HANGZHOU and BEIJING, China, July 10, 2024 /PRNewswire/ -- Lianlian Digitech's brand, Lianlian Global, announced that it has released a new global payment service, Lianlian Global Payout Service (LGPS), providing global payment services for cross-border payment service providers (PSPs), banks, and other licensed financial institutions.

This innovative solution empowers overseas PSPs, banks, and other financial institutions to offer global payment services essential for cross-border trade. With LGPS, these institutions can make payments to China and various regions worldwide through a unified API interface, ensuring a more transparent, secure, efficient, and traceable global payment experience.

Lianlian Global's LGPS effectively addresses the pain points of traditional cross-border payments. It supports various business scenarios, including B2B and B2C, meeting the diverse payment needs of different customers. LGPS offers fast transaction speeds and low costs by leveraging a global fund processing network and optimizing intermediate links through the local bank clearing network, allowing real-time RMB credits without multiple intermediary banks. This approach reduces handling fees and costs significantly. Additionally, based on more than 60 payment service licenses and qualifications in the system and its independently developed anti-money laundering and anti-fraud risk control system, Lianlian can provide cross-border merchants with safe and compliant full-process and full-link cross-border services, making cross-border payments more secure. The process is transparent.

The launch of Lianlian Global's LGPS product is gaining worldwide recognition. Thunes, a global money movement innovator and cross-border payment infrastructure platform, will be Lianlian Global's first strategic partner. By leveraging the network coverage of both companies, this partnership enhances the global payment capabilities of both Lianlian Global and Thunes, providing bilateral support for their clients and expanding their reach.

Thunes has one of largest digital wallet networks in the world. Thunes provides cross- border payments in 130 countries with a reach of over 3 billion digital wallet accounts and over 4 billion bank accounts.

Lianlian Global is a comprehensive innovative enterprise in the field of payment finance and services in China's cross-border trade. At present, its business covers cross-border payments, global collection, global distribution, exchange services, etc., and can provide integrated cross-border trade services for various types of customers. As of the end of last year, Lianlian's business has covered more than 100 countries and regions around the world, supporting the use of more than 130 currencies, and has accumulated about 3.2 million service customers.