What is an international money transfer?

International money transfer is the process of receiving and sending money across the international border between an individual, business, or organization from their bank account to the recipient's bank account.

International money transfers can also be called cross-border money transfers.

What is the best way to receive money internationally?

Digital payment solutions such as payment processors are the best way to receive an international payment.

E-Payments are in vogue and shall stay because they are more convenient, easy, quick, secure, and easy to track than wire and bank transfers.  

When you talk about the best way to receive money internationally, PingPong payments is the answer because it is one such efficient and pocket-friendly payment solution.

How long does an international money transfer take?

International money transfers usually take 3-5 business days to reach your account if we talk collectively. Moreover, it is hard to track the payment trail if you opt for a bank or wire transfer.

Whereas, if you ask PingPong payment, "How much time does international money transfer take?" The answer is 1-2 business days. Yes, hard to believe.

PingPong doesn't have the right to hold your foreign inward remittance, unlike other international payment processors. Therefore, with PingPong, you can receive your international payment with the best transfer time compared to other competitors in the fintech industry.

How much money can I send internationally?

Under the Foreign Exchange Management Act (FEMA) rules, an Indian citizen can remit up to $250,000 in a fiscal year for certain transactions.

Even if you use digital means to send money abroad, your payment processor or bank will impose certain limitations on the transaction amount.

However, currently, PingPong only supports receiving cross-border payments.

Is an international money transfer safe?

Yes, international money transfer is safe, secure, and monitorable. You can access these leverages with your international money transfer only when you use a suitable payment solution to ensure money transfer safety.

PingPong transfers more than $150 million a day for international eCommerce sellers and has become a monetary haven for more than 1 million sellers. PingPong has processed more than $90 billion in cross-border payments for eCommerce. All of them were safe and buffer-free.

Is PingPong safe?

Yes, PingPong payments are safe for cross-border transactions. It isn't something that we boast about, but a collective answer by our millions of customers.

PingPong payments are for Amazon sellers, freelancers, eCommerce merchants, service providers. And we have kept the trust of millions of our users across the globe by facilitating safe, quick, compliant, and transparent payments in multiple currencies.

What is a payment processor, and why do I need one?

A payment processor acts as a secure and compliant bridge between the payee's and recipient's bank to facilitate a smooth and fraud-free payment.

There are other methods such as cheque, internet banking, wire transfer, bank transfer, contactless card payment, and many more. All of them charge expensive forex and additional charges and have a longer transfer time than payment processors.

Whereas, if you are an eCommerce merchant, entrepreneur, freelancer, or employee, a payment processor will help you perform a fast, safe, compliant, and transparent money transfer at a highly competitive foreign exchange rate.

What is a payment gateway?

With slight difference, payment gateway is an online monetary mechanism that collects and transmits payment information from the client to the acquirer and approves the transaction between the merchant and the customer.

This third-party payment technology plays a significant role in card-not-present transactions.

What is the difference between a payment processor and a payment gateway?

Even though payment gateways and payment processors are responsible for transaction authorization, they are not the same.

Payment gateways validate the customer's account number and verify that it is part of the issuer's card.

Payment processors are responsible for moving data, communicating with banks, and determining the legitimacy and availability of funds to process payments. They are also in charge of determining if the card is authentic and compatible with the 3D-secure infrastructure.

What is FIRC?

A Foreign Inward Remittance Certificate (FIRC) is a document that proves that all incoming foreign payments are received in the correct account. It'sIt's done for legitimacy purposes and assurance.

One has to go to the bank to get their FIRC. However, PingPong gives a free digital Foreign Inward Remittance Certificate after every cross-border transaction.

What is VAT & GST Compliant?

Value Added Tax (VAT) and Goods and Services Tax (GST) are the two types of taxes levied at every stage based on production and distribution.

Being VAT compliant ensures that your VAT return is filed accordingly within the stipulated time to the authority.

GST compliance is where the government gives ratings to a business to see its compliance with the tax department. The score is based on timely filing of monthly and annual returns, taxes paid, and other things.

PingPong helps you in paying your VAT and GST in any country without any currency conversion confusion.

What is PingPong and How PingPong works?

PingPong is a six-year-old international payment processor. It is an efficient and pocket-friendly international payment solution for Amazon sellers, service providers, freelancers, and eCommerce merchants.

