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Pay E-com Suppliers - How To Leverage Creative Amazon FBA Payment Options
April 22, 2021
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[00:00:01] spk_0: Welcome to the seller roundtable e commerce [00:00:04] spk_2: coaching and business [00:00:05] spk_0: strategies with and er not and amy Wiis. Yeah guys I think we are alive. What's up everyone? Hey, so we have three of the biggest chatterboxes on the internet. Not hiding it from here. Exactly welcome everyone if you haven't had coffee yet. We have so we're ready to go. So you guys, I am here with Ryan and Antonio from ping pong payments and you know me and Ryan have been hanging out lately and talking, there's so many payment providers out there and each of them does something different and we should know what our payment provider options are and what benefits each of them has so that we can do all the things we need to do with money in our business. And so I was talking with Ryan and I was like what is the deal? There's so many payment providers out there, tell me what is so special about ping pong and and he gave me a whole bunch of really cool things that ping pong does and um in terms of like even paying your V. A. S. In the Philippines like there's so many cool things you can do and it's free and you can set it up in a few minutes and it's like so cool so we're gonna get into it. I guess we can start with what is ping pong. Tell us a little bit about ping pong. Yeah, Tony join me do it or do you want me to? Yeah so so welcome everyone. Thanks for joining us live. He probably saw me recently. I'm the chatterbox of the group like Amy said uh so ping pong has been around for close to six years now where I think of us like a global wallet. If you will like a digital bank account you can set up in lesson five minutes. Like Amy said the old way to kind of do business and set up bank accounts for e commerce sellers is Amy told me the same story. You used to have to travel to the country, you'd have to show your identity, you would have to wait there a couple of days, you have to establish a local entity as like your representative for your business and then you would potentially be able to open a bank account there on top of that. Then you're having the same fees with sending and receiving money. It's really hassle and it's time consuming. So our company actually developed a technology to be able to let me go ahead, stop you there because this is a question I get all the time. I have a bank account in china and I had to go there. I had to go there and set it up and it's all in it's all in their local language which I don't read or speak mandarin. So I had to get help from some of my chinese friends there. I had to have a china phone number so I had to get a sim card there. I needed an address. I had to use my passport. All that stuff right? And just like you said Ryan it was convenient because while I'm in china I can pay you each other. I can do all the things which is really awesome. But it's still not easy to use that bank account to pay my suppliers because I still from the U. S. Have to try and communicate with those funds. And it's not like my us based account where I'm just like oh yeah here's the routing number and here's this you know I can call up my U. S. Bank and say yeah I'd like to send a wire transfer. Here's all the information. Try that in china. It's fun just to the english menu you're like what? So when you said like you don't need a bank account there you can still pay an R. And B. Using your existing bank account however you want to do that. You can you can do it very quickly and easily. So I was like oh well that's another thing. People are always asking me how do you set up a bank account in china? So this is an alternative for you guys. You know if you're wanting to pay an arm and the benefits of paying your supplier in their local currency is that you can negotiate in that local currency. You can get often lower prices. Um And so yeah sorry didn't mean to interrupt your your son is really good, but you're hitting hitting it. Yeah, you're hitting on him the name of the game basically everyone is like saving money and it's going directly to your bottom line. Like nothing that we do is going to be anything that's like but wait, there's like more things headed, what we do is all transparent, it's all up front, it's just more of an ease of use and service, which is what a lot of technologies tried to do. But obviously you're in business and you try to, you know, you try to make money and there's ways that we make money, but it's like I I think it's fantastic how how we operate as a company. But what it is is a process. You go to our website, it's free to sign up, which is the first barrier to entry that a lot of people hate. There's no there's no minimum requirement to also use us. So if you're a tiny Seller, If you're selling just a couple $100 Uh internationally or if you're selling 678 figures internationally, we work with everyone. Um so it's free to sign up and you go through a process called Ky see or know your customer. It's basically verifying you are the entity you say you are like I'm an individual seller, I am and I have a global LLC. We verify you with your like tax ID number or your social Security number and we verify all that information and then once that's approved which takes typically same day. If not sooner we can we can obviously expedite all that stuff. You get access to that local digital bank account, you get a routing number, you get an account number and you can actually open up bank accounts to receive money from our 10 currencies that we offer