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78 <strong>LG</strong> OCTOBRE 2019 ÉCONOMIE PingPong serves up opportunities for its customers PingPong joined the Luxembourg financial ecosystem in September 2017, being the first Chinese FinTech to set up a European subsidiary in the country. What are the driving forces behind the company and its cross-border payments market? We caught up with Ning Wang, Chief Business Officer at PingPong to find out… The smart looking table tennis in the middle of the office is a fun nod to history, welcoming friendly matches. Ning Wang tells us about the layers of meaning behind the name gracing the wall. PingPong prides itself on staying nimble (to make an impact), meaningful (echoes of the famous match which led to the thawing of Sino-American relations under Nixon in the early 1970s) and global (the sport originated in Victorian England where it became a popular afterdinner parlour game, and was later adopted by Chairman Mao as a national sport in the 1950s). As the payments company looks to the future, it values the role of communication to break down barriers and seeks what it describes as true global citizens to match and champion its upcoming challenges in e-commerce. Game on. Congratulations on being added to the list of the world’s fastest growing FinTechs... Tell us about your back-ground and role at PingPong. I’ve always been in the payments industry, but sort of ‘bumped into’ it. After getting my MBA in the US, I joined PayPal and spent five and a half years there across multiple roles. It was growing fast and was able to accommodate me through different roles, from providing financial analysis for the senior management team, to being given the opportunity to oversee high growth markets and then to help scale them to become independent and local. During my last role at PayPal, I was sent to Shanghai to be the Head of Finance for the PayPal China operations and spent my last two years there. It was a great experience. I then very quickly joined Alipay, and became the first employee in the US tasked with building up its operations in the States for two and a half years. My know-how of opening a new market and building partnerships put me in good stead to build PingPong. It’s helpful to have experienced large foreign enterprises which had struggled somehow to do business in China and also a Chinese giant trying to expand overseas. I was also lucky that the timing was right to start and grow the business with my partners; and we’ve been going since February 2016. What has been your experience of the Luxembourg market and the broader regulatory environment? I was familiar with it before I physically got here - even before PayPal Europe existed - which I think is testament to how consistently Luxembourg has been working to attract global FinTech players. My first exposure to it was when I was analytical support for senior management at PayPal. They were deciding which country to land in in Europe, and which licence to get. Eventually they decided upon a banking licence in Luxembourg in 2010. Some colleagues that I knew back then got sent over here, and one of them is still here. After that first wave, Alipay decided to get a licence as well, while I was a part of the US team. In a similar pattern some of my co-workers were sent over here and which helped me to stay connected and receive updates. PingPong is effectively my third touchpoint with Luxembourg, and also happened to be the first time I came here physically, hence it’s a mixture of new and the familiar for me. During my career I sometimes find that while I am experiencing something new, there are recognisable connection points and overlaps. You could say that the connection to Luxembourg was pre-destined in a way. Copyright: Mike Zenari
<strong>LG</strong> OCTOBRE 2019 79 Ning Wang
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Octobre 2019 | n˚ 227 www.gemengen
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EDITO PAR MARTINA CAPPUCCIO La déi
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LG OCTOBRE 2019 5 TECHNIQUE & INSTA
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Besoin d’aide pour la rénovation
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positives sur notre économie natio
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ENSEMBLE, CONSTRUISONS UNE VIE PLUS
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your business advisors Energise you
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“Le logement est une cause nation
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LG OCTOBRE 2019 17 Concrètement, e
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EXPO OAI « MIR MAACHE LËTZEBUERG
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22 LG OCTOBRE 2019 IMMOBILIER & CON
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Julie Brassoud
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26 LG OCTOBRE 2019 IMMOBILIER & CON
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