By Leandra Monteiro
- Cross-border payments
- Digital Wallet
LianLian Global, world leader in cross-border payments service providerannounced the introduction of the world’s first cross-border payment guarantee to China.
LianLian Global’s end-to-end enterprise payment network and Know Your Customer (KYC) process enables the company to provide global online merchants and e-commerce entrepreneurs with the most seamless cross-border payment options, compliant and safe to the country.
LianLian Global’s first global full-value cross-border payments guarantee to China is a new feature introduced in the company’s recently launched international digital wallet. The policy ensures that payments to China-based vendors go to the correct bank account every time. All payments on LianLian Global’s end-to-end payment network are vetted and verified through LianLian Global’s enhanced KYC capabilities, which support additional due diligence on customer profile checks. These controls mitigate payment risks and fraudulent transactions, while maintaining regulatory compliance in the Chinese market.
E-commerce entrepreneurs seek payment security in their supply chains to secure their inventory for international success. LianLian Global’s Transparent Payments Guarantee to China assures users that their payments are received in relevant parties’ bank accounts in all cases, increasing the reliability of merchants’ and e-commerce entrepreneurs’ supply chains. In the event of a problem, the payment is stopped and refunded immediately without waiting for several corresponding third-party banks. Customers also get an added layer of robust security, speed, and competitive pricing. LianLian Global removes all “middlemen” or correspondent banks, eliminating payment delays and additional costs to hold and send the transfer.
“LianLian Global has years of experience, deep domain knowledge and technology assets and capabilities in China. This makes us the perfect partner to help international businesses and online sellers manage payment risk when dealing with in-country business partners,” 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 intermediaries and correspondent banks from the transaction process. This ownership enables LianLian Global to offer the world’s first cross-border payments guarantee to China at unparalleled speeds and extremely competitive prices.
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