from. And you can send it over 160 currencies, Two different uh two different countries. So and one of them, and two of them being R. And B. And C. And Y. For sure. Yeah. And you guys are, what fees are there for doing this? Yeah. [00:05:59] spk_1: We have a maximum one transaction fee. And that fee is only taken when the money exit the system, right? So when you go, we put money into the system. We don't charge if you're uploading from bank account to put money in. Um or if you receive money from the same Amazon, we're not charging anything there. But when you withdraw it to your bank account, that's when we'll charge, right? So typically so you're selling in Canada, you receive Canadian dollars, you we converted to us dollars for you when you withdraw it, that's when that one happens. [00:06:26] spk_0: And you're going to hook our followers up with some kind of cool thing, right? Of course, yeah guys, no problem. So when we say 1%, that's the maximum you'll ever spend. Like if you're, if you start using us more way more than that on paypal. And so that's so that's the thing is when you're paying, so this is what we'll talk about a couple of things guys, we'll talk about receiving first because receiving everyone likes receiving money, right? Let's get, it's the time of year where you receiving gifts and things like that. So our gift to you is that the first month that you use ping pong? It's 0% in any kind of ping pong fees that you're paying sending or receiving. That's our promise to you. You can use this as much as you want. You pay your suppliers, you received from different marketplaces as much as you, you know, theoretically want and you're going to get no ping pong fees. And obviously we, we want you to use us because we're service that we're growing here in the United States were huge internationally. We're big in europe, were big in china, were big in India. We have offices all over the world to help with customer service issues. And even with paying suppliers, we'll talk about the sending side of things as well. Sending money is also important now because you're starting prep for 2021 you're starting to pay your suppliers to get those goods over here. Uh If you're in the United States or wherever your F. B. A location is, you need to pay the supplier. So lots of people, you can start going to your supplier and say, hey if I paid you in local currency, uh in India or in C. N. Y. Or R. And B. What if that would that save me a couple of percentage points on whatever my invoices more often than not. Almost all guaranteed. They're going to say yeah of course we're going to just not go ahead. Well what about the people signed? This is going to be a big question because this is the common thread and all the facebook groups. People are saying, well maybe except for amazing at home because we're always saying like just you can pay your supplier with your bank account. It's okay. You don't have to pay on Alibaba. But that's the question. People feel like if they don't pay on Alibaba that they're not protected so is you know how does that work? Most people say well I'm going to make sure that I pay on Alibaba because then, um, if I need to open up a claim, I can maybe get my money back and it's all there on Alibaba. But what ends up happening in most cases, people think that people think that if they pay on Alibaba and something happens, they'll be able to open up a claim and everything is going to be fine. But in most cases, you need some kind of contract in writing that whatever went wrong, right? Let's say your goods are messed up or whatever happened, you need some kind of contract in writing in order to file that claim. So, Alibaba is not going to grant you your money back if you have nothing in writing with that supplier. So it really doesn't do you any good to pay on Alibaba anyway. Um, if you don't have proper contracts with your suppliers. That being said, if you have proper contracts with your suppliers or anything in writing, in terms of going by that law of that country, it's going to be much easier. That supplier is going to be much more willing to agree to giving you some kind of refund or whatever because they signed that they agreed ahead of time. It's not like you're just suddenly hitting them going, well, I'm not happy with this. Well, if you never gave them any kind of upfront expectations or anything like that, So do you guys have anything in terms of that? You have any advice in terms of the people that are really wanting to pay on Alibaba? [00:10:12] spk_1: Yeah. So, I mean, honestly, we don't have that kind of safety net, Right? So if you're paying your supplier from us, we're not gonna be able to go back and file a claim for you because I just said that's what we have. I always tell people. So I actually lived in china for about seven years on the sourcing and manufacturing side. So a lot of experience there when I talk to people were thinking about doing this, I said listen, how long have you had that supplier? Is there someone you trust? If it's someone you trust, go for it. If you don't trust them, continue using Alibaba because then you have that insurance that you're going to pay a premium for it. But let's stay that route. If you're if you're fearful, um I would use us. Similar if you're gonna if you trust them and you would wire the money then use ping pong instead. Right? So yeah it's a trust factor and the more you had orders with them get to know them. Hopefully you've gone to china and visit them or they've come to the U. S. And seeing you. You know that's important right? Once you've had that face to face interaction or in respect of the factory, the chances of them, you know, screwing you over are minimized. Very very much so. [00:11:10] spk_0: Exactly. And I agree with you Antonio it's like if it's just a test product and you're just order, that's the smartest thing to do is go ahead and order on alibaba. Have as much as you can in general in writing. As long as you have chats back and forth or emails back and forth, you can always do that. And so you can always submit that as part of your claim if something were to go wrong. Um So you do have that safety net but great advice there. I mean yes why not? Once we have the relationship with our supplier, utilize other payment systems if we were going to use our bank account anyway. 