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LianLian Global launches cross-border supplier payments guarantee to China

Thursday 15 September 2022 11:37 CET | News

China-based cross-border payments provider LianLian Global has enabled online merchants to perform transparent, compliant, and safe cross-border payments to China.

 

LianLian Global's cross-border full value payments guarantee to China is a new feature introduced to the company's recently launched international digital wallet. The policy provides assurance that payments to China-based suppliers are delivered to the right bank account every time.

All payments on LianLian Global's end-to-end payments network are vetted and verified through LianLian Global's KYC capabilities, which support additional due diligence on customer profile checks. These checks mitigate payment risks and fraudulent transactions, while satisfying regulatory compliance in the Chinese market.

LianLian Global has enabled online merchants to perform transparent, compliant, and safe cross-border payments to China.

 

How it works?

Ecommerce entrepreneurs seek payment security across their supply chains to ensure their inventory succeeds internationally. LianLian Global's transparent payments guarantee to China guarantees users that their payments are received in the bank accounts of intended parties in every case, increasing reliability in the supply chains of merchants and ecommerce entrepreneurs.

If there is a problem, the payment is stopped and refunded immediately without waiting for multiple third-party correspondent banks. Customers also benefit from an added layer of robust security, speed, and competitive pricing. LianLian Global removes all the ‘middlemen’ or correspondent banks, eliminating payment delays and the additional costs to hold and send the transfer.

The demand for seamless payments

With more payments transactions being made on online marketplaces, there is a growing need for seamless payments that are reliable every time, particularly with big global economies. Between September 2020 and August 2021, third-party sellers on Amazon sold more than 7,400 products per minute, according to the press release. However, if payments fail, or are delayed through correspondent banks, online merchants risk losing significant revenue to competitors for each day they are out of stock, while a refund or payment cancellation is processed.

As the scale of ecommerce sales grows globally, LianLian Global aims to eliminate the risks associated with international payments. Due to cash flows change with ongoing economic volatility, LianLian Global offers ecommerce entrepreneurs the reliability for their funds.

The international digital wallet, or cross-border payments platform, launched in Q2 2022, is designed to make payments faster, more accessible, and cheaper than the traditional cash and bank transfers for ecommerce businesses.

About LianLian Global

LianLian Global is a cross-border payments company that connects local sellers to global opportunities. It makes it easy for ecommerce merchants to do more international business, so when sellers need to receive international payouts, get financing, solve shipping logistics, manage foreign exchange, or pay tax obligations abroad, the company simplifies the complexity of operating in other countries.

Part of LianLian Digitech, and with licenses and offices in the Americas, Europe and throughout Asia, LianLian Global is integrated into mainstream ecommerce platforms worldwide, with services covering more than 100 countries and regions.


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Keywords: cross-border payments, cross-border ecommerce, cross-border logistics, ecommerce, KYC
Categories: Payments & Commerce
Companies: LianLian Global
Countries: World
This article is part of category

Payments & Commerce

LianLian Global

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