How to Receive Foreign Payments Through PingPong in India?

Ever heard of PingPong? It is one of the best methods to accept International payments in India, read this blog to find out more about the platform.

How to Receive Foreign Payments Through PingPong in India?
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What is PingPongX?

PingPong aids in the payment of Indian contractors and online merchants. PingPong accepts payments from customers as well as from online retailers like Amazon and also freelance websites. Moreover, it can also be used to accept international payments by businesses.

How to Get Started with PingPong in India?

In India, you may sign up for a personal or business account with PingPong. A business account must be registered and have a business bank account.
Here’s how you can get started on PingPong:
  • To sign up, click the yellow bordered box that says "Sign Up for Free".
  • Select India as your nation, then click Next.
  • Using your email address and password, create an account.
  • Enter your phone number so you can receive the verification code and continue.
  • In order to submit your profile, click Create.
  • Next, pick up to 10 different currencies in which you will be paid.
  • Fill out the KYC box with information from your passport, Aadhaar, or PAN.
  • Choose a personal or business account.
  • Complete the necessary remaining information for your account.
Once you have submitted your registration to PingPong, you can expect about 1-2 days for review and approval.

How to Receive Money through PingPong in India?

PingPong payments offer a wide range of advantages, including but not limited to receiving payments from international clients and from marketplaces like Amazon. They offer receiving accounts in the US, EU, UK, Australia, Hong Kong, Japan, and more.
Once you sign up on PingPong, you will get a receiving account. You can share the details of this receiving account on PingPong with your client. Then, you can accept international payments using PingPong receiving accounts. The money will be withdrawn into your Indian bank account in Indian rupees (INR) from your PingPong receiving account.
Receiving accounts let you accept payments in supported currencies from businesses and marketplaces all across the world.
Local receiving accounts allow you to receive payments via local bank transfer from businesses in other countries just like you would if you had a local bank account there.
The currency that PingPong allows you to receive are: USD, EUR, CAD, SGD, JPY, AUD, GBP, and HKD.
You will receive FIRC automatically on each transaction.

How much is PingPong fee in India?

When you transfer money from your PingPong account to an Indian bank account, PingPong charges a flat included cost of 1%. On the other hand, there is no markup on currency exchange. Also, there is no charge for receiving payments in the local receiving accounts.

Time Taken for PingPong Transfer in India

It may take 3-5 business days for transfers to appear on your PingPong account. Then, it takes up to 1-2 days for the money to get withdrawn into your Indian bank account in INR.

Is PingPong safe for accepting International payments?

PingPong is a secure service that lets you accept international payments. The Indian liaison office and the online payment service have also been given the RBI's approval. Additionally, PingPong has an FCRN, or Foreign Company Registration Number.
As a user, you need two-factor authentication to access your PingPong dashboard and a PIN to make any withdrawals. This makes sure that the only person with access to your account is you.

Looking for a better way to receive your freelance and business payments? Try Mulya Finance!

There are multiple reasons to use Mulya over PingPongX to accept payments from your foreign clients. Here’s a complete PingPongX vs Mulya comparison.
There are two major differences between PingPong and Mulya Finance:
  • Transparency: Mulya Finance provides proper transparency not only in terms of charges but also tracking payments. Mulya informs you about the date of receiving of payments, exchange rate, transaction fees and everything. Whereas PingPong doesn't provide you with much clarity.
  • Customer Service: A major problem with PingPong is that its customer support is slow. However, with Mulya Finance you get quick problem resolution.

Mulya Finance for your International Payments

You should use Mulya Finance if you wish to take business payments from other countries. It maintains fee transparency and offers 24-hour customer care. Therefore, by using Mulya's services, any business, regardless of size, can easily receive cross-border payments. If you are looking for an all-round platform that lets you accept international payments with ease, click here to know more about how to get started on Mulya.
Samarth Srivastava

Samarth Srivastava has spent few years honing their skills and knowledge in the field of international payments. With a deep passion for finance and a keen eye for global business trends, the author has become a trusted authority on all things related to international payments.