GLOBAL PAYMENTS COMPANY LAUNCHES U.S. CROSS-BORDER WALLET FOR ECOMMERCE RETAILERS AND ENTREPRENEURS
Classified in: Science and technology , Business
Subject: PDT
Our aim is to help our U.S. customers better navigate the complexity of cross-border payments and the volatility of FX.
Data Catalyst found that almost 70 percent of U.S. SMEs use third-party online marketplaces or their web store, with most firms opting to use multiple online markets. However, despite having such a significant digital presence and many selling to multiple countries, cross-border payments remain a significant challenge for U.S. businesses, especially small and medium-sized organizations looking to make payments in less familiar, emerging market currencies in Africa, Asia and the Middle East.
For instance, the evolving international regulatory requirements and capital control policies concerning the transfer and movement of funds in local currencies adds a considerable compliance burden for many U.S. ecommerce businesses. This is particularly true in relation to China, Vietnam and other vital Asian supply chain hubs. Such supplier payment challenges can significantly impact the supply of goods and services from those regions. LianLian Global’s Cross-Border Wallet is designed to address these concerns by enabling U.S. businesses to make and receive payments or convert U.S. Dollars to certain regional currencies quickly and compliantly.
The introduction of LianLian Global’s Cross-Border Wallet virtually eliminates the bureaucratic burden of facilitating payments between Western businesses, customers and suppliers in China and other emerging markets worldwide. LianLian Global allows ecommerce customers of all sizes to make payments up to U.S.$1.5 million at a time. Additionally, the wallet can hold multiple currencies, including U.S. Dollar, Canadian Dollar, Hong Kong Dollar, British Pound Sterling, European Euro, Chinese Yuan and Polish Z?oty.
“We are delighted to have launched our fully-licensed Cross-Border Wallet in the United States, and see the positive response from US businesses. This is an evolution of our globally trusted platform that our customers around the […]
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