Issuer payment processing partner, Thredd , has recently announced the successful launch of LianLian Global ’s virtual card programme in the APAC region. LianLian Global is a China-based cross-border payments company specialised in delivering cross-border fund settlements with instant payouts and frictionless customer experience.

Currently, Thredd processes more than 200,000 LianLian Global Visa transactions per month in Hong Kong, with the latter announcing its expansion plans beyond APAC, into the US, EU, and the UK. More on the strategic partnership Thredd was selected by LianLian to power the Yueda virtual card product used by customers in a wide array of industries, from ecommerce to travel, and international B2B trade. The strategic partnership between the companies will support the management of international operations bringing to the table speed, transparency, and the simplicity of global fund transfers through card payment rails.

The new partnership comes with clear programme steps and a commitment of 12 months for both Tredd and LianLian Global. By using Thredd’s virtual card issuing capabilities, LianLian is in line to deliver its ambitious growth plans for 2024 and beyond. As previously mentioned, the company has secured payment licenses in mainland China, China, Singapore, the US, the UK, Luxembourg, Thailand, and Indonesia, which shows its intention to serve a wider area than just the APAC region.

On the other hand, Thredd will support the Chinese enterprise with virtual cards that ensures supported payments, no matter where clients are. Moreover, tapping on a good customer experience, clients will have access to a local team of professionals who speak their language for seamless, frictionless, and fast interactions. Looking towards the feature Reacting to the announcement, officials from Thredd mentioned that they will support the growth of one Hong Kong’s important payment businesses, aiming to deliver smooth B2B payment flows for customers, regardless of their home currency or geography.

With cross-border payments still being a challenge across the world due to transactional fees, internal regulations, and other factors, Thredd and LianLian are looking to bridge the gap in this payment sector and provide high-quality services. The news of Thredd’s latest partnership follows shortly after another strategic partnership with TerraPay to support card payments for the travel industry. .