PingPong Payments Teams Up with Amazon Third-Party Seller Aggregator Perch
Investors are pumping billions into marketplace sellers to scale, boost sales and profit.
FREMONT, CA: FinTech unicorn PingPong, specialists in cross-border payments, join forces with Fulfilment by Amazon (FBA) third-party seller aggregator Perch, to help develop the next generation of e-commerce businesses and bolster the emerging roll-up ecosystem. Perch has raised hundreds of millions in capital to fund acquisitions, having bought 30 e-commerce brands since inception, 50 percent of which are sellers and entrepreneurs outside of the US. Once under its ownership, the significant majority of Perchs brands are experiencing high double-digit up to triple-digit growth.
COVID-19-related boosts contributed a staggering additional $174.87 billion in e-commerce revenue in 2020, amounting to a 44 percent year-on-year scale, with Amazon still dominating 40 percent of all online spending in the US. The spiraling demand for Amazon mom-and-pop firms reveals the maturation of the e-commerce leaders’ third-party marketplace, which accounts for more than half of all products sold on the site. These increased growth roll-up firms are part of the FBA program, which houses stock in Amazon warehouses and sells through its website. Stock is then offered by Amazon rather than by the marketplace sellers themselves.
In a fast-moving e-commerce landscape, with new business models emerging daily, PingPong is innovating to fuel the expansion of these fast-growth marketplace sellers with easy cross-border payment services that enable e-commerce firms to instantly gather, convert and transfer money from all corners of the world. With everything from role-based account permissions for improving security to simple supplier and overseas salary payments in local currencies, PingPongs solutions generate additional savings and bargaining power for sellers while optimizing financial operations. By working in synergy with aggregators like Perch, were unlocking the full ability of this nascent space and forming the newest retail conglomerate.