PingPong works like a virtual monetary window across international borders that portrays you as a local and helps in accessing foreign currencies locally.  

PingPong helps receive USD, GBP, EUR, JPY, AUD, MXN, AED, CAD, and SGD.

Is my money safe with PingPong?

Yes, your money is safe and secure with PingPong payments because we guarantee:

  1. We assure security and compliance.
  2. We are licensed and regulated with renowned and established financial institutions and banks across the globe.
  3. Offer encrypted Two-Factor Authentication.
  4. Provides the users with SMS Verification Access to ensure High-level Account Features and Information.
  5. Private, Unique PIN Verification Requirements are processed for all significant activities, including sending and withdrawing money.

Is PingPong a payment processor?

Yes, PingPong is a reputed cross-border payment processor registered under the Reserve Bank of India and has a partnership with established banks such as CitiBank, DBS, Wells Fargo, and many more.

PingPong creates a beneficial virtual monetary window in the foreign land so as to receive payments locally. It helps in dissolving the currency conversion crisis.

How to make an account in PingPong? What documents are required?

  1. To begin with, you have to select the account type - online seller, freelancer, supplier, and others.
  2. Then feed in your email, password, and contact detail. Then you shall receive a confirmation code, enter the six-digit code and proceed.
  3. Your account is created. Then, you will receive an email. Click on the ''Activate Now'' button to direct you to the PingPong sign-in interface.
  4. After signing in, you will set up the receiving account (here, you select the types of currencies you want to receive your fundings).
  5. Select the platform from which you want to receive payments and set the monthly estimated sales volume.
  6. Then, as you proceed, you have to select the location and purpose code for better quality.
  7. Then, you have to set up your PingPong account type, verification, and your bank account.

Documents required:

  1. You can either select PAN, Passport, or Aadhaar
  2. Opt for "Do you have GST Certificate or not"
  3. Give bank details to link it with PingPong account
  4. Upload your bank statement

Documents differ based on the requirements and types of accounts.

Does PingPong provide B2B payment solutions?

Yes, PingPong payments is a B2B payment solution.

Suppose you are a freelancer, Amazon seller, service provider, or any eCommerce merchant on other online marketplaces. In that case, PingPong payments are the apt and pocket-friendly B2B payment solution.

So far, PingPong has facilitated more than a million-dollar payment across the globe for sellers. And millions have relied on PingPong payments for their monetary trust, as we ensure security and savings in every international transaction.

What is Annual Vacation Rewards?

PingPong announces an international travel opportunity for the users every year, but you need to earn it.

It is a reward aimed at the top sellers based on business volume. The seller can choose any of the four international trips.

1) Fly to the United States or Europe and stay in a 5-star hotel for two days.

2) Singapore Exotic Cruise Tour

3) Visit Serene Bali.

4) Explore Dubai's Enchanting Attractions

FAQs related to Amazon Sellers

Does PingPong provide payment solutions for Amazon Sellers?

Yes, PingPong does provide a payment solution for Amazon sellers.

You need to merge your PingPong account to the Amazon seller account by copying the Routing Number and Account Number of your PingPong Account on the Amazon Seller Central Account.

Then, start receiving your money in INR, USD, GBP, EUR, JPY, AUD, and CAD.

Step 1:

First, create a free PingPong Account with zero sign-up and maintenance fees.

Select the account type, put in your Know Your Customer (KYC) details, set up your receiving account, and merge your Indian bank account details.

Step 2:

After creating the aPingPong account, you have to link it to the Amazon Seller Central account by copying and pasting the Routing Number and Account Number from your PingPong Account on the Amazon Seller Central Account.

Step 3:

It is the easiest step to start receiving payments in your selected currency to your Indian local bank account in INR, USD, GBP, EUR, JPY, AUD, and CAD.

How long do Amazon seller payments take?

In general, 14 days after you create your seller account, Amazon settles your account balance for the first time. It implies that on your settlement date, Amazon will begin payment to your bank account.

Following that, the settlement procedure is processed after 7 days.

However, to receive the payment online in a buffer-free manner, one should:

  1. Valid bank account merged to your Central Seller Account
  2. Positive Seller Account Balance

What are the charges involved in Amazon Seller account set-up?

