CIMB partners with PingPong to empower seamless cross-border payments across ASEAN

22 September 2025

First-of-its-kind collaboration integrates multi-currency payments, tailored financing, and merchant services within CIMB’s platforms

Kuala Lumpur : CIMB Group Holdings Berhad (“CIMB” or “the Group”) today announced a landmark partnership with PingPong Global Holding Limited (“PingPong”), becoming the first ASEAN bank to enter a two-way partnership with the global payments company that’s accelerating the future of digital commerce. The Memorandum of Understanding (“MoU”) marks the start of a strategic partnership in which PingPong will be the Bank’s partner in the ASEAN region for cross-border payment solutions, integrating CIMB’s banking infrastructure with PingPong’s global network to deliver faster, more secure and efficient payment services for businesses. 

The collaboration will start with Malaysia serving as the launchpad for the joint initiative between both parties, followed by phased rollouts into key markets such as Indonesia, Singapore, Thailand and Cambodia. Businesses across the ASEAN region will benefit from seamless instant cross-border payment solutions, integrated financial services and expert support, empowering them to expand efficiently, optimise their operations, and capture new growth opportunities in international markets.

At the signing of the MoU, PingPong was represented by Robert Chen, Founder and Chief Executive Officer and Jianqin Shu, APAC CEO and Group Partner, while CIMB was represented by Novan Amirudin, Group Chief Executive Officer and Lawrence Loh, Co-CEO of Group Commercial and Transaction Banking.

Lawrence Loh said, “Seamless cross border transactions are integral for businesses to thrive in today’s digital and connected economy. CIMB is proud to be the first bank in the region to enter a two-way partnership with PingPong, a leader in cross-border B2B payments, embedding global local collect solutions, and merchant financing directly into CIMB’s ecosystem. This will empower enterprises, small and medium enterprises (“SMEs”) to transact globally with greater ease, speed and confidence. Aligned with our Forward30 strategy, these capabilities reinforce our role as a trusted partner in driving regional business growth, trade and commerce."

Jianqin Shu, APAC CEO and Group Partner at PingPong, said "As the global payments company that's accelerating the future of digital commerce, we are thrilled to partner with one of ASEAN's banking leaders to make cross-border B2B payments as simple as local transactions."

“This partnership creates a powerful combination, with CIMB gaining access to our proven global payout and collections network, removing costly cross-border fees. We can now offer businesses multi-currency virtual accounts with seamless conversion, plus tailored merchant financing and card solutions. Together, we are not just strengthening our presence across the ASEAN region, we are making global commerce truly accessible for businesses."

Through this collaboration, CIMB’s payment infrastructure will leverage PingPong’s platform to receive payments in over 20 local currencies through virtual local accounts, eliminating costly cross-border fees. Businesses will be able to hold funds in CIMB’s multi-currency accounts, convert currency seamlessly, and make or receive payments to and from buyers, suppliers, employees and partners globally.

The partnership also integrates a CIMB-powered merchant financing solution designed for PingPong’s SMEs and corporate merchant base, offering customised financial support to drive business growth and operational efficiency. In addition, CIMB will provide white-label SME card solutions for PingPong’s customers, enhancing their payment flexibility and transaction management. PingPong’s merchants will benefit from CIMB’s merchant acquiring services, enabling acceptance of cards and alternative payment methods across ASEAN.

Founded in 2015, PingPong is a global leader in embedded cross-border payment solutions for enterprises and SME businesses, allowing them to open virtual accounts in more than 20 local currencies and supports local and cross-border payouts in over 130 countries. Its multi-currency wallets provide businesses with a secure, efficient way to receive and hold funds, convert currencies, and make payments to suppliers, employees, or partners worldwide, simplifying cross-border operations and supporting business growth.

CIMB has partnered with PingPong Global, becoming the first ASEAN bank to form a two-way collaboration with the global payments leader. The partnership combines CIMB’s banking infrastructure with PingPong’s global network to enhance cross-border payments with faster, more secure and efficient services for businesses. Pictured here at the MoU are, (L-R) Lawrence Loh, Co-Chief Executive Officer, Group Commercial and Transaction Banking, CIMB Group, Novan Amirudin, Group Chief Executive Officer, CIMB Group, along with Robert Chen, Founder and Chief Executive Officer, PingPong and Jianqin Shu, APAC CEO and Group Partner, PingPong.