payment platform for e-commerce sellers PingPong Payment (UK) Limited (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. PingPong Payment (UK) is focused on payment platform for e-commerce sellers. The company offers instant wallets, working capital loans, foreign exchange, payment acceptance, international transfers to businesses. In 2023 PingPong Payment (UK) Limited had total assets of 1.57 mln GBP.
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, PingPong Payment (UK) Limited is assigned the overall rating 3.47 (good) which is explained in details below.
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Focused | (2.29) |
| Market Niche | Narrow | (2.48) |
| Company Background | Average | (3.36) |
| Customer Support | Average | (2.67) |
| Customer Sentiment | Good | (3.59) |
| Transparency | High | (4.08) |
| Overall Rating | Good | (3.47) |
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TheBanks.eu has also identified the following pros and cons of the company:
PingPong Payment (UK) is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
PingPong Payment (UK) Limited is not registered with the FCA as a crypro asset firm.
PingPong Payment (UK) do not offer crypto assets services.
| GBP | 2022 | 2023 | change (%) |
|---|---|---|---|
| Total Assets | 527,749.00 | 1,569,773.00 | +197.45% |
United KingdomPingPong Payment (UK) Limited is authorized by the Financial Conduct Authority as a e-money institution (reference number 974154) for issuance of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance; the authorization was granted on 13 April 2023.
PingPong Payment (UK) Limited is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, PingPong Payment (UK) is required to safeguard its customers’ money.
Since January 2021, PingPong Payment (UK) Limited can not conduct its activities in EEA member states. PingPong Payment (UK) Limited keeps providing its services to EEA-based customers via PingPong Europe S.A. (Luxembourg).
CHASE BUSINESS CENTRE, 39-41 CHASE SIDE, N145 BPN, London, United KingdomEnglish
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