As its U.S. counterpart readies to launch a new online marketplace, Best Buy Canada is expanding its own marketplace with the integration of cross-border payment service PingPong. With this move, Best Buy Canada will be able to open its marketplace to international sellers, facilitating payouts in more than 100 currencies.
“Our new partnership with PingPong is a key part of our international growth strategy,” said Sherry Zah, VP of Best Buy Canada’s marketplace business in a statement. “PingPong’s global network and ecosystem will unlock new revenue streams for us as we look to expand our marketplace to new international sellers.”
Best Buy Canada has operated a third-party marketplace since 2016. That same year, Best Buy U.S. shut down its own marketplace, but the company now plans to launch a new version later this year. Both the Canadian marketplace and the new U.S. marketplace are built on the Mirakl platform
“Our work with BestBuy Canada is a testament to our capability to help businesses scale globally,” said Alex Chen, VP, APAC and Head of Global Partnerships at PingPong, which also is used by the marketplaces of Wish and Wayfair, among others. “With hundreds of thousands of customers using PingPong’s ecosystem worldwide, we are uniquely placed to power cross-border payment services for enterprises of all sizes. We are excited to work closely with BestBuy Canada and drive long-term revenue growth for the business.”
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