Zero sign-up and maintenance fees are one of the perks of owning PingPong as your finance companion in international transactions.

You get to access all the perks of PingPong at lowest rates best foreign exchange rate levied on every international transaction.

What are the documents needed to sign-up as an Amazon Seller?

You need to have any one of the photo IDs,

  1. PAN Card
  2. Passport
  3. Aadhaar Card
  4. And, GST certificate

Suppose your business type is Partnership (LLP), the documents needed from your end will be:

  1. GST Certificate or Partnership Deed
  2. Photo ID of primary partner and other partners who have control over 25% of the partnership.

Similarly, the requirement of certain documents changes according to the business type.  

Can I accept International Payments through PingPong?

Yes, with PingPong, you can accept your international payments in a safe, secure, real-time, transparent, and highly competitive foreign exchange rate,

PingPong is for - freelancers, Amazon sellers, service providers, and other eCommerce merchants. The users, as mentioned above, can accept their international payments in USD, GBP, EUR, JPY, AUD, MXN, AED, CAD, and SGD.

How do I receive payments as an Amazon seller?

As an Amazon seller, Amazon would pay you via Automated Clearing House (ACH), which might take up to 5 business days to show up in your bank account.

Payment transfers on Amazon become visible after every two weeks.

As an Amazon seller, the best way to receive your payments is via online payment processors because they are quick, secure, easy to use, and transparent.

Can I receive Amazon payments in local currency?

Yes, you can receive Amazon payments in local currency. Not every payment solution gives you a choice.

However, PingPong payments give you the leverage to accept payments in international money and later convert it at a profitable real-time rate.

PingPong helps create a virtual monetary identity for you in a foreign land. You can locally accept international remittances without fearing expensive foreign exchange rates and currency conversion.

How Do Sellers Get Their Amazon Marketplace Payments?

You don't need to bother about receiving the funds at the right place if you have specified the correct bank account in your Amazon Seller Central Account.

Even if you pay by check, the money is sent immediately to your bank account.

How Does Amazon Seller Payment Work?

To begin with, go and visit your Seller Central homepage. Click on the 'Reports' -> 'Payments'. It will direct you to the payment page to map how much money you will get and when it will be disbursed.

Then it undergoes the Automated Clearing House (ACH), and payment will be processed in your account after 5 business days.  

Timely and successful payments would occur if you have:

  1. Valid bank account
  2. Positive balance
  3. Funds that are eligible for transfer
  4. Legitimate card details

The amount you shall receive for your sales from Amazon will be visible after two weeks.

What percentage does Amazon take for selling?

There are four types of Amazon seller fees levied on the Amazon sellers, and they are as follows:

  1. Sale-related fees (it can range between 6% to 45% of the product's selling price, with the average seller paying 15%)
  2. Seller account fees (it can range up to $39.99 per month)
  3. Shipping costs (it varies depending upon the product and geography location)

Do amazon sellers pay taxes?

Yes, Amazon sellers need to pay taxes, and they are certain things that Amazon sellers have to keep in mind, and they are as follows:

  1. Accompanying the 1099-K form is for those with more than $20,000 in unadjusted gross sales and more than 200 transactions.
  2. File a Schedule C
  3. Sales Tax
  4. But, you can vouch for deductibles.
FAQs Related to Freelancers

Can freelancers receive money in the local account from international clients using PingPong?

With PingPong, freelancers can receive international payments from global clients and freelancing platforms securely, quickly, and foreign an exchange-friendly manner.

PingPong helps freelancers from - Upwork, Chegg, Freelancer, 99Designs, Udemy, and Envato to receive payment in a local bank account.

With PingPong, you can receive international payments in - USD, EUR, GBP, CAD, JPY, and AUD.

How to receive payment for freelance work in India?

There are several ways to receive payment for freelance work in India, such as internet banking, payment processor, contactless card payment, cheque.  

Digital payment is in vogue, and PingPong is the perfect channel where Indian freelancers can receive their international payment in a quick, efficient, and cost-effective manner.

PingPong helps freelancers receive USD, EUR, GBP, CAD, JPY, and AUD payments.

What all payment modes can I offer my customers? Do my end customers need to pay any charges?

