HONG KONG, Nov. 3, 2023 /PRNewswire/ -- Hong Kong FinTech Week 2023 (HKFW), a premier annual event in Asia's fintech sector, is taking place from October 30 to November 5.
LianLian Global, a brand owned by LianLian DigiTech, has once again been invited to participate in HKFW, at which the digital technology firm is showcasing its global digital payment solutions.
Securing a Hong Kong Money Service Operators (MSO) license, one of the significant payment licenses the firm obtained early on, LianLian Global is permitted to engage in foreign exchange activities within the jurisdiction. Through its Hong Kong subsidiary, the firm remits global funds and, utilizing fintech methodologies, settles them with its Chinese cross-border e-commerce clients. This initiative aims to empower Chinese companies in international trade to execute global payments and collection securely, efficiently, and conveniently. For local businesses in Hong Kong, LianLian Global also provides cross-border remittance, collection, and international credit card acquiring services.
Furthermore, LianLian Global continues to strengthen its partnerships with local financial and affiliated institutions in Hong Kong. By examining innovative business strategies, the firm is well-positioned to assist corporate customers in their digital transformation and international expansion.
LianLian Global is also capitalizing on the opportunities presented by the Belt and Road Initiative (BRI) and the development of the Guangdong-Hong Kong-Macao Greater Bay Area. By harnessing Hong Kong's talent pool and innovative business landscape, alongside its own formidable service capabilities, the firm aims to deepen and broaden collaboration between Hong Kong and Mainland China. In particular, LianLian Global aids mainland Chinese and Hong Kong businesses in penetrating markets within ASEAN, Central Asia, and other regions aligned with the BRI. Concurrently, the firm is leveraging its robust localized service capabilities to assist businesses from BRI nations in accessing both Chinese and global markets.
As of the end of 2022, LianLian DigiTech had secured 64 payment licenses and corresponding credentials globally, servicing approx. 1.8 million clients across a spectrum of industries, including e-commerce, retail, etc. Its services extend to over 100 countries and regions, accommodating transactions in more than 130 currencies. In 2022, total payment volume (TPV) for digital payment services surpassed 1.153 trillion yuan. Based on data from Frost & Sullivan, LianLian DigiTech emerged as China's leading independent provider of digital payment solutions in 2022 in terms of TPV, capturing 9.1% market share by TPV.
