- LianLian Global, which provides cross-border payments services to e-commerce providers across the world, has announced that it has received a license to operate in its 50th US state.
- The move means that the company can now offer its cross-border payments services – such as multi-currency wallets – to e-commerce storefront providers across the US.
- “Despite the cost and effort, we know this is the right strategy – to build highly compliant and cost-efficient customer services in every market where we operate,” said a senior figure at the firm.
LianLian Global, a major provider of cross-border payments services, has confirmed that it has been granted money transmitter permissions in all 50 states in the US.
It now has permission to operate across the country, which is one of the world’s largest markets.
The move will also enhance the abilities of marketplaces and financial institutions when it comes to adhering to compliance rules, the company said in a press release.
The service is aimed at e-commerce sellers in the US, all of whom are now able to conduct international transactions via LianLian Global.
They have the option to use services and products such as multi-currency wallets and supplier payments.
The company has been endeavoring to secure the relevant licenses for around four years, and it has now been given permission to work in the 50th state.
Overall, the company has over one million e-commerce marketplace owners on its books around the world.
In a statement, a senior figure at LianLian Global said that the presence of “middlemen” was a problem when it comes to working in the US with clients there.
David Messenger, who is the company’s chief executive officer, said that this posed further problems when it comes to compliance and levels of agility.
“Many payment service providers still rely on middlemen to service US customers. That involves extra costs, compliance risks, and less agility,” he said.
“By contrast we are able to offer our US customers a competitive, flexible and fully compliant end-to-end service that can give them real confidence in working with us.”
He added that LianLian Global had undergone a series of thorough and comprehensive certification tests.
“Most of the leading cross-border payments companies have not achieved this – we have undergone a rigorous and challenging certification by every state authority,” he explained.
He went on to say that the strategy that the company was following at the moment was considered to be the right one in all the markets where LianLian Global currently operates.
“Despite the cost and effort, we know this is the right strategy – to build highly compliant and cost-efficient customer services in every market where we operate. This includes South-East Asia, South America, Europe, China, and of course, North America,” he said.
To get more details about the workings of the international money transfer sector, just head over to this link and read some of our reviews of providers.