As a freelancer, you can offer your customer multiple payment solutions such as:

  1. ACH Payments
  2. Wallet Payments
  3. Payment Processors
  4. Credit/Debit card payment
  5. Bank Transfer
  6. Wire Transfer
  7. Internet Banking

But, every payment mode comes with a charge, including the service tax, foreign exchange, and hidden costs.

However, PingPong payments help you receive payments at lowest commission and best foreign exchange over your fundings received. Yes, that's it.

Can e-commerce businesses use PingPong to receive their payments?

Yes, PingPong does support other eCommerce businesses to receive international payments.

Did You Know!

That an average number of global eCommerce sellers from India

ends up paying up to 4 times more foreign exchange than with

PingPong's at lowest commission all-inclusive rate.

PingPong payments support online marketplaces such as - Shopify, Shopee, Rakuten, Cdiscount, and many other eCommerce platforms.

Can I receive payments from Upwork?

Yes, you can receive your international payments from Upwork. It is one of the preferred payment solutions for Upwork users in India.

All you need to do is sign up for free on PingPong, add your PingPong account details to your Upwork freelance account, and start getting paid.

Using PingPong for your Upwork profile would help in:

  1. Boost margins
  2. Faster transfer time
  3. Highly competitive forex rate (inclusive of all services)
  4. Zero hidden charges
  5. As PingPong can't hold funds, the international remittance directly hits your local Indian bank account.

Can I receive payments from different freelance platforms?

Yes, with PingPong payment, you can also receive international payments from freelance platforms such as:

  1. Freelancer
  2. Chegg
  3. 99Designs
  4. Envato
  5. Udemy

Therefore, you can receive international payments from these platforms, too, like Upwork freelancers are leveraging.

What are the requirements to register on PingPong?

  1. As a freelancer, you need to do the free sign-up by adding your name, password, contact number, and confirmation code.
  2. Then you receive the mail, where you click 'Activate now.'
  3. Then you again sign up where you sign up and apply for receiving accounts.
  4. Then, you set up your account type and submit PAN, Aadhaar, or Passport as your photo ID and its image.
  5. Then, you have to upload a cancelled check or bank statement.
  6. Then, you will set the verification code.
  7. Later, you set the currency type along with the limits, etc.

Can I receive international payments via PingPong?

Yes, you can receive your international payments via PingPong because PingPong creates a virtual monetary window in the foreign land for the freelancer sitting in India.

It helps access payments in a pocket-friendly, secure, fast (1-2 days), and transparent manner. When you receive the payment in the foreign currency, you can convert it to your local currency based on the real-time conversion calculator provided by PingPong.

Beneficial, right?

How can a freelancer receive international payments in India?

There are multiple methods as freelance to receive international payments in India, such as:

  1. Bank Transfer
  2. Card payment
  3. Wire Transfer
  4. Payment Gateway
  5. Payment Processor
  6. Digital Wallet
  7. Cheque

But, the best and pocket-friendly manner to receive foreign inward remittance would be PingPong.

PingPong payments perform their functionalities and deliver other benefits at lowest commission on the foreign exchange rate.

How many days will it take to reflect on my local bank account?

Out of the many perks, PingPong's transfer time is pretty fast, 1 to 2 days. Apart from that, PingPong is not allowed to hold your foreign funds. It implies that when your client processes the payment, it will immediately hit your PingPong account.

Does the freelancer need to pay taxes?

Yes, the salaried employee (freelancer), as per India's Income Tax Act department, is also liable to pay taxes.

There is no exemption from GST. Earlier, there used to be VAT & other relative taxes, but now freelancers have to pay CGST, SGST, and IGST depending on where they work.

Moreover, if bloggers sell space within their state or outside state lines, they are still subject to GST requirements. If the total value of services provided exceeds ₹20 lakhs per year, they must be registered under the GST Act.

FAQs related to E-Commerce Sellers

Can I accept payments by Shopify?

Yes, with PingPong payments, you can accept payments by Shopify in a secure, fast, and low-cost manner.

All you need to do is do a free sign-up and wait for 1 business day to get it approved by our experts. After 24 hours, be ready to receive your international payments in a buffer-free manner.

Many non-PingPong eCommerce sellers end up paying up to 4 times more for forex. Don't you want to halt some unnecessary costs?

How do I receive eCommerce payments?

