As the country’s first comprehensive cross-border e-commerce pilot zone, Hangzhou continues to provide solid support for the globalization of Chinese cross-border e-commerce companies with its mature e-commerce ecosystem, leading digital technology and complete payment service system.
Recently, Hangzhou enterprise Lianlian Digital has reached an in-depth strategic cooperation with the Australian and New Zealand payment service provider Latipay to open up cross-border capital channels between China, Australia and China. PingPong, a cross-border payment company in Hangzhou, has also reached an official collection cooperation with noon, the leading e-commerce platform in the Middle East. The two leading payment institutions are simultaneously exploring the global market. This is a vivid practice of Hangzhou relying on its cross-border payment advantages to help cross-border e-commerce deeply explore the global market.
The rapid development of cross-border e-commerce cannot be separated from efficient, safe and compliant cross-border payment as the underlying support.
Starting from the country’s first cross-border e-commerce comprehensive pilot zone, Hangzhou has already formed a mature ecosystem with deep integration of cross-border e-commerce + cross-border payment.
There are a large number of cross-border e-commerce platforms, sellers and service providers gathered here. The cross-border e-commerce industry scale, number of enterprises and innovative models are all at the forefront of the country.
As sellers go global at an accelerated pace, payment needs such as multi-currency collection, local clearing, and rapid foreign exchange settlement are becoming increasingly urgent. A number of leading payment institutions in Hangzhou have grown along with the trend, building a global, efficient and convenient cross-border payment service network, becoming a key guarantee for cross-border e-commerce to smooth global trade.
This cooperation between Lianlian Digital and Latipay accurately matches the core pain points of cross-border e-commerce in expanding the Australian and New Zealand markets.
Currently, China-Australia and China-New Zealand trade continues to grow. China has been the largest trading partner of Australia and New Zealand for many years. The Australia-New Zealand market is an important destination for China’s cross-border e-commerce overseas.
Faced with massive orders and high-frequency capital transactions, cross-border e-commerce is in urgent need of a one-stop payment solution that can collect and pay locally.
Lianlian Digital relies on its payment network covering more than 100 countries and regions around the world and its deep accumulation of serving more than 10.4 million customers, combined with Latipay’s full license qualification and local clearing advantages in Australia and New Zealand, to jointly launch Australian dollar and New Zealand dollar virtual accounts, real-time NPP collection, local payment and settlement services for e-commerce platforms such as Amazon Australia and eBay, effectively improving capital turnover efficiency, reducing exchange costs, and making cross-border e-commerce sellers more efficient and secure in the Australian and New Zealand markets.
At the same time, Hangzhou cross-border payment companies are simultaneously developing the Middle East market with huge potential.
PingPong has officially become noon’s official payment partner. It will rely on its core advantages such as payment acceleration and security compliance to improve noon’s cross-border funding and payment capabilities, create a one-stop solution for entry, operation, and payment collection for Chinese sellers, and simplify capital flow and compliance processes.
PingPong has previously received in-principle approval from the Central Bank of the United Arab Emirates to set up local teams in Dubai and Abu Dhabi.
Currently, PingPong already holds 67 payment licenses and permits around the world.
In Hangzhou, cross-border payment and cross-border e-commerce have already formed a virtuous cycle of mutual achievement and collaborative upgrade.
On the one hand, the booming cross-border e-commerce market provides payment institutions with rich application scenarios and promotes continuous iteration of technology, compliance, and services; on the other hand, the strong cross-border payment capabilities in turn reduce the cost of going overseas, help cross-border e-commerce sellers break through capital congestion, and easily connect with global consumers.
With AI-native technology and a full-chain compliance system as its core, Hangzhou cross-border payment institutions continue to optimize product experience and upgrade from a single collection channel to full-process cross-border financial services, covering collection, foreign exchange settlement, payment, reconciliation, risk control and other aspects, providing one-stop digital solutions for cross-border e-commerce.
From being deeply involved in Europe, the United States and Southeast Asia, to now expanding into Australia, New Zealand and emerging markets in the Middle East, Hangzhou cross-border payment companies are following the footsteps of cross-border e-commerce going global and constantly expanding their global service footprint.
In Hangzhou, a fertile ground for cross-border e-commerce innovation, from small and medium-sized sellers to large brands going global, from traditional distribution models to boutique independent stations and brand globalization, every step of growth is inseparable from the protection of efficient cross-border payments.
Facing the future, as cross-border e-commerce moves toward branding, standardization, and globalization, Hangzhou will continue to leverage its advantages as a core gathering area for cross-border e-commerce, improve the cross-border payment system with technological innovation and service upgrades, link up with high-quality global partners, open up local payment channels in more countries and regions, and allow Chinese cross-border e-commerce sellers to move more steadily and further in the global market.