100%. And that's the thing. Uh [00:11:51] spk_1: one common question I get, you mentioned something earlier people, you said, hey, if they're paying them in local currency, you'll get a discount of invoice. So a lot of people push back on that question say, why would that ever happen? You know, they want dollars, They get dollars. All. I mean you're not realizing is that, you know, They're factoring in anywhere between 2-7 for currency exchanges, right? Because you're going to send it to their bank of China or bank of whatever account in dollars. I mean they might be able to keep some of it in dollars, but most of it will have to convert our and because they have to pay their employees, the banks are not going to give them very favorable rate. I mean unless they're doing just absolutely mad amount of currency, they're not getting a great rate for changing that U. S. Dollar to C. N. Y. R. R. And B. Right? So that's why. And I always tell people like when you do talk to your supplier make sure you make it clear that you're expecting to discount because if you just say hey I wanna pay you an R. And B. You know, most actors say okay great, they have to take that that usd price to you. Just convert it directly and say okay we'll take that extra money. So I think you have to make it clear like hey I'm gonna pay you an R. And B. But you know, I do discount on my invoice, what can you give me [00:12:55] spk_0: and then the great tip. So let's transition a little bit because there's many providers that we pay as business owners. So we pay sometimes a sourcing agent, we pay rvs. What if I have a V. A. In the Philippines right now I pay um one of my v. A. S in the Philippines, I pay her via Paypal and the fees are insane and the transaction rate is not that good. So what does that look like when I do that via ping pong? [00:13:26] spk_1: Same thing. So it would look exactly the same as if you were paying someone in china except for instead of choosing location as china, you'll be choosing the location as the Philippines and you would get their bank account information. They would give you an invoice, you know, for their time. Um you would give us an invoice number and you know, we would do Ky cnR side checking that the bank account matches the name on the invoice. And yeah, and then you would pay them out in, you know, from your account into PHP, which is the Philippine peso. So yeah, they would receive the PHP into their account. Um We have roughly a mid market rate. It's not exactly a mid market, it's really typically really close because we're not adding a spread there and we have a currency team that's constantly buying and trading currencies. And then yeah, we would take their one when that money left. [00:14:11] spk_0: So you chat. So every time we send money we need an invoice from them. Just the [00:14:17] spk_1: first time is when we do the cave. I see, Right. That's that's what, that's when we tried the [00:14:21] spk_0: first time you send the money. But every time after that you don't need to provide it. It's a drop a drop down in our dashboard, you [00:14:29] spk_1: would provide an invoice number. Um But that's it, Right? So that way there's a there's a reference number because I'm like, like a bank, we have to protect ourselves against money laundering and things like that, right? So that's why we strictly work for businesses. So, I mean, we're not gonna, we're not like, say Venmo for international people, right? You can't just send, you know, you know, 400 bucks to person X in in India, we need an invoice number behind that. Okay. Yeah. But I mean we pay out, like Ryan said, over 100 different currencies, Philippines is a big one for vis a vis India as well. Um I know that Pakistan is a big one as well, I think that actually goes live either at the very end of this month or early next month. Um But yeah, so we have a lot of people that don't only just use it to pay for suppliers, but a lot to use to pay via s and employees and freelancers. [00:15:14] spk_0: Yeah. VHS advertising agencies, if you have like a freelancer um any factories that you have ever seen or any kind of like warehousing, everything's fair game. And this is not just like obviously in ASia and china, this is literally anywhere in the world. This is also if you're an international seller and you have the same issues with the United States, you're sending money in the United States, you're paying your employees and we're basically like sending and receiving money. If there's a concept behind it, we're going to work with you and on top of amazon if you're if you're big enough and you actually want to have a diversification schedule, sorry, this super bright here today, I don't want to watch out. But if you if it's if you're big enough um and you're selling like on a Shopify or Iraqi team or any of those other marketplaces, we also support those marketplaces. So you can see in if I'm selling on amazon UK or amazon Germany or a U. D. You can see how much money