In the fierce competition in cross-border payments, license layout is undoubtedly the core competitiveness of enterprises.
With its 66+ global payment licenses and related qualifications, Lianlian Payment has successfully built an extensive global service network and become a benchmark enterprise in the industry.
As of the end of 2024, Lianlian Pay’s total annual payment volume reached 3.3 trillion yuan, a significant year-on-year increase of 64.7%, with a total of 5.9 million customers served, and the gross profit margin of cross-border payment business was as high as 72%, showing rapid expansion momentum.
However, as the business scale continues to grow, how to adhere to the bottom line of compliance and find the balance between scale and compliance has become a key proposition for the long-term development of Lianlian Payment.
Judging from the feedback from market users, relevant questions and demands are relatively concentrated.
Many cross-border e-commerce merchants have reported that when using Lianlian Pay for cross-border payment collection, the timeliness of payment is unstable in some areas, and the payment is occasionally delayed.
Moreover, the exchange rates for different currencies are not transparent enough and hidden fees are difficult to detect, which undoubtedly increases the costs and risks for merchants.
Some users also mentioned that the review of some cooperative merchants of Lianlian Pay was not strict enough, and their payment channels were used by some illegal lending platforms, resulting in abnormalities in their own capital flows.
After consulting customer service, the problem handling efficiency was low and the feedback was not timely enough, which seriously affected the user experience.
The emergence of these problems reflects that during the rapid expansion of Lianlian Payment’s business, the level of refinement of compliance control has not been improved simultaneously, and there are omissions in some business links.
From a regulatory perspective, the “Regulations on the Supervision and Administration of Non-Bank Payment Institutions” clearly requires that non-bank payment institutions conducting cross-border payment business must comply with relevant regulations such as foreign exchange management and cross-border data flow to prevent illegal and criminal activities.
Currently, global cross-border payment supervision is becoming stricter, and compliance requirements vary widely in different countries and regions.
While Lianlian Payment is expanding its overseas markets and business scale, it also needs to deal with multi-regional compliance challenges.
Once there are oversights in management and control, you may face compliance risks, which will not only affect the reputation of the company, but may also lead to serious legal consequences.
For Lianlian Payment, finding the right balance between scale and compliance is the core of achieving long-term development.
Lianlian Pay should rely on its existing license advantages to steadily expand its business scale and service scenarios while strengthening compliance control.
Specifically, it is necessary to optimize the merchant review and continuous risk control mechanism, strictly screen cooperative merchants, and prevent illegal lending platforms from using payment channels.
At the same time, it is necessary to clearly disclose the exchange rate and handling fee standards, improve business transparency, and allow users to clearly understand the cost of each transaction.
In addition, customer service response and problem handling processes should be optimized to respond to users’ reasonable demands in a timely manner and improve user satisfaction.
Only by achieving scale growth and compliance control at the same time, can Lianlian Payment consolidate its core competitiveness and continue to lead the cross-border payment track.
In future development, Lianlian Payment needs to continuously improve its management system and strengthen compliance awareness to cope with the increasingly complex market environment and regulatory requirements.
