LianLian Pay Experiences 1,242% Jump in Collection of Cross-border Payments Related to GMV

HANGZHOU, China, April 20, 2019 /PRNewswire/ -- The 2019 "Bridge Fearless" LianLian Pay Cross-Border Open Day was held in LianLian Tower, Hangzhou on April 18. Shi Huangkai, Deputy Director of the Office of Hangzhou Cross-border E-commerce Comprehensive Pilot Area, took part in the event and gave a speech, while Pan Guodong, CEO of Lianlian Pay, delivered the keynote address. Officials from cross-border e-commerce pilot areas and associations, executives from Amazon, eBay and other e-commerce platforms, representatives from Hong-Kong based Amber Certified Public Accountants, Shenzhen-based 4PX Worldwide Express and other cross-border e-commerce solutions providers, in addition to hundreds of cross-border e-commerce sellers acted as witnesses to LianLian Pay's new achievements in the world of cross-border e-commerce.

As the proportion of the world's population that is connected to the internet continues to rise, the rapid growth in the number of online users has served to extend the trend of shoppers abandoning physical stores for online shopping, while the online shopping experience has further stimulated consumer demand. It is expected that the global online retail market will surpass US$4.8 trillion by 2021, accounting for 17.5% of all retail sales worldwide.

Online shopping has led to the booming development of cross-border e-commerce. The export value of China's cross-border e-commerce has been growing by over 30% annually, well above the growth rate of exports, making it a new contributor to and driver of China's foreign trade. China's cross-border export retail e-commerce market stood at 1.26 trillion yuan in 2018, accounting for 7.7% of the country's exports.

Mr. Pan said LianLian Pay has, from day one, always been committed to its target customer-- cross-border e-commerce SMEs, by providing high-quality and efficient services to those SMEs worldwide. It has achieved rapid growth in cross-border payment solutions, spurred by a year on year gain of 1,242% in the collection of cross-border payments related to gross merchandise volume (GMV) and a significant gain of 682% in the number of active shops.

LianLian Pay has established an excellent reputation among cross-border e-commerce sellers. According to a research report on the ecosystem of China's cross-border e-commerce financial services for 2019 issued by Ebrun Research Institute, the penetration rate of LianLian Pay's cross-border payment brands grew by 35.9% in 2018, while LianLian Pay accounted for 52.7% of the brand penetration rate of third-party payment collection solutions, claiming the leading position in terms of both the brand penetration rate and the growth rate.

In addition to supporting global major e-commerce platforms such as Amazon, eBay and Wish, LianLian Pay has expanded into several niche and emerging e-commerce markets. Since September 2018, LianLian Pay has added support for all online payment collection functions on several e-commerce platforms including SOUQ, Mercado Libre, Bringly.ru and JD Indonesia.

LianLian Pay's cross-border payment service has just added the ability to settle transactions in three local market currencies, the Indonesian rupiah, Thai baht and Brazilian real, in addition to the top six most tradable currencies, the US dollar, euro, British pound, Canadian dollar, Australian dollar and Japanese yen. This month, the platform plans to add settlement in Singaporean dollars.

SOURCE LianLian Pay