is coming and going in each currency in an each different market place. Like it's pretty even we focused on mostly us right now. But what about all of our overseas sellers? So people who live in India or live in Pakistan or live in Australia and sell in the U. S. Market or sell in the UK market, what does that look like for them? You said you're connected to amazon as well? So they can see those, you can ask amazon to pay you to [00:16:43] spk_1: your that's kind of what it is. So if you're You know based outside of the country that they're selling into um we can give you the called virtual bank accounts and that local currency, right? So we can do 10 different currencies basically all the major Amazon markets minus say Sweden Saudi Arabia in Brazil. Um So yeah so let's say you're an Australian seller selling us, we'll give you most likely a Citibank back to bank account which you would that be a US dollar account that you would put into your amazon seller central in the US. So amazon would pay you out in the dollars and that those dollars would go into your ping pong dashboard, you would see that and then like a, I want to transfer all of it to my Australian bank account. You can withdraw it all or you can say I want to keep some of it is I have to pay tax or I want to use it some pay suppliers. Um Yeah that's that's kind of how that works. But yeah we can um that's kind of like the biggest side of the business right now is helping people receive money internationally because right now if you're using say amazon's built in service, you're getting overcharged and also you have no flexibility because they automatically do that conversion right away. [00:17:45] spk_0: Yeah. So how explain that, explain how you're getting overcharged. So let's say me I'm selling in the UK, let's say that, how am I getting overcharged with my setup? [00:17:58] spk_1: Sure. So right now if you're in us and you only have us bank account, you're selling in great Britain, you're gonna put your us dollar bank account in your amazon UK seller central. So what amazon does is that you see your dispersement as you say £100,000. Um And then they'll actually automatically convert that and then you'll receive X. Amount of dollars in your statement. We'll see how much money you receive. So they're actually adding in a spread into that fx rate. Right? So let's say it's one point the mid market rates $1.3 to £1 Amazon is really going to give you like 1.25. I mean they're gonna they're gonna add anywhere between two and 4% depending on your volumes. Um so we give you a mid-market rate so we're not gonna add anything there but we're gonna take a maximum one transaction fee. [00:18:45] spk_0: So what you're doing instead of putting your U. S. Bank account in your UK seller central payment account you're giving them your ping pong account in the U. K. Right? That that virtual bank account right? And then they're able to pay you in that local currency and you're not losing out on them converting it however they want to convert it. Did I understand that? Right? Yeah. And guys on amazon to they will pay you out every two weeks just like they do in the United States and they will convert it every two weeks just like you know just like getting paid. So if it's a really bad rate going on right now and amazon is not going to care, they're going to still convert that money for you and send it back with ping pong. You can actually hold on to that money in that currency and hold on to it say for example I want to keep it in europe um Are in the euro. I can hold on to that money until it gets to a certain threshold. And you can set rules and regulations to say, all right, once it hits a certain threshold, like €20,000 or something like that, then I want to convert like you can sit all those different things and hold on to it. Or if you're just want to pay an entity and euro instead of transferring back to United States dollar and then transferring back to the Euro, like you're you're hitting those rates multiple times. And with banks or anything like that, you have wire transaction fees each way you go there with us. You can just hold onto it and for any day if you want to like almost like a security. Like if you [00:20:08] spk_1: think this is also key to a lot of people don't think about VT payments in the UK and europe. So you have the 80 payment right? Also if you're selling into Canada, you have GST or HST depending on the province. So right now if you're using like amazon services and you're selling the U. K. You know that £100,000 they immediately, you know send it to your U. S. Bank account converted the other dollars. But you're gonna have to pay the V. A. T. Which is roughly 20%. Right? So you're gonna have to convert back to pounds to then pay that. But with [00:20:37] spk_0: us uh [00:20:39] spk_1: 100,000 saying, hey I just wanted to draw $100,000 on my back payments up. I can pay directly to the vat authority from ping pong. So you're not double converting, you're not losing money twice it's just there [00:20:50] spk_0: and that's free to do and that's free to do, paying via T authorities is free to do in our service. So your so your accountant if they are paying those kinds of fees or they're paying that for you, they can log in and they have a sub account. You can create sub accounts within ping pong too. So if your accountant just has access to pay out via T. Authorities they can do that within ping pong account and that's it. Okay so one more scenario for you. What if I'm based in the US and selling in the U. S. Other than paying my suppliers? Right? And paying my, is there anything in the U. S. That is more affordable with ping