third in the region in terms of the number of fintech companies it has, and it is poised for significant growth. Malaysia's fintech sector is projected to double, from $54 billion USD in 2025 to $111 billion USD by 2030, reflecting a robust compound annual growth rate (CAGR) of 16%. Its strategic location, high digital adoption rate, and robust financial sector have made it one of the key growing countries in Southeast Asia.
Jianqin Shu, Partner and APAC General Manager at PingPong, said, 'As one of the most strategically positioned and rapidly growing economies in Southeast Asia, Malaysia presents an incredible opportunity for enterprises scaling their global operations. Securing a Money Services Business licence positions PingPong at the heart of this growth, empowering us to support Malaysia's expanding fintech and financial services ecosystem, meeting the rising demand for efficient, compliant cross-border payment solutions. This milestone enables us to extend our global reach further and provide enterprises with end-to-end, one-stop payment services.'
This approval adds to PingPong's already significant portfolio of over 60 global licences across the United States, EU, UK, Hong Kong, mainland China, Canada, Australia, Japan, Singapore, Indonesia and other countries and regions worldwide.
Hashtag: #PingPong
The issuer is solely responsible for the content of this announcement.
About PingPong
PingPong was founded in New York in 2015, with the goal of solving the immense challenge of scaling enterprise businesses globally. Fast forward to today, and PingPong has become one of the world's leading global cross-border payments platforms, processing more than $250 billion USD. Our API-first cross-border payments platform integrates with enterprises to send, manage, and receive money faster on a global scale.
PingPong currently has 37 offices in 15 countries and 1,500 employees. Our international presence helps businesses solve complex payment needs in every major economy across all time zones.
Press contact: [email protected]
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
Singapore's CDL to Sell $2.1 Billion Office Complex to Cut Debt
City Developments Ltd. agreed to sell its majority stake in one of Singapore's most iconic office complexes, according to a person familiar with the matter, as the developer seeks to reduce debt and regain investor confidence after a family feud rocked the firm. CDL will sell its 50.1% stake in South Beach to minority owner IOI Properties Group Bhd, the person said, requesting not to be identified because the information is private. Malaysian developer IOI will have full ownership following the deal. The deal values the complex at about S$2.75 billion ($2.1 billion), the person said.
Bloomberg
an hour ago
- Bloomberg
Global Funds Weigh Whether Indonesia Market Rebound Was Too Fast
Indonesia's financial markets have bounced back after a torrid few months, sparking a debate on whether the rally can last. RBC BlueBay says any inflows into Indonesian bonds will remain tactical until there's more clarity on how the government will fund its growth plans, while PT Mirae Asset Sekuritas Indonesia warns that the recent rally in equities has run ahead of fundamentals. Indonesia's currency has climbed some 4% since hitting an all-time low in April, while sovereign notes recorded the biggest monthly inflow this year in May.
Yahoo
an hour ago
- Yahoo
TerraPay Secures Class B License from Bank Negara Malaysia to Strengthen Cross-Border Payments in APAC
KUALA LUMPUR, Malaysia, June 4, 2025 /PRNewswire/ -- TerraPay, a global leader in digital cross-border payments, today announced that it has been granted a Class B license by Bank Negara Malaysia (BNM). This development marks a pivotal step in TerraPay's expansion across Southeast Asia, reinforcing its commitment to enabling secure, real-time, and compliant cross-border payment solutions in one of the region's most dynamic financial hubs. Malaysia stands as one of the largest cross-border remittance and trade corridors in the Asia-Pacific region. With the new license, TerraPay is now well-positioned to support the country's growing demand for efficient and transparent cross-border financial services. The license enables TerraPay to directly partner with Malaysian banks, licensed payment institutions, and enterprises to facilitate seamless inbound and outbound remittances, B2B payments, and wallet payouts. It also empowers TerraPay to deepen its collaboration with local financial institutions and fintechs, offering them access to its robust, interoperable, and API-driven payment infrastructure. This will enable partners to scale their cross-border offerings with confidence, while ensuring compliance with Malaysia's regulatory standards. "This license reinforces TerraPay's commitment to building a seamless and compliant payments ecosystem across APAC. Malaysia is a key market, and we are excited to deepen partnerships that drive financial inclusion and innovation," said Ambar Sur, Founder & CEO of TerraPay. Sukesh Malliah, Vice President (APAC) at TerraPay, said, "Securing the Class B license from Bank Negara Malaysia is a proud milestone in TerraPay's APAC journey. Malaysia is a strategic market with immense potential for cross-border remittances and trade. This license empowers us to directly collaborate with local banks and financial institutions, delivering real-time, secure, and compliant payment solutions. We remain committed to driving financial inclusion and innovation across the region, while enabling our partners to scale confidently across borders." Aligned with Malaysia's digital financial inclusion goals, TerraPay's infrastructure is designed to be future-ready, supporting real-time transactions, enhancing customer experience, and promoting financial access for underserved communities. The company's technology-first approach ensures that partners can integrate quickly and scale efficiently. As a licensed entity under BNM, TerraPay reaffirms its dedication to upholding the highest standards of compliance, customer protection, and innovation. This milestone further strengthens TerraPay's global regulatory footprint and underscores its mission to simplify global payments for everyone, everywhere. About TerraPay TerraPay simplifies global money movement, providing a single connection to one of the most expansive cross-border payment networks regulated in over 30 global markets. The platform enables payments to 150+ receiving countries, 210+ sending countries, over 3.7 billion mobile wallets, 7.5 billion bank accounts, and more than 12 billion cards. TerraPay is on a mission to create a borderless financial world, making money transfers instant, reliable, transparent, and fully compliant. Founded in 2014, TerraPay has built the global digital wallet interoperable network, driving financial inclusion even in the most remote markets. TerraPay is headquartered in London, with offices in cities like Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, and Singapore. Backed by leading investors including the IFC (World Bank), Prime Ventures, Partech Africa, and Visa, TerraPay continues its rapid global expansion. View original content: SOURCE TerraPay Sign in to access your portfolio
