Global cross-border payment service provider LianLian Global is expanding its platform to the U.K. and adding financing options to support eCommerce merchants.
First launched in the U.S. this year at the end of the second quarter, the expansion of the platform into the U.K. is intended to help eCommerce merchants and entrepreneurs sell abroad, make payments and get paid faster in key markets, including China and the U.S., according to a press release on Wednesday (Aug. 10).
The cross-border platform is available in the U.S. on marketplaces including Amazon, Google, Rakuten, Shopify, Walmart, Allegro, and others. It enables online sellers to receive funds from marketplaces, pay suppliers and manage their foreign exchange (FX) risk.
Headquartered in Hangzhou, China and founded in 2004, LianLian Group is the fourth largest payments company in China, with core businesses including global payments, bankcard clearing and comprehensive financial services, according to LinkedIn.
LianLian Global has offices in 12 countries and works with more than 1.2 million eCommerce merchants. The company has over 60 licenses worldwide, including a money transmitter license in all 50 U.S. states.
See also: Cross-Border Payments Help eCommerce Merchants Navigate China’s Business Complexities
In an interview with PYMNTS last month, LiaLian Global Executive Chairman David Messenger said that eCommerce companies have to look like local sellers that speak the same language as their buyers. They need a presence on all digital channels and must offer consumers preferred payment methods.
The new financing option offered by LianLian Global enables eCommerce merchants in the U.K. to access up to £10 million of financing through LianLian Global to scale their business, according to the release.
Read more: LianLian Global Intros Multi-Currency Wallet
Messenger said the U.K. launch of its finance product is an “evolution of our globally trusted platform that our customers have come to rely on.”
He added that the company is also quickly growing its “service capabilities to help cross-border eCommerce businesses access the funding they need in Q3 to succeed in Q4.”
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