pong? [00:21:31] spk_1: I would say Not really. Right. I mean I think you're gonna if you're getting your dispersing from amazon us and going to U. S. Bank account you could use us just so you have everything you want dashboard. But the reality is it's just going to delay your payment by probably one day. [00:21:47] spk_0: So my [00:21:48] spk_1: Mom, this is this person the 14th, you'll see it on the 14th. You'll tell ping pong, give me my money on the 15th, you'll get it, we'll take a dollar 50 because it's an A C. H. Transfer so we cover that charge. So really just add time. I'm sure the company would love for me to say, oh yeah you should definitely do it. [00:22:04] spk_0: But where its value, where I'm seeing the value in that is if paying my overseas suppliers and stuff like being able to kind of hold that in and outside currency and having those virtual bank accounts when I do decide to go to the UK and all of europe and sell, especially with Brexit just happening recently. Like it's really good to be able to kind of split up that money and and do that. And so those folks that are in the UK and are having to set up accounts outside of the UK right now to sell in the rest of europe, ping pong is a great option for them. That's awesome. So did you guys want to give us, we've been going for a little bit now but did you guys want to give us a quick demo just to show us what it looks like? Yeah. Let me just make sure that I have the There we go. Yeah go ahead. [00:22:57] spk_1: Perfect. Can you see my screen? [00:22:58] spk_0: Yeah I got you Tony. [00:23:00] spk_1: Here's just a quick uh this is our dashboard so I have nine different, these are all virtual bank accounts that I can receive currencies in. So these are our nine main currencies and then their 10th one is the Hong kong dollar. Um I mean this is kind of cool because we're one of the few companies that does the U. A. E. Currency which is the E. B. Um You know that markets exploding? So I mean [00:23:21] spk_0: yeah we were just talking about that with Yana cricket earlier on the seller roundtable. We were talking about how that market is so incredible. So being able to have that currency would be so great. [00:23:34] spk_1: So great market uh you know setting up a bank account and the idea is they're very difficult. So yeah same thing with Singapore um We can get to Singapore dollar also market. That's that's that's going really well as well. [00:23:47] spk_0: Um just Tony. Let me clarify these are all the ones that you guys can receive currencies and not pay in currencies like the paying and currencies. There's 160 different ones. So this is where you can actually just receive in these currencies. Okay and another [00:24:04] spk_1: function is so let's say you're you're based in the US. You only want to use us for paying international suppliers. You don't want to hook up your amazon bank account. How do you get money into the ping pong system? We have something here just adding funds. So you would give us your beneficiary bank account which you would attach this. That would be your your home bank account of your bank with. You would click on this add funds button. So this is like my of course I was in it too long. Right? [00:24:31] spk_0: That's why those password cover up stars were created [00:24:37] spk_1: so I can add funds directly from my bank account. So this is kind of like my fake pink account that I created. So I would put it like a canceled check or bank statement and I would, you know, top up as much as I needed to top up. So I had money in my top to pay suppliers. Uh and that would come come on once I did that, you would see it here under the U. S. Dollar. We have a function actually called we call it be pocket. Um So that's money that's you've put into the system versus it's come from an e commerce channel. Um So the cool thing that your your people would want to see is are are sending function. So as you see we can send it to that authorities. So we're gonna changes to tax authorities. Can we do more than that? You do V A. T in europe UK? We can also pay Canada GST HST uh Tax and United Arab Emirates. United Arab Emirates. And if you're based outside of the US and need to pay your state tax authorities, we can do that here as well. Um, but more important, so this, we have our two recipients into suppliers. So this is where you would pay to, you know, suppliers overseas to VHS, the freelancers. Um, so if you wanted to add a new one, pretty simple process. Uh, you can have, you have two choices. You can pay directly their bank account. Or if you get them to sign up for a ping pong account, you can pay them to their ping pong account. And if it's ping pong, ping pong, the, it's instantaneous, I guess to them within 10 minutes with bank account, it's typically there within 1 to 3 business days, The first one takes a couple days longer. But moving past, that's yeah, one or two business days once you get going. So yeah, you put a person's name in the type of recipient. So, you know, procurement would be for product supplies, no logistics, advertising, freelancers and more. So it could be operating agents so they can employee, um, you put their location a lot different locations and then nickname And down here you put their contact your phone number and then the next step you would add their bank account. That's when our company would do a little bit of a compliance check. And that's when I, when I was telling you earlier, um, they, we would check that the account name matches the name on the invoice to the person. So that way, I don't know, I mean if you send a lot of wires in your life, if you transpose a number, you're just, you