LianLian DigiTech

LianLian DigiTech
Company typePublicly Traded (HKEX Stock Code: 2598.HK)
IndustryFinTech, Mobile Payments
Founded2009
Headquarters
Hangzhou, Zhejiang
,
China
Area served
Worldwide
Websitewww.lianlian.com

LianLian DigiTech is one of the pioneering digital technology companies in China to offer comprehensive payment solutions globally. It successfully listed on the main board of the Hong Kong Stock Exchange on March 28, 2024 (Stock Code: 2598.HK).[1]

History

Lianlian DigiTech was established in 2009, with its headquarters located in Hangzhou, Zhejiang, China. As of the end of June, 2024, the Total Payment Volume (TPV) of Lianlian DigiTech’ s digital payment business reached RMB 1.57 trillion.[2]

As of June 2024, Lianlian DigiTech has obtained 65 global payment licenses and relevant qualifications, serving over 4.9 million merchants and enterprises globally from various industries.[3] Its services includes e-commerce, retail, travel, logistics, education, real estate, and manufacturing, covering over 100 countries and regions. It supports transactions in more than 130 currencies.

In 2024, Lianlian DigiTech obtained an Electronic Money Institution license in Luxembourg to provide cross-border payment services in the European market.[4]

Partnerships

Lianlian DigiTech, in partnership with American Express, established a joint venture, Express (Hangzhou) Technology Services Company Limited (“LianTong”), in China.[5][6] LianTong is the first sino-foreign joint venture bankcard clearing institution in China to be granted a bank card clearing business license by the People's Bank of China. LianTong provides settlement, clearing and related services for bank cards carrying American Express brands issued by card issuing banks in China. It offers bank card clearing and settlement services to issuing banks and merchant acquirers in its network, as well as cardholder benefits to consumers in and out of China.

Products and Services

With Lianlian DigiTech’s global payment network built upon the global license layout, proprietary technology platform and extensive network of partners, it has established a global payment network, providing a full suite of digital payment services and value-added services to Chinese and worldwide customers. This includes digital payment services such as pay-in, pay-out, acquiring, foreign exchange, virtual card and payment aggregation, as well as value-added services like digital marketing, operation support, referral services, account, e-wallet and software development.[7][8]

Lianlian Global

Lianlian Global is the core brand of Lianlian DigiTech, a comprehensive and innovative cross-border finance enterprise in China.

References

  1. ^ Li, Ryan (2024-04-25). "Deal Analysis: Lianlian Digitech's HK$657.15m IPO". FinanceAsia. Retrieved 2024-09-04.
  2. ^ LianLian. "LianLian Reports 617 Million Yuan in H1 2024 Revenue, Up Over 40% Year-Over-Year". www.prnewswire.com (Press release). Retrieved 2024-09-06.
  3. ^ "LianLian DigiTech - 连通世界 服务全球 Connect merchants of the world; serve all across the globe". en.lianlian.com. Retrieved 2024-09-06.
  4. ^ "Lianlian DigiTech secures EMI license in Luxembourg". IBS Intelligence. Retrieved 2024-09-06.
  5. ^ 金丹. "AmEx JV gains historic approval to clear RMB transactions". global.chinadaily.com.cn. Retrieved 2024-09-06.
  6. ^ "Joint Venture of American Express and LianLian in China". americanexpress.com.cn. Retrieved 24 November 2023.
  7. ^ "洞察变化，亿邦智库发布《2022跨境电商金融服务报告》". mp.weixin.qq.com. 2 March 2023. Retrieved 24 November 2023.
  8. ^ "Digital Service Provider LianLian DigiTech Files to List on HKSE". equalocean.com. 10 June 2023. Retrieved 24 November 2023.