You can receive your eCommerce payments via:

  1. Wire transfer
  2. Bank transfer
  3. Digital wallet
  4. Payment processor
  5. Payment gateway
  6. Internet banking

Amidst all the modes, PingPong is one beneficial international payment processor that will help you receive foreign remittance from various eCommerce platforms such as - Rakuten, Shopee, Amazon, and many more.

PingPong creates a virtual monetary path to create a localized payment window for you to a foreign land to receive the international payment hassle-free.

How to file a GST return eCommerce seller?

Recent regulations that impact the Internet Ecosystem:

  1. TCS of 1% on online sales under GST: E-commerce platforms are required to deduct 1% TCS on sales generated by sellers on their platforms.
  2. TDS (income tax): Budget 2020 proposes levying a 1% TDS on payments made for the supply of products or services facilitated by e-commerce platforms if the gross revenue exceeds Rs 5 lakh per year.

Now, how to File a GST Return?

  1. Make a GSTR-1 form for the sales you made.
  2. Your buyer will keep track of the GSTR-2 sales you make.
  3. The buyer will file GSTR-2 when you have approved the sales.
  4. If the buyer modifies the sales details, you will be notified in GSTR-2. Then, you will be able to approve or disapprove the data provided.
  5. If no objections are raised then, GSTR-3 will be generated together with tax payment.

What documents are required to open an account as an E-Commerce Seller?

The documents shall differ as per the business type, such as:

Corporation (Pvt Ltd, PLC) - Documents required for this business type are

  1. GST certificates.
  2. Photo ID of the applicant (Aadhaar, Passport, or PAN card)
  3. Photo ID of UBOs
  4. Shareholder structure articles of Association

If it's a sole proprietorship then, you require,

  1. Photo ID
  2. GST Certificate (all three pages)
  3. Either cancelled cheque or bank statement

Similarly, the requirement of documents differs based on the business type.

How much time will it take to approve my account?

PingPong won't take more than 24 hours to approve your account. First, you need to add your details, such as name, contact number, and create a username and password for sign-in purposes.

The PingPong team utilizes 24 hours to verify your given details and ensure credibility to start receiving your payment the next day. You don't face any finance buffer in your e-commerce.

How much fees does PingPong charge for international payment?

All the below-mentioned leverages are available to our users at lowest commission of the foreign exchange service. Moreover, it's free from any hidden charges.

PingPong provides:

  1. Free sign up
  2. Zero maintenance fees
  3. Receive payments in USD, GBP, EUR, CAD, AUD, and JPY
  4. Receive a free digital Foreign Inward Remittance Certificate after every international transaction via PingPong payments, which means no more standing in queues.
  5. Security and compliance with encrypted two-factor authentication
  6. PingPong offers knowledgeable customer service that doesn't give automated bot replies.
  7. Transfer time of 1-2 days
  8. Regulated and licensed by renowned financial institutions and banks such as CitiBank, Wells Fargo, DBS, etc.

Is there any cost to set up my account?

Zero Sign Up & Zero Maintenance cost. PingPong payments don't charge to set up your account (irrespective of the type).

You can immediately add your details and start getting your payments 24 hours after our teams run through the credibility test.

How do I receive payment from international clients?

You can pay your international clients in multiple ways, such as:

  1. Bank transfer
  2. Wire transfer
  3. Payment gateway
  4. Payment processor
  5. Digital Wallet

Different payment methods come with a price. The least expensive and more secure international payment option is none-other than PingPong.

You can easily integrate your online marketplace with your PingPong account and start receiving the payment. This payment processor creates a virtual monetary window to accept foreign money locally.

Can I receive international payments to my local account?

With PingPong payments, you can directly receive your money into your local bank account without any buffer. PingPong offers easy integration with your eCommerce portal so that you can accept your international payment without much delay.

As PingPong opens a virtual monetary window for your remittance, you can receive the foreign currency locally like you are their citizen. Later, when you observe a profitable conversion rate, you can convert the money into your desired money to leverage the profit.

As PingPong is authorized to hold your funds, your customer processes the moment money. It will directly hit your account.