know, two weeks of sitting in limbo and then fighting for another two weeks to make sure there. So we kind of alleviate that situation. So once you have a person in there they're ready to go they'll they'll be in your drop down. So here's a china supplier I want to pay. So you'll see that we have it. It's in Cnh. All right so the RMB, the C. N. Y. Same currency C. N. Y. Is like the official name chinese U. N. R. And B. S. For like the chinese version which means renminbi which means the people's money. Cnh is chinese money that's held outside of china is like in a Hong kong bank. So that's why you see Cnh and not C. N. Y. So here yeah so this would be my chinese supplier I put in my you know my invoice number go next how much money I want to send to them? Obviously I have to have enough money in the system to pay to them. But yeah 5600 R. And B. From my account balance. Uh So it's gonna say you're getting 806 $6 deducted. I put in my six digit pin that I created and then we have a two step verification so it'll ping my cell phone. I put that in there, I would submit. Uh Then you get little reference number. And yeah your supplier should have that money within 1-2 business days. But yeah it's done [00:28:05] spk_0: very good. Another [00:28:06] spk_1: cool function that also I mean some people have multiple suppliers they want to pay at one time. So we have that function where you can download an excel, put them all in there and then upload it so it all goes out at one time, you're not going one by one by one. Yeah I mean that's more or less uh system, it's super easy to use um And yeah, once you, once you got your suppliers in the system you could just all you need. Is that invoice number and you're good to go [00:28:29] spk_0: very good. Makes sense? Okay, well I think that's it, I think we pretty much [00:28:38] spk_1: covered [00:28:38] spk_0: every aspect, you know? But why don't you guys tell everyone I put in my link, I get you guys a little extra discount, so I put in if you go to amazing at home dot com slash resources, those are all of our trusted resources and um so you can click on ping ping pong there, but why don't you guys tell them if they have any questions, what is the best way to go about reaching out to you? [00:29:10] spk_1: You got it Right. [00:29:12] spk_0: Yeah. So we have support at ping pong x dot us is our support line. But I will, I will give you my personal email like this is one that will come directly to me, You can actually reach out on facebook or linkedin. I am open all to chant all the channels so you have more than happy to connect you with our customer service slash sales team. I'm the person who's just kind of like the, the face of the company, if you will are like the people, person who talks to us from our company uh just like educating people and want to help people save money when they're building their e commerce business. So my email is Ryan r Y A N dot Cramer and that's C R A M E R at ping pong x dot us. That comes directly to me. I will make sure that you're given like white glove treatment to be able to set up because it's super, super scary guys, you don't want to mess with money. And I understand that changing things in amazon, you're like, I don't want my listening to be taken down. We have a step by step guide that says this is when you should change bank accounts, so amazon doesn't flag you. Um this is the easiest way to get the best rates and we work with you in terms of like how much velocity you think you're going to do and we will work with you on those rates again, maximum 1% if you're doing things like Paypal or you're paying people like that and it's 56%. Think about that, that margin that you're just throwing to your bottom line to invest in inventory, investing yourself or invest in like advertising, anything, literally anything [00:30:37] spk_1: I like to invest in yourself. [00:30:39] spk_0: Yeah, investing yourself. Take a Spa day like Amy is going to do right on friday. I'm so do for one it's been I usually take one every other friday so but yeah you have to treat that's why yeah, that's why everyone's doing this right. Like why wouldn't you take money that's rightfully yours and save it or put it in yourself and just like those little fees, those little fees definitely add up. Well thank you guys so much for being here today and for telling us about another payment provider out there that helps us and you know there's like I said there's so many but it's really good to know what those differences are and how we can use it. I love the idea of the dashboard especially for those people that are looking to expand because lately we were talking with Yana from Wild tea the other day and she said everybody is expanding I guess there's no inventory limits overseas And so like everybody is just like we'll just send all that inventory to Germany your sunday. So I mean how great is because that's just one more hurdle that you've overcome by being able to get paid in those currencies and pay your taxes and those currencies and all that kind of stuff. So very good. Thank you guys so much for being here and everybody check out, check out ping pong payments and let us know if you have questions. All right, we'll talk to you soon. Bye everybody. Thanks for [00:32:03] spk_1: tuning in, join [00:32:04] spk_0: us every Tuesday at one PM pacific standard time for live Q. And A. [00:32:08] spk_1: And bonus content [00:32:09] spk_0: after the recording at cellar round table [00:32:11] spk_1: dot com, [00:32:12] spk_0: sponsored by the ultimate software tool for amazon sales and growth seller S. C. O [00:32:17] spk_1: dot com and amazing at home dot com.