Embrace the opportunity of digital economy in Southeast Asia, and accelerate the digital payment service to the sea again and again.
A few days ago, Billion Think Tank released the Report on Sub-growth of Cross-border E-commerce in Southeast Asia in 2022, which comprehensively analyzed the cross-border e-commerce market in Southeast Asia from the aspects of development environment, characteristics of overseas enterprises and supporting cross-border services.
According to the Report, it is estimated that by 2030, the scale of the digital economy in Southeast Asia will reach one trillion US dollars. China enterprises are enthusiastic about going to sea in Southeast Asia, and 50% of the enterprises surveyed have accounted for more than one-third of the total overseas market. The speed of digital services going out to sea has accelerated. Cross-border trade service enterprises, such as Lianlian International, have accelerated their global distribution, demonstrating the "China experience" of digital services enabling enterprises to sail out to sea and connect goods with the world.
Building a one-stop cross-border trade service platform
Empowering China brand to go to Southeast Asia
In recent years, driven by various factors, such as RECP blessing, the continuous development of science and technology, and the transformation and upgrading of foreign trade, Southeast Asia, a vast market with great potential, has attracted the attention of China and even the whole world, becoming one of the regions with the fastest growth rate of e-commerce in the world and being called the next frontier region of digital economy. The above report predicts that the scale of digital economy in Southeast Asia will reach one trillion dollars by 2030.
Among them, Southeast Asia has become an important expansion direction for many cross-border export enterprises in China, relying on the similar economic form and close geographical location with China. According to the research report from Billion Think Tank, 15.8% of the enterprises surveyed regard Southeast Asia as the largest export sales market. At the same time, in the face of highly saturated competition in European and American markets, Southeast Asia is in the incremental market stage and has a solid growth foundation. In 2021, the sales of 50% of the companies surveyed in Southeast Asia accounted for more than one-third of the overall overseas market, and the market layout was significantly accelerated.
Although the e-commerce market in Southeast Asia has broad prospects, it is not easy to enter smoothly and develop in the long run. Compared with the domestic market, enterprises often face pain points such as cultural and regulatory differences and long cross-border chain when entering overseas markets. Therefore, a series of supporting cross-border comprehensive service tools covering exchange services, intellectual property rights, industry training and cross-border payment have become "urgent needs" for enterprises to go to sea.
It is reported that relying on the global digital payment network built by the parent company, Lianlian International has built a one-stop cross-border trade service platform integrating one-click shop opening, global receipt/payment, independent station receipt, global distribution and remittance service with strong compliance and security strength and scientific and technological innovation ability, centering on the core needs of overseas enterprises, and uniting with industry ecological partners, helping China overseas enterprises to sail out to sea.
For example, based on the increasingly prominent situation of intellectual property issues in cross-border e-commerce, Lianlian International has joined hands with well-known intellectual property comprehensive service organizations to carry out in-depth cooperative research around the intellectual property-related needs of cross-border enterprises, providing cross-border enterprises with professional compliance services covering intellectual property infringement detection and monitoring, intellectual property layout, intellectual property dispute coordination, litigation handling and other aspects to help cross-border sellers get rid of the "intellectual property" dilemma. In order to better help cross-border sellers cope with exchange rate risks and reduce the uncertainty of foreign exchange losses, Lianlian International’s foreign exchange service products have been commissioned to exchange foreign exchange on the basis of rapid foreign exchange, and through cooperation with banks and other financial institutions, they have helped sellers solve various needs such as exchange rate management and foreign exchange locking.
According to the data, through the one-stop cross-border trade service platform, Lianlian International has achieved cross-border payment service for over 50 global mainstream e-commerce platforms and nearly 120 sites, including Shopee and Lazada in Southeast Asia, covering more than 100 countries and regions, and has served more than 1.2 million cross-border e-commerce stores in China.
Create a "global acquiring+international wallet" solution
Serving Southeast Asian merchants to expand their global business
Under the "upsurge" of digital economy, in addition to attracting the layout of China enterprises, many local brands, merchants, retailers and traditional physical stores in Southeast Asia have also turned their businesses online, embraced digitalization and embarked on the road of e-commerce and cross-border trade. Relevant institutions predict that in 2025, the scale of the entire e-commerce market in Southeast Asia is expected to reach 234 billion US dollars. However, compared with the mature China market, e-commerce and digital economy in Southeast Asia are still in the early stage of development, and the related supporting services still need to be strengthened. As far as the cross-border export e-commerce industry is concerned, although it contains great potential, the supporting facilities such as cross-border collection and global receipt, which have matured in the China market, have almost just started in export e-commerce in some Southeast Asian countries and become an urgent problem to be solved.
Under this background, the cross-border trade service enterprises represented by Lianlian International, while solving the service demand of China enterprises going to sea, also started the globalization strategy, accelerated the layout of overseas markets, and exported the mature domestic digital payment service experience and business model overseas to benefit more emerging markets.
It is understood that since the launch of the internationalization strategy, Lianlian has actively expanded the local payment market with the concept of compliance first. For example, in 2019, Lianlian Thai subsidiaries obtained the "bank card payment" license and the qualification of collection and payment, becoming the first enterprise in the history of Thailand to obtain a payment license as a purely foreign-funded company. In September, 2021, Lianlian’s company was granted a license as a large-scale payment institution by monetary authority of singapore, and it was authorized to carry out five services in the local area: account issuance, domestic remittance, cross-border remittance, merchant receipt and electronic currency issuance. Up to now, we have obtained more than 60 payment licenses and related qualifications in China, Hong Kong, China, Britain, the United States, Thailand, Singapore and Brazil.
At the same time, in Southeast Asia, Lianlian International has built a product solution of "Global Bill Receipt+International Wallet" based on the global payment network built by its parent company with more than 60 payment licenses around the world, providing local payment, cross-border payment and value-added services for local online and offline merchants, cross-border e-commerce enterprises, offshore trading enterprises and offshore Internet enterprises, helping the globalization and digitalization process of Southeast Asian merchants.
Lianlian International said that in the past few years, Lianlian International has served tens of thousands of international offshore enterprises and cross-border sellers, and its capabilities in compliance, risk control, technology and services have been fully verified by the market. Based on its mature service system and global payment service network, it can provide basic services such as overseas receipt, collection and payment for merchants in Southeast Asia, and help Southeast Asian customers establish global online trading channels, thus helping emerging market enterprises such as Southeast Asia to realize online and international transformation and share global trade opportunities.
With the deepening of the new round of high-level opening-up strategy, the pace of "going out" of China’s payment and China’s service will also be accelerated again. In the future, more and more China enterprises like Lianlian International will export their mature development experience, seize the new highland of service trade, and let China’s digital services benefit the whole world.
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