PingPong payments support the following eCommerce marketplaces:

  1. Amazon
  2. Rakuten
  3. Shopify
  4. Shopee
  5. Cdiscount

PingPong helps you accept international payments in - USD, GBP, EUR, CAD, AUD, and JPY and allows an easy and buffer-free integration process with the eCommerce platforms mentioned above.

FAQs related to Upwork

How do I receive payment from Upwork?

Though there are multiple ways to accept international payments from Upwork, PingPong payments are a pinch more effortless.

With PingPong, all you need to do is:

  1. Create a free sign-up PingPong account, choose the account type and add all the required personal details and bank account (to receive payment via PingPong payments).
  2. Wait for 24 hours to get your account approved.
  3. Then, add your PingPong account details to your Upwork account.
  4. Now, start getting paid!

How does payment work on Upwork?

  1. Log in to your Upwork profile then,
  2. Go to Settings -> Get Paid
  3. Click Add Method
  4. Click the Setup button for your chosen method and enter the information.
  5. Choose a payment schedule and click Next.

According to Upwork, your selected payment method will take up to 3 days to activate your security reasons. Always check through your account details while adding the details.

Upwork supports:

  1. ACH payment
  2. Wire Transfer
  3. Direct to Local bank
  4. Credit Card payments
  5. Third-party payment vendors such as PingPong

How long does it take to receive payment from Upwork?

It can take up to four business days for direct payments to local banks to reach your bank. After the invoicing period has ended and the client has reviewed the work.

As it takes longer for Upwork to pay you, PingPong helps you receive your international payment in 1-2 days after the client processes the money from their end.

What documents are needed to open an account in PingPong as a Freelancer?

As a freelancer, you need to provide any one of your photo IDs - Aadhaar Card, PAN card, and Password. You also need to upload your bank statement.

Note: If you are a student and are below 18 years you aren't eligible to have an account on PingPong payments.

Yes. You can link your Upwork account with PingPong in an easy and hassle-free manner. Follow the steps to experience faster integration:

  1. To begin with, create a free PingPong payments account.
  2. Now, add your PingPong account details to your Upwork account by selecting the Add Method from the Upwork settings.
  3. After the PingPong teams run a security and credibility check on your given details, after 24 hours, you are all set to receive your international remittance.

Are there any withdrawal fees while using PingPong?

Every payment channel charges its user a certain percent of the foreign exchange rate. Similarly, PingPong also charges its users a highly competitive foreign exchange rate inclusive of all the services.

While some charge an expensive foreign exchange rate, some payment processors charge feasible forex in the fintech market.

Does Upwork pay immediately?

No, Upwork doesn't pay its customers immediately. Direct payments to local banks might take up to four business days to reach your bank. After the invoicing period has expired and the client has reviewed the work.

PingPong helps you receive your international payment in 1-2 days once the customer processes the money from their end since Upwork takes longer to pay you.

Can I change my payment method in Upwork?

Yes, you can change your payment method in Upwork, but it comes with certain limitations. The steps are as follows:

  1. Open your Upwork account -> Go to Settings.
  2. Then go to Billing Methods to update, amend, or remove a billing method.
  3. To delete a primary billing method, add an alternate billing method and then make it your primary billing method.

Note: You cannot change your payment card number. You need to add your credit card number as a new billing method to change it.

How do I verify my payment on Upwork?

  1. Go to Settings › Billing Methods.
  2. Click the Add a New Billing Method.
  3. Add your primary payment method, and don't forget to have a backup payment method to keep your payments sailing.
  4. Select the Payment Card option.
  5. Enter your Credit or Debit card information and billing address, and click Save.

Or,

You can also opt for third-party payment tools such as PingPong. Integrate your Upwork account on PingPong payments and start receiving your payments in a secure, transparent, and quick manner (1-2 days).

How to integrate a payment solution provider (PSP) in Upwork?

Upwork supports third-party payment tools, and PingPong is one of them. In the Upwork freelance world, PingPong payments are one of the most preferred payment solution providers for Indian freelancers working for foreign clients.

To integrate your Upwork account with PingPong, you need to follow two easy steps, and they are as follows:

First of all, create your free PingPong account and get it sanctioned within 24 hours. Don't forget to double-check the bank details you upload while creating the account.

Then, open your Upwork account, and in the payment method, add PingPong.

That's it!

Start accepting your international payment without any hiccups or other payment tools holding your funds.