Pawel Stosik (PingPong Payments): Bringing Next-Generation Infrastructure To Alternative Investments
Good payment systems and infrastructure are crucial to effective business. For Pawel Stosik, General Manager for Europe at PingPong Payments, getting them right means taking a bold new approach.
What does PingPong provide?
PingPong arrived in Luxembourg in 2017, on a mission to make international money movement simple. They quickly learned how difficult it is for global investment vehicles to open accounts. “I specifically don't say bank accounts,” Stosik explains, “because there's a common misconception that only banks can do this, which is inaccurate.” The CSSF authorises other players to open accounts for investment vehicles, including PingPong, which was granted an EMI licence in 2020. The company now has the right license, the right banking partnerships, and everything else it needs to support global investment vehicles in Luxembourg. “Whether you're a GPNSCSP type fund or a securitization vehicle, we can help those structures get up to market quickly.” PingPong has launched InvestXB, a next-generation infrastructure solution for the alternative investment sector, delivering fast and compliant financial solutions designed for investment professionals launching and operating investment vehicles in Luxembourg, with the capability to support investors and assets globally. What’s more, it can do it within 24 hours, a game-changer for investment vehicles in Luxembourg with global investors, and solves a real problem for the sector.
Why does Luxembourg need another payment provider?
In countries such as Ireland, Poland, and the UK, a business can set up an account in minutes online. In Luxembourg, things are different. “The opportunity for PingPong is to solve that problem with technology,” Stosik says. “This is where our competition often falls behind, and we stepped in to build a next-generation infrastructure solution for alternative investment managers, administrators and corporate solutions providers in Luxembourg.” A tech-driven company leveraging proprietary systems and AI integrations, PingPong can speed up processes others do slowly or not at all. By moving actively into the investment space, they aim to support alternative investment managers, administrators and corporate service providers in Luxembourg by opening accounts within 24 hours and issuing blocking certificates in minutes. “Obviously, Luxembourg is an amazing place,” Stosik continues, “the second largest funds hub in the world, but it is at risk of stagnating.” PingPong aims to remove that risk.
“Our mission is to make money movement around the world simple. InvestXB's global capabilities truly set us apart in the Luxembourg market.”
How can payment be done better?
For Stosik, the solution lies in combining PingPong’s leading payment technology with Luxembourg’s position as a go-to place for investments. While PingPong might be a relatively new arrival in Luxembourg, it is tapping into years of experience and significant scale globally. To date, it has 37 offices worldwide, over 60 financial licences, and over $250 billion USD in TPV. “We have people who have been operating in this space in Luxembourg for decades, so real experience, real understanding of what our customers need,” Stosik says. “If our customers want to have a coffee with us, that's not a problem because we are local.” But that relaxed and friendly approach combines with rigorous professionalism. PingPong treats compliance not as a problem but as an asset. The company falls under the same rules as everyone else, but looks at how to execute them in an innovative and effective way, so that it can open accounts and support clients within twenty-four hours. As Stosik says, “This is our competitive advantage.”