Digital payment solutions company Thredd announced a partnership with global payments company LianLian Global to help the Singapore-based company launch its virtual card program in the APAC market.
LianLian, which specializes in cross-border settlement services with instant payouts, selected Thredd to power its Yueda virtual card product. Designed to facilitate cross-border payments and financial management for businesses, Yueda provides comprehensive payment services, including multi-currency support, payment collection, and fund transfers, tailored specifically for the needs of businesses in a range of industries, including e-commerce, international B2B trade and travel, engage in international trade and commerce.
Founded in 2007 and headquartered in London, Thredd offers digital payment solutions to help businesses simplify financial transactions. In addition to the virtual card service that LianLian will use, Thredd also delivers card issuance, payments processing, card controls, risk and fraud, digital wallets, and cross-border payments solutions.
“Utilising Thredd’s virtual card issuing capabilities we will be able to deliver on our ambitious growth plans for 2024 and beyond,” said LianLian Global Co-CEO Tim Shen. “We have already secured payments licenses covering eight [regions], including mainland China, China, Singapore, the U.S., the U.K., Luxembourg, Thailand, and Indonesia. We are delighted to find a partner in Thredd who can support us with virtual cards that will ensure that no matter where a client needs to send a payment, it will be supported. Access to a local team of experts who speak our language has made the implementation and ongoing operations seamless.”
Today’s announcement comes after Thredd partnered with TerraPay in June to support virtual card payments for the travel industry. Thredd has also recently launched in the U.S., having secured its second U.S. client, Spendbase, in June.
Photo by Clay Banks on Unsplash
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In conclusion, the partnership between Thredd and LianLian Global marks a significant step towards enhancing cross-border payment services in the APAC region. By leveraging Thredd’s advanced virtual card technology, LianLian Global aims to revolutionize the way businesses manage their financial transactions across borders. With a focus on providing seamless and secure payment solutions, this collaboration is set to streamline international trade and commerce for a wide range of industries.
The innovative approach taken by both companies showcases their commitment to driving financial inclusion and efficiency in today’s global economy. As virtual card usage continues to rise, the introduction of Yueda virtual card product by LianLian Global, powered by Thredd, is poised to make a meaningful impact on how businesses conduct cross-border payments effectively and effortlessly.
With Thredd’s proven track record in delivering digital payment solutions and LianLian Global’s expertise in cross-border settlement services, the partnership represents a powerful synergy that promises to benefit businesses and consumers alike. As the digital payments landscape evolves, collaborations like this pave the way for greater financial accessibility and convenience for businesses operating in the APAC market and beyond.
Overall, the future looks promising for cross-border payments with the introduction of virtual card technology by Thredd and LianLian Global. This strategic partnership signals a new era of efficiency and innovation in the digital payment space, shaping the way businesses conduct transactions globally. Exciting times lie ahead as we witness the transformative impact of virtual card solutions on the way we manage cross-border payments and financial transactions.
Keep an eye on DeFi Daily News for more updates and insights into the dynamic world of digital finance. Stay connected and informed about the latest trends and developments that are reshaping the financial industry today.
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