Lianlian DigiTech Co., Ltd. (“Lianlian DigiTech”) was founded in 2009 and listed on the main board of the Hong Kong Stock Exchange in 2024 (stock code: 2598.HK). It is a leading Chinese digital payment solutions provider with global payment capabilities to serve its customers worldwide.
Leveraging its extensive global payment network built upon its expansive global licensing strategy, comprehensive proprietary technology platform, and broad partnerships, Lianlian DigiTech provides rich digital payment services and value-added services to customers in China and around the world. The digital payment services include pay-in, pay-out, acquiring, foreign exchange, virtual card, and payment aggregation services. The value-added services include business services and technology services. Under business services, Lianlian DigiTech provides digital marketing, operation support and referral services. Under technology services, Lianlian DigiTech provides account and e-wallet services and software development services. Its customers mainly include merchants (who primarily conduct retail business with end-buyers through e-commerce platforms) and enterprises (who primarily sell goods or provide services to end-buyers, including companies and institutions).
Express (Hangzhou) Technology Services Company Limited (“LianTong”) is Lianlian DigiTech’s joint venture with American Express. LianTong was granted a bankcard clearing business license in June 2020, making it the first Sino-foreign joint venture bankcard clearing institution established in China. It provides settlement, clearing and related activities for bank cards carrying “American Express” brands issued by card issuing banks in China, offering bankcard clearing and settlement services to issuing banks and merchant acquirers in its network as well as cardholder benefits to Chinese consumers both in China and globally.
Among all digital payment solution providers based in China, Lianlian DigiTech has extensive global business outreach and licensing coverage, and is the only provider holding all state-level money transmitter licenses in the United States. As of December 31, 2024, its global licensing layout consists of 65 payment licenses and relevant qualifications and a virtual asset trading platform (VATP) license from Securities and Futures Commission (SFC) of Hong Kong. Lianlian DigiTech provides services in more than 100 countries and regions, and support transactions in over 130 currencies. In 2024, the TPV of Lianlian DigiTech’s digital payment business reached RMB3.3 trillion with year-on-year growth of 64.7%, serving up to 5.9 million customers cumulatively. According to Frost & Sullivan, the Company ranked the first among the independent digital payment solution providers in China in terms of the TPV in 2022, with a market share of 9.1%.
Lianlian DigiTech’s value proposition to stakeholders in global commerce includes: (i) enhancing fund turnover and transaction transparency through the global payment network, (ii) reducing commerce barriers and transaction costs and allowing businesses to focus on core operations, (iii) navigating global regulatory challenges for the customers, (iv) offering effective access to global markets, (v) providing a secure, stable, and reliable technology platform, and (vi) promoting digital transformation and creating more value and profits.
In the future, Lianlian DigiTech will take full advantage of the huge market opportunities in global commerce, as well as the pain points and needs of China's digital transformation of foreign trade, and make global commerce easy through digitalization.
