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Visa is launching a new payment solution aimed at streamlining cross-border B2B transactions for small and medium-sized enterprises (SMEs) based in China.
Visa and LianLian Global have announced an enhanced partnership along with the introduction of the Yueda Card, a new payment solution for cross-border business transactions. This card is aimed at LianLian Global’s clientele, primarily SMEs, and provides a secure and efficient method for handling cross-border online payments.
LianLian Global is recognized as one of China’s prominent FinTech firms, focusing on cross-border payment solutions and financial services for e-commerce and various other sectors. The company offers services that facilitate international transactions, enabling SMEs to function more effectively in global markets.
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Utilizing Visa’s extensive payment network, the Yueda Card will be beneficial across a range of cross-border payment situations. It is particularly designed to ease financial transactions for international e-commerce platforms, payment service providers, travel and advertising agencies, logistics and trading firms, among others.
The press release highlights that China’s e-commerce import and export transactions reached 1.88 trillion CNY during the first three quarters of 2024. Nevertheless, over half of the businesses reported facing uncertainties regarding the final amounts of commission fees, transaction processing durations, and payment receipt confirmations. This new solution seeks to address these challenges and enhance corporate cash flow management.
Max Krupyshev, CEO of CryptoProcessing.com, mentioned during the Purpose Driven FinTech podcast the advantages of cryptocurrency for cross-border transactions, travel, and other scenarios requiring international payments. He specifically pointed out the benefits of stablecoins, which he believes are frequently more effective than existing FinTech solutions.
Visa has also recently broadened the geographic reach of its Visa Flexible Credential solution, which enables payment card users to alternate between various payment methods using a single credential.
Сообщение Visa Launches Cross-Border B2B Payment Card in China появились сначала на CoinsPaid Media.
