- Reportedly, Qupital, a Hong-Kong based FinTech company, has partnered with LianLian Global, China’s cross-border payment solution provider.
- Ripple partner LianLian Global will offer pioneering besides data-based offshore USD financing services mainly to e-commerce clients of LianLian Global’s extensive network.
- Both these firms have jointly developed a new FinTech product called QiaoYiDai, thereby provisioning the above services.
Reportedly, Qupital, a Hong-Kong based FinTech company, has partnered with LianLian Global. LianLian is China’s cross-border payment solution provider. It came to attention through a tweet later yesterday. Ripple partner LianLian Global will offer pioneering besides data-based offshore USD financing services mainly to e-commerce clients of LianLian Global’s extensive network. Thus, Both these firms have jointly developed a new FinTech product called QiaoYiDai. Thereby this latest product will provide the above services.
More ripple tech adoption
— Matt (@MatthewLINY) May 20, 2020
Latest FinTech Product ”QiaoYiDai” developed jointly to fuel business growth
The primary motivation behind the development of these fintech products for cross-border e-commerce customers is for overcoming previous drawbacks. Forbye, the emergence of these products provides additional cash flow to customers and sellers for further business growth. Throwing light on a few of the shortcomings the e-commerce sellers faced include the complexity of procedures and stiff policies of traditional lenders. Additionally, their financing demands were also frequently occurring, meaning they were short-cycled.
Drawing attention to the uniqueness QiaoYiDai owns is that it functions as a digitalized financing solution. It is built through real-time e-commerce statistics and big data deployment. The product, through its advanced functioning, will allow enterprises to offer online application and smooth processing of the approval. Alongside this, the companies through the product now own the power to complete credit assessment processing within a few business days.
Furthermore, QiaoYiDai’s design enables business cycles to reduce financial costs besides enabling procedures involving a short time duration.
Qupital and LianLian Global share a similar vision: Qupital’s Chief Executive Officer
Winston Wong, Qupital’s Chief Executive Officer, shares his delight about their partnership with LianLian Global. Wong asserts that they seek to offer LianLian Global’s customers an easy and cost-efficient financing solution. He believes both the firms share similarities in their vision to contribute to the growth of cross-border sellers in e-commerce’s latest era.
A brief outline of this tactical partnership
It is evident to our understanding that this partnership of Qupital with LianLian Global is mainly advantageous to cross-border sellers. The e-commerce sellers can focus on increasing their revenue streams to add efficiency to their cross-border capital flows. To further notify LianLian Global’s contribution, it is mainly beneficial in enhancing QiaoYiDai’s fund’s flow capabilities. Also, it will pay its contribution to the reduction of credit risks, and simultaneously enabling product automation.
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