Global payment platform PingPong recently announced it will be among the first Asian payment companies to support business use of Wero. In October this year, Wero will launch its To B payment service. After launch, businesses will be able to access this unified European digital payment service via PingPong, reaching 250 million European users.
Wero is the first pan-European payment solution developed by the European Payments Initiative (EPI) in collaboration with 16 leading European banks and financial institutions. Launched in July 2024, it aims to break Europe's fragmented payments landscape. Currently, Wero is widely used for personal transfers, with cross-border remittances taking as little as 10 seconds. Official data shows Wero already covers over 75% of active bank account users in core markets like Germany and France, with coverage steadily growing.
PingPong is a cross-border trade digitalization service brand founded in 2015 and headquartered in Hangzhou, China. Its main business covers cross-border collection, B2B payments, supply chain financing, and other financial services. Its service network spans over 200 countries and regions, with 38 branches across 15 countries including China, the US, Luxembourg, the UK, South Korea, Singapore, Malaysia, Indonesia, and the UAE. It holds over 60 global payment licenses and permits.
This cooperation will simplify cross-border payment processes between Asian businesses and European consumers. After the product officially launches, PingPong's enterprise clients will directly access core European customer groups through the Wero system. Businesses can reach multiple European markets at once without needing to integrate multiple payment systems, reducing cross-border operational costs. Simultaneously, by enabling instant payment experiences for users, it can reduce cart abandonment rates and improve conversion.