Peking, November 26, 2024 / PRNewswire / - Today, the globally leading digital payment brand Visa and LianLian International announced at the 2nd China International Supply Chain Promotion Expo in 2024 (referred to as the 'Chain Expo'), deepening cooperation and launching the global business payment product Voda Card to provide LianLian International customers with a comprehensive cross-border commercial payment experience. Through LianLian International's innovative research and development capabilities and Visa's global payment network, large corporate clients and small and micro-merchants can efficiently, conveniently, and securely complete cross-border payments online using the Visa digital business card issued by LianLian International. This service will comprehensively meet the cross-border payment needs of various scenarios such as global e-commerce sellers, export and import companies, online travel platforms and travel agencies, travel management companies, advertising agencies, supplier payments, and more.

China's cross-border e-commerce market has huge scale and development potential. Data shows that in the first three quarters of 2024, China's cross-border e-commerce imports and exports reached 1.88 trillion yuan, a year-on-year growth of 11.5%, which is 6.2 percentage points higher than the overall growth rate of China's foreign trade in the same period. As the industry gradually improves, cross-border e-commerce and foreign trade enterprises also face many pain points in global payments. According to the 'Visa China Small and Medium Enterprises Cross-border Business Payment Pain Points Report', 50% of companies indicate that when making cross-border business payments, they face the problem of 'uncertainty in receiving payments', meaning that after completing cross-border payment transactions, they cannot be sure if the other party will receive the funds. This is followed by 45% of companies who believe 'uncertain fee collection' and 44% of companies who believe 'uncertain transaction time', among others. Issues related to safety such as 'fraud risk in transactions' and 'long investigation and resolution of transaction anomalies' are also pain points as perceived by business owners.

To address the pain points of cross-border enterprises in global payments, LianLian International and Visa have deepened their strategic cooperation, becoming a Visa issuing institution and launching the global business payment product Voda Card. This product offers a series of digital experiences such as online recharging, multi-currency payment settlement, and online billing. Compared to traditional and time-consuming manual payment and reconciliation methods, it helps enterprises and small and micro-merchants complete online cross-border payments more efficiently and securely, aiding in cost reduction, efficiency improvement, and optimization of corporate cash flow management.

Visa Greater China President Shirley Yu stated: "As a leading global digital payment company, Visa is pleased to deepen cooperation with China's leading cross-border payment solution provider LianLian International. According to Visa's 2024 Growth Enterprise Working Capital Index report, optimizing working capital is the cornerstone for growth enterprises to sustain growth and success. Through Visa's global payment network and LianLian International's innovative technology, they will jointly launch digital solutions tailored for various cross-border business payment scenarios, continuously improving working capital efficiency. We believe that this solution can truly help cross-border enterprises solve payment challenges and accelerate the development process of cross-border payment service ecosystem."

LianLian International's Senior Vice President and Co-CEO, En Guang Shen, stated, "In today's increasingly complex global integration and cross-border payment environment, the deepened cooperation between LianLian International and Visa carries significant meaning. We hope that through our combined capabilities, we can help simplify payment processes for enterprises and make payments easier. In the future, LianLian International will continue to leverage its professional expertise in cross-border payment solutions and work hand in hand with Visa to inject continuous vitality into the development of the cross-border payment service ecosystem, enabling more companies to access more convenient and efficient cross-border financial services."

"Tickets, hotels, ground services, entrance tickets... all can be easily paid now. Youtar Card can cover all my payment needs across different scenarios, fast and cost-effective, combining cost reduction and efficiency enhancement in one, bringing a smooth booking experience to cross-border online travel platforms." Feedback from a certain international online travel platform (OTA) regarding Youtar Card for air travel payments indicates that with one Youtar Card, one can achieve a set of accounts for global payments and receipts, with simple and secure procedures. In various areas such as cross-border e-commerce, foreign trade B2B, platform businesses, and international education, there are customer voices like this – "Global seamless payments, one card is enough". Youtar Card supports instant global payments in various scenarios, precisely addressing multiple payment needs, providing strong support for the development of cross-border business by enterprises.

For more information on Visa's business and fund flow solutions, please click here. To learn about Lianliang International's global business card solutions, please click here.

About Visa

Visa (NYSE: V) is a leading global digital payment company, serving consumers, merchants, financial institutions, and government agencies in over 200 countries and regions every year. Our mission is to connect the world through an innovative, convenient, reliable, and secure payment network, enabling individuals, businesses, and economic activities to thrive. We believe that an inclusive economy can empower everyone, everywhere to progress and succeed, and that offering opportunities for all is the foundation of future currency circulation. For more information, please visit:

About LianLian International

LianLian International, a core brand under LianLian Digital, is a comprehensive innovative enterprise in the field of payment finance and services in China's cross-border trade. With strong regulatory security capabilities and technological innovation, LianLian International has established a smooth global payment and financial network, as well as a trade service network covering the entire lifecycle of enterprises. Focusing on the core needs of cross-border enterprises, LianLian International, in collaboration with industry ecosystem partners, has created an all-in-one cross-border trade service platform that integrates services such as one-click store opening, global payment and receipt, acquiring, global distribution, exchange, financing service platform, tax rebate, and more, empowering Chinese brands to sail overseas and connect goods worldwide.

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