LianLian Global, a cross-border payment service provider, announced the expansion of its cross-border digital payments platform to the UK, “with additional support for customers to secure financing through LianLian Global.”
The LianLian Global cross-border digital payments platform is “designed to help UK ecommerce merchants and entrepreneurs that sell products and services internationally to make and receive payments faster in key markets, including China and the US.”
First launched in the US at the end of Q2 this year, the cross-border digital payment platform is “available on marketplaces including Allegro, Amazon, Fruugo, Google Shopping Actions, Rakuten, Shopify, Walmart, and more.”
In addition to receiving funds from marketplaces, paying suppliers, and managing their foreign exchange (FX) risk, UK ecommerce entrepreneurs and businesses “can access up to £10 million of financing through LianLian Global to scale their business.” This option will “benefit companies requiring flexible, fair financing solutions to fund their growth plans ahead of the seasonal cross-border trading peak in Q4.”
In order to maximize their share of growth, ecommerce entrepreneurs “require additional financing to grow their business and improve their inventory.”
However, according to the Federation of Small Businesses, “fewer than one in ten (9%) small firms applied for finance in Q1 2022, the lowest proportion since SBI records began.” The share of respondents that “saw applications approved (43%) is also at a record low.”
David Messenger, Executive Chairman, LianLian Global, said:
“We are delighted to expand our cross-border digital payments platform to Europe with the UK launch of our product. This is an evolution of our globally trusted platform that our customers have come to rely on. Additionally, we are rapidly expanding our service capabilities to help cross-border ecommerce businesses access the funding they need in Q3 to succeed in Q4.”
The introduction of LianLian Global’s cross-border digital payments platform “enables ecommerce companies to take control of their supplier payments and finance needs.”
Users can pay or receive payments “in US Dollar, British Pound Sterling, Euro, Polish Złoty, Chinese Yuan, and Hong Kong Dollar.”
Unlike other prominent providers in the market, customers can “use LianLian Global’s cross-border payments platform without committing to an annual fee or (in certain countries, including the UK, US, and China) paying to open an account or receive payments. Instead,”
LianLian Global “charges a fixed 0.5% rate for FX conversion, with even more competitive rates available to high-volume customers.”
David Messenger adds:
“We know from listening to our customers worldwide that delayed or interrupted payments can have a crippling impact on any business, especially small ecommerce companies and suppliers who are more vulnerable to cash flow challenges. We give them the flexibility and confidence to make and receive cross-border payments reliably and efficiently.”
LianLian Global “has offices in 12 countries that help more than 1.4 million ecommerce stores grow their cross-border businesses. ”
LianLian Global “owns over 60 licenses worldwide.” In addition, the company has partnered “with leading financial institutions such as Citi, Deutsche Bank, and J.P. Morgan to power their solutions.”
