LianLian Global and Guavapay Announce New Global Payment Experience

HANGZHOU, China, July 12, 2024 /PRNewswire/ -- LianLian Global and Guavapay have signed a cooperation agreement to jointly create a convenient, efficient and secure global payment experience. The partnership enables people to send money to China through Guavapay's payments app, MyGuava.

LianLian Global has announced that Guavapay has joined the LianLian Global Payout Service. On 3 July 2024, representatives from both companies attended a signing ceremony in Hangzhou to make the new cooperation agreement official.

LianLian Global is a brand that forms part of Lianlian Digitech, a Hong Kong-listed digital payments company. Lianlian is committed to providing a connection path for every overseas transaction and to constantly breaking down boundaries by connecting users, trade and ecosystems to meet growing global payment needs.

Since its establishment, Lianlian has built a licence portfolio consisting of more than 60 payment licences and related qualifications (including the UK API licence, Luxembourg EMI licence, and the US MTL licence). It has built a business network covering more than 100 countries and regions around the world, and successfully helped approximately 3.2 million merchants and enterprises to make digital payments.

Guavapay is a UK-based Small Electronic Money Institution, registered with the Financial Conduct Authority, which specialises in enabling cross-border cash and digital payments to meet customers' international transfer needs.

Guavapay is also home to the MyGuava App - a new and exciting way to make payments and manage your money. The MyGuava App provides accounts in 20 currencies, global fee-free transfers, remittances and virtual and physical debit cards. In addition, there are features such as cashback on eligible purchases, bill splitting and gift cards for friends and loved ones.

The new agreement means that Guavapay will be connected to LianLian Global Payout Service (referred to as "LGPS"). This connects Guavapay to China through a unified API interface, meaning people can send payments to China through the MyGuava App and payments platform. In addition, users can enjoy a more transparent, secure, efficient, traceable and seamless global payment experience.

"Guavapay is delighted to have joined forces with LianLian Global and realise our ambition to enhance our services by including the ability to send payments to China," says Kamal Hasanov, CEO at Guavapay. "In the modern world, forging strategic partnerships is increasingly essential and this new agreement benefits both parties, as well as our customers, both now and in the future."

Tim Shen, co-CEO of LianLian Global commented: "This cooperation with Guavapay is an important step for us to enrich our global payment service network. We believe that with the vast knowledge of both parties in the field of cross-border payments and their respective insights into industry needs, we will be able to work together to bring a safer, more reliable and economical international payment experience to the majority of cross-border enterprises, and promote seamless global trade."

source: LianLian Global