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September 14, 2022 - LianLian Global, a cross-border payments service provider, announced the introduction of the world's first cross-border payments guarantee to China.
LianLian Global's end-to-end business payments network and Know Your Customer (KYC) process enables the company to provide customers with cross-border payment options to the country.
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 payments network are vetted and verified through KYC capabilities to provide due diligence on customer profile checks. As ecommerce sales grows globally, LianLian Global is aiming to reduce risks associated with international payments.
"LianLian Global has years of experience, deep domain knowledge, and technology assets and capabilities in China. This makes us the ideal partner to help international companies and online sellers manage payment risks when dealing with business partners in the country," said David Messenger, Executive Chairman, LianLian Global.
"We have invested in an end-to-end solution, and own all of our payment licenses, to remove all the middlemen and correspondent banks from the transaction process. This ownership allows LianLian Global to offer the world's first cross-border payments guarantee to China at unrivalled speeds and extremely competitive prices."
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.
