Yueda Card to streamline cross-border business payments

Visa, a global leader in digital payments, and LianLian Global, a prominent cross-border payment solution provider, have announced the launch of the Yueda Card.

This collaboration aims to enhance cross-border payment experiences for businesses, particularly SMEs and corporates, by leveraging Visa’s global network and LianLian Global’s innovative technology.

The partnership is driven by the growing demand for efficient, secure, and seamless cross-border payment solutions in the Chinese e-commerce and foreign trade sectors. Data from the General Administrator of Customs highlights China’s cross-border e-commerce market growth, with import and export volumes reaching 1.88 trillion yuan in the first three quarters of 2024, up 11.5% year-on-year.

However, challenges persist, including payment security, unpredictability in transaction times, and high fees.