Recently, PingPong inked a Memorandum of Understanding (MOU) with CIMB Bank Berhad (CIMB), a major player among banks in the Association of Southeast Asian Nations (ASEAN), marking the formation of a strategic partnership. Both parties are set to integrate CIMB's robust banking infrastructure with PingPong's extensive global payment service network. This integration aims to deliver a faster, safer, and more streamlined cross-border payment experience for businesses, thereby fostering the growth of digital commerce across ASEAN.

Through this collaborative effort, CIMB stands to benefit from PingPong's vast network, enabling it to provide corporate clients with local accounts in more than 20 currencies. Additionally, it will waive cross-border transaction fees and facilitate hassle-free global fund management and currency exchange. On the flip side, users of the PingPong platform will gain access to CIMB's tailored supply chain financing solutions, card payment options, and acquiring services. Initially, these services will be rolled out in Malaysia, with plans to gradually extend their reach to Indonesia, Singapore, Thailand, and Cambodia.