LAS VEGAS, March 11, 2019 — LianLian Pay, a leading Chinese industry payment and cross-border payment solution provider, attended the 4th Shoptalk held in Las Vegas on March 4.
Shoptalk is the world’s largest retail and e-commerce innovation conference. This year’s event attracted more than 8,400 participants, including top executives from the world’s leading companies, among them, Google, Amazon, Facebook, Wal-Mart, Alibaba and jd.com, to discuss the rapid evolution of consumption. A Forbes post recognized the meeting as “the most anticipated retail event of the year.”
During Shoptalk, many guests discussed the transformation of traditional retail as well as how the transformation influenced the branding process and the application of new technologies in e-commerce. Most of the exhibitors focused on how to provide better services for brand owners and large-scale sellers, as well as how to solve the issue faced by small e-commerce businesses and sellers who do not have the means to find matching resources.
LianLian Pay CEO Pan Guodong shared his concern about e-commerce at Shoptalk: the experience is becoming much more consumer-oriented yet many of the processes that sellers have to contend with still depend on traditional methods, and are inefficient and costly, even in China where e-commerce is highly developed. Sellers in the country still need to sign agreements and pay fees offline for dozens of ancillary processes, from order picking, logistics, warehousing and distribution to intellectual property protection and marketing services. Pan believes that the sector is in urgent need of innovation. As a representative company in the payment segment of China’s cross-border export e-commerce sector, LianLian Pay feels a responsibility to be a part of the solution.
In 2017, LianLian Pay officially launched its cross-border collection solution, providing one-stop cross-border financial services including collection, payment, unified management of multiple stores and VAT payment handling for China’s cross-border export e-commerce sellers, supporting settlements in six currencies. As of June 2018, LianLian Pay had served 300,000 cross-border e-commerce export sellers in China, with a total transaction value exceeding 2 trillion yuan (approx. US$300 billion). In the first half of 2018, LianLian Pay handled cross-border transactions surpassing 20 billion yuan (approx. US$3 billion). During the next three years, LianLian Pay plans to invest 3 billion yuan (approx. US$450 million) to expand cross-border businesses and empower 1 million cross-border e-commerce sellers and their service providers and suppliers to build a global cross-border e-commerce service platform.
LianLian Pay has labelled its future mission “Digital Empowers the World”, which the CEO describes as building a service network connecting global consumers and small and medium-sized businesses through highly innovative financial technologies and services, and becoming a leader in connecting the new capital network globally in the digital era.
About LianLian Pay
LianLian Pay, founded in 2003 with a registered capital of 325 million yuan (approx. US$48 million), is a leading independent third-party payment company in China, a pioneer and leader in the payment solutions sector, as well as a software and high-tech company recognized by the Chinese government as having national importance. After spending years in the research and development of efficient and effective payment processes, LianLian Pay has developed and rolled out a global payment product that holistically brings together mobile payment, cross-border payment, intelligent payment and fintech into one overarching solution.
SOURCE LianLian Pay