Winvesta vs. PingPong: Which saves more on global supplier payments?

Global eCommerce sales are set to reach an impressive $6 trillion by 2024, making efficient international payments more crucial than ever for businesses. When it comes to Winvesta vs. PingPong, these platforms are changing how companies handle their global supplier payments.

While PingPong has processed over $90 billion since 2015 and serves more than a million merchants, Winvesta offers payments across 180 countries in 30+ currencies. Both platforms aim to solve a pressing problem: traditional international payments are often slow and expensive, with suppliers waiting up to 92 days for payments in some regions.

You might be wondering which platform offers better value for your business. Winvesta provides local account details in 4 foreign currencies and delivers payments in as little as one day. However, PingPong has built a robust ecosystem specifically designed for eCommerce sellers and their suppliers.

Let's compare these two platforms to help you make an informed choice for your global payment needs. We'll examine their features, fees, processing times, and geographic coverage to determine which option could save you more money on international transactions.

Platform overview and key features

Winvesta's global payment infrastructure centers around its multi-currency account system, offering local bank details in the US, UK, Canada, and SEPA regions. The platform processes payments from 180 countries across 30+ currencies, enabling businesses to receive funds through domestic transfer routes.

PingPong's supplier payment ecosystem stands out with its extensive network covering 71 countries and 266 payment methods. The platform has processed over INR 16876.09 billion in transactions and maintains certified global licenses with accredited banking partners. Furthermore, PingPong supports 170+ local payment methods and enables businesses to hold and convert 25+ currencies in their wallet.

Both platforms offer robust multi-currency account capabilities, but with distinct approaches. Winvesta provides:

• Local collection accounts in USD, GBP, EUR, and CAD with zero receipt fees
• Dedicated SWIFT/Wire support for 30+ additional currencies
• Fund tracking and management through a unified dashboard

Additionally, PingPong enhances its multi-currency features with automated KYC checks and volume-based FX discounts. The platform enables local payments in 40+ countries and maintains open accounts in 18+ regions. Notably, both services prioritize security through advanced encryption and strict verification processes.

Fee structure and pricing comparison

Understanding fee structures can significantly reduce costs for global payments. Winvesta charges INR 253.14 + 0.99% per USD transaction, primarily targeting businesses seeking economical international transfers. For other currencies, the platform applies a 1.25% fee plus a fixed amount that varies by currency.

Transaction fees breakdown

PingPong maintains a straightforward 1% withdrawal fee for transfers to Indian accounts. The platform charges vary based on payment methods, with bank transfers offering the most economical option. Winvesta's structure includes specialized rates - EUR/GBP transactions incur a 5-unit fixed fee plus 1.25% per transaction.

Foreign exchange rates analysis

Winvesta stands out with 0% forex markup on transactions, setting it apart from traditional banks that typically charge 1.5-3.5%. Moreover, the platform offers volume-based discounts for businesses with high transaction frequencies.

Hidden costs and additional charges

Both platforms maintain transparency, though certain additional fees exist. Winvesta applies 18% GST on non-USD transactions. For SWIFT transfers exceeding USD 10,000, Winvesta charges USD 30 + 0.5%. Particularly noteworthy, receiving money through SWIFT/Wire incurs a USD 10 fee. The platform essentially eliminates setup and monthly maintenance charges, making it cost-effective for regular users.

Payment processing and settlement

First, speed and efficiency define the success of international payments. Winvesta processes most transactions within T+1 business days, ensuring quick access to funds. In contrast, PingPong offers same-day and next-day settlement options within its network.

Processing time comparison

The standard processing time for Winvesta transfers is 36 hours for European transactions. PingPong streamlines the process through instant settlements within its network, although processing times may vary based on payment methods and regions.

Settlement options and speeds

Both platforms offer distinct settlement advantages:

• Winvesta delivers funds to Indian bank accounts within 24 hours after withdrawal request
• PingPong provides instant settlements for in-network transactions
• Regular bank transfers through PingPong follow standard processing times

Payment tracking and notifications

As a result of advanced tracking systems, Winvesta enables you to monitor every step of your payment journey. Together with real-time status updates, you receive notifications about expected settlement dates upon creating a payment. PingPong offers similar visibility through their History bar, where you can track fund flow and payment status.

The platforms maintain different approaches to transaction monitoring. Winvesta's dashboard provides detailed tracking from initiation to final settlement, whereas PingPong focuses on instant settlement confirmation within their ecosystem.

Geographic coverage and currencies

The global reach of payment platforms shapes their effectiveness for international transactions. Winvesta connects businesses to over 180 countries through its payment network, offering local bank details across major economic regions.

Supported countries and regions

PingPong maintains a strong presence with support for payments in 41 receiving countries. The platform holds 60 financial payment licenses across major economies, including China, Hong Kong SAR, Europe, and the US. Meanwhile, Winvesta focuses on enabling Indian businesses to receive payments from a broader geographic spectrum.

Available currencies for payments

Winvesta supports transactions in over 30 currencies, with dedicated local transfer details in USD, GBP, EUR, and CAD. Consequently, PingPong offers a wider currency portfolio, allowing users to:

• Hold and convert 25+ currencies in their wallet
• Accept payments in 50+ currencies
• Make transfers to 195 countries

Local payment methods

PingPong primarily excels in payment method diversity, accepting 170+ payment options globally. For Indian users, PingPong processes payments in six major currencies: US Dollars, Euros, British Pounds, Canadian Dollars, Japanese Yen, and Australian Dollars. The platform supports payments from various marketplaces and platforms, including Amazon, Udemy, Upwork, and Google Play.

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Moving forward

Both Winvesta and PingPong offer strong solutions for businesses handling international payments, though each platform shines in different areas. Winvesta stands out with its zero forex markup and quick processing times, making it ideal for businesses prioritizing cost-effective currency conversions. PingPong excels through its vast payment network and same-day settlement options, particularly benefiting eCommerce merchants with high transaction volumes.

Your choice between these platforms should align with your specific business needs. Consider Winvesta if you primarily need local account details in major currencies and value transparent pricing. PingPong might better serve your needs if you require diverse payment methods and operate across multiple marketplaces.

The final decision depends on three key factors: your transaction volumes, preferred currencies, and payment urgency. Winvesta's T+1 processing and competitive fees are good for regular international transfers. PingPong's extensive marketplace integration and instant settlements suit businesses needing quick access to funds across various platforms.

Remember that global payment solutions continue to evolve. While both platforms offer reliable services today, staying informed about their feature updates and pricing changes will help you maximize your savings on international transactions.

Disclaimer: This guide provides general insights into payment platforms. Before making decisions, verify details with providers. We assume no liability for financial outcomes or platform performance.

Contributed by Denila Lobo

Denila is a content writer at Winvesta. She crafts clear, concise content on international payments, helping freelancers and businesses easily navigate global financial solutions.