LianLian Global, a global cross-border payments service provider, has launched the world’s first cross-border payments guarantee in China.
LianLian Global’s end-to-end business payments network and Know Your Customer (KYC) approach allow the organization to give the merchants more accessible, transparent, and secure cross-border payment solutions to the countries of global online merchants and e-commerce entrepreneurs.
David Messenger, Executive Chairman, LianLian Global, commented, “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. 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 company’s recently launched international digital wallet now includes a world-first cross-border full value payments guarantee to China. The policy ensures that payments to Chinese vendors are always delivered to the correct bank account. All payments on LianLian Global’s end-to-end payments network are vetted and validated using LianLian Global’s expanded KYC capabilities, which allow for more due diligence on customer profile checks. These checks reduce payment risks and fraudulent transactions while also meeting regulatory requirements in the Chinese market.
To succeed worldwide, e-commerce firms want payment security across their supplier chains. LianLian Global’s transparent payments guarantee to China ensures that users’ payments are received in the bank accounts of the intended parties in every situation, boosting reliability in merchants’ and e-commerce entrepreneurs’ supply chains. If there is an issue, the payment is quickly halted and repaid without the need for several third-party correspondent banks. Customers also benefit from increased security, speed, and reasonable pricing. LianLian Global eliminates any “middlemen” or correspondent banks, hence avoiding payment delays and the additional fees associated with holding and sending the transfer.