Lian Lian Group Has Been Granted Cross-Border Payment Through Thailand Payment License.

On August 13th, the group announced yesterday that its "Thailand company" has been officially awarded the "bank card payment" and "authorized payment" license issued by the Thailand Central Bank (BOT), which is a Chinese enterprise applying for the payment of a licence by YISHION foreign company in Thailand.

After obtaining the payment license in Thailand, the group will be allowed to conduct local receipts, local distribution and cross-border payments in Thailand. Wang Yunna, a CEO company in Thailand, has revealed that the group has reached some cooperation intentions with a number of mainstream Chinese electronic wallets on various local businesses in Thailand. In the future, the group will develop local retail, air travel, cross-border electricity providers and other fields based on Thailand's payment licences, providing payment services for small and medium-sized online and offline businesses and cross-border businesses.

It is reported that Thailand is the second largest economy in Southeast Asia and the fourth largest population country, with a total population of over 69 million and GDP per capita of more than 7200 dollars. At the same time, Thailand is also a hot spot of venture capital in China, and is an important hub for Chinese enterprises to expand the Southeast Asian market.

According to statistics, as of 2018, the number of Internet users in Thailand exceeded 57 million, accounting for 82% of the total population, of which 55 million 10 thousand were active mobile Internet users, accounting for 79% of the total population. Among Southeast Asian countries, Thailand's Internet and mobile Internet penetration is at the forefront. The continued high Internet penetration has promoted the development of Internet payment, especially mobile payment in Thailand. In 2018, there were 74% Internet users in Thailand using mobile banking, 47% users using mobile phones to pay, and 71% users completing online trading through mobile phones.

In addition, Thailand mobile payment market participants mainly include three categories, one is the mobile payment scheme dominated by local banks, the other is Thailand local wallet mobile payment tools, and the other one is the localized payment products launched by other countries in Thailand.

Wang Yunna said that the mobile payment market for the C end users in Thailand is developing rapidly and the competition atmosphere is fierce. However, the payment agencies that directly serve the B end enterprises are relatively scarce. In the future, the B end mobile payment experience in China will be exported to the Thailand market in the near future, providing full payment services for Chinese enterprises expanding the Thailand market and Thailand local enterprises.

Up to now, Lian Lian Group has obtained 40 financial payment licenses and business qualification licenses in China, Hongkong, Thailand, the United Kingdom, Japan, the United States and other countries and regions, of which 29 states in the United States have been licensed. Lian Lian Group official said that in the future, it will further accelerate the application of overseas financial payment license, and build a new global payment network in the digital age.