Spotlight on its tailored international payment solution for Thailand's booming e-commerce landscape
BANGKOK, Sept. 1, 2023 /PRNewswire/ -- LianLian Global will highlight its proven capabilities in integrated international payment solutions, emphasizing its consistent performance in product offerings, service, innovation, and branding, at eBiz Expo & OEM Manufacturer Expo 2023 in Bangkok from August 31 to September 2, 2023.
As one of the leading global firms that serve organizations operating across borders, LianLian DigiTech's LianLian Global brand has accumulated years of experience and expertise in the Thailand market.
In 2019, LianLian's Thai subsidiary received a merchant processing license and authorization as a payment facilitator from the Bank of Thailand, the country's central bank. The milestone made LianLian the first wholly foreign-owned entity to achieve such permissions in Thailand. Subsequently LianLian obtained approval to conduct cross-border payment collection and merchant acquiring services in the country. In 2021, LianLian launched an integrated payment solution for the local market. The solution is designed to address the financial needs of organizations operating in and outside Thailand by providing payment processing for physical in-store transactions, credit and debit card processing for online transactions, alongside seamless domestic and cross-border payment, and third-party payment services. The solution has been deployed by McDonald's and Shopify, among other retail and e-commerce leaders. In 2023, LianLian Global introduced a baht-denominated fast money transfer service for travelers and merchant account services for Thai businesses.
Thailand, China's third-largest trade partner among ASEAN nations and Southeast Asia's second-largest economy after Indonesia, boasts a promising economic landscape ripe for e-commerce expansion. A report from the Thailand E-commerce Association reveals that the nation's e-commerce sector surpassed US$30 billion in 2022, with projections to exceed US$100 billion by 2025.
Thailand and Indonesia are at the forefront of emerging economies, drawing significant domestic and international investments. In sync with its global expansion strategy, LianLian Global is intensifying its footprint in both mature and emerging markets abroad, aiming to offer global companies innovative, secure, and tailored services anchored in local solutions.
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