CIMB and PingPong Partner on Embedded Cross-Border Payments, Cards, and Lending

CIMB Group and PingPong signed a Memorandum of Understanding on Sep 22, 2026, making CIMB the first ASEAN bank to enter a two-way partnership with the global payments company. The deal integrates CIMB's banking infrastructure with PingPong's network to deliver cross-border B2B payment services. Businesses will receive payments in over 20 local currencies through virtual local accounts, hold funds in multi-currency accounts, and convert currency without costly cross-border fees.

Malaysia will serve as the launchpad, followed by phased rollouts into Indonesia, Singapore, Thailand, and Cambodia. CIMB will also provide a merchant financing solution for PingPong's SME and corporate merchant base. White-label SME card solutions and merchant acquiring services round out the embedded banking offering.

The partnership spans payments, lending, and cards delivered through PingPong's platform across Southeast Asia.