![Photo 1 - Payment System PingPong (Hong Kong)](assets/imagesNew/bankLogo/pingpong.jpg)
PingPong is a global payment platform founded in 2015 in New York by a team of close friends and professionals. Its primary goal is to empower businesses for global growth, reach more customers, and retain more profit.
Over time, the company established its headquarters in Hangzhou, China, and obtained 55 licenses worldwide, including in Luxembourg and the USA. This allows it to open accounts both in America and Europe, depending on the business's specifics and location.
PingPong partners with major international banks such as Citibank, Wells Fargo, CITI Bank, and J.P. Morgan, as well as popular marketplaces, including Wish and UnionPay.
The company offers its clients the ability to make local payments in more than 40 countries and international transfers to over 200 countries. PingPong supports receiving payments in over 50 currencies and provides more than 170 payment methods, making it a versatile tool for businesses with global ambitions.
Opening an Account in PingPong (Hong Kong)
Corporate (multi-currency accounts), acquiring.
They can consider opening a corporate (business) account for various jurisdictions, including Ukraine, except for sanctioned ones.
The payment system does not accept high-risk activities (except for financial institutions if they are not on sanction lists).
They provide direct IBAN and multi-currency accounts working with more than 20 currencies, including: USD, EUR, GBP, several European currencies, Asian currencies, and the Mexican peso.
For acquiring accounts, integration with Amazon, Etsy, Airbnb, etc., is possible.
Opening a business account – individual.
The company has more than 30 offices worldwide.
Internet banking 24/7. A telephone customer support system is available.
Service fees in this payment system are individual and depend on the specific case.
The process of opening an account consists of two stages: the preparatory stage and the actual account opening stage.
Preparatory Stage: This includes the collection and submission of documents required to open the account. The duration of this stage depends directly on the applicant.
Account Opening Stage: The account is opened within 5 business days from the moment all necessary documents and information are provided to the payment system. The review period may be extended at the payment system's discretion.
PingPong adheres to the "know your customer" principle and reserves the right to request additional information or documents in each individual case, which may lead to an increase in the account opening time. They may also refuse to open an account without explanation.
Working languages: English, Chinese, Italian, French, German.
Physical cards are not provided; only virtual debit cards are available.
Company Documents:
- Original copies of all charter documents.
- Description of the company's ownership structure.
- Business plan.
- Proof of company address.
- Certificate of Incorporation, Articles of Association.
- Most recent tax declaration.
- Detailed description of the business (including website link, store link, annual turnover, number of transactions, countries and currencies from which funds will be received and transferred).
Documents for the Account Manager:
- Original internal passport.
- Original international passport.
- Original identification code.
- CV/resume.
- Original bank recommendation.
- Original utility bill (gas, electricity) not older than 3 months (to confirm residential address).
Documents for the Company Beneficiary:
- Original internal passport.
- Original international passport.
- Original identification code.
- CV/resume.
- Original bank recommendation.
- Original utility bill (gas, electricity) not older than 3 months (to confirm residential address).
The payment system also requires documents confirming the source of income (wealth) of the beneficiary. These may include:
- Employment certificate indicating salary and personal account statements showing salary credits.
- Tax declarations.
- Documents confirming inheritance.
- Documents confirming the receipt of monetary gifts and their presence in accounts.
- Documents confirming the sale of movable/immovable property.
- If the beneficiary is a company founder – company documents, company account statements, tax declarations, documents confirming dividend payments.
- If the beneficiary is a private entrepreneur – registry extract, entrepreneur tax declarations, bank account statements.
- Bank statement confirming the presence of a deposit and documents confirming the source of these funds.
- Other documents showing sources of income.
Documents for the Nominee Director, Shareholder, and Secretary (if using nominee services):
- A bundle of documents under an apostille, including copies of the passport, utility bill not older than 3 months, and bank recommendation (if the nominee director, shareholder, and secretary are individuals).
- A bundle of company charter documents under an apostille, including the Certificate of Incorporation, charter, and memorandum of association, protocol of director appointment (if the director is a legal entity). Additionally, Certificate of Good Standing under apostille, Certificate of Incumbency under apostille, and director's documents may be required: a bundle of documents under an apostille, including a copy of the passport, utility bill not older than 3 months, and bank recommendation.
It is necessary to visit our office to fill out questionnaires and certify documents for the company and director. Then, the documents are sent to the payment system, the proposed tariff plan is agreed upon, and after approval, the account is opened.
The account opening is conducted entirely remotely.
For more detailed consultation on the conditions of opening accounts with PingPong (Hong Kong), please contact our office. We will answer all your questions and assist you in opening an account in the Hong Kong payment system PingPong or one of over 100 foreign banks of your choice.