Following this announcement, the companies are expected to combine their suite of solutions and expertise in order to improve cross-border transfers, drawing on Lianlian's global network and UnionPay International's MoneyExpress to provide fast cross-border remittance solutions for clients and users.
In addition, the collaboration will also focus on facilitating secure, transparent, and efficient international transfers, particularly for users remitting funds to China's mainland. In the B2B payment sector, the two institutions are set to deepen cooperation in online payment acceptance, digital card issuance, payout, and other services to facilitate cross-border payment for Chinese enterprises that aim to expand their products in overseas markets.
According to officials of the companies, the partnership represents an important step in UnionPay International’s delivery of cross-border remittance services in the European market, as the company will focus on providing users with a more efficient, secure, and convenient cross-border remittance experience, while further driving its growth in the global market.
Furthermore, the collaboration underscores Lianlian's commitment to simplifying the payment experience for both customers and partners alike, while also further strengthening its development process in the industry. Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
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