Lianlian Pay’s cross-border e-commerce payment and settlement model and its characteristics

As a service platform specially designed for cross-border e-commerce sellers, Lianlian Pay mainly provides cross-border collection, cash withdrawal and PayPal account cash withdrawal services for Amazon stores.

Cross-border payment collection and withdrawal

Help merchants with cross-border collection and cash withdrawal on Amazon stores

Lianlian Pay’s cross-border collection supports five major sites including Amazon North America, Japan and Europe. It can open the four major currencies of US dollars, Japanese yen, euros and pounds at one time, which can provide convenience for cross-border e-commerce sellers. international collection services. When opening a store on Amazon, overseas customers cannot directly transfer money into the domestic bank account of the domestic merchant, so the domestic merchant needs to use an overseas bank account to collect payment. This process can be carried out in the following ways:

• Domestic sellers set up their own overseas bank accounts: This method usually involves establishing an overseas subsidiary, conducting Amazon transactions through the company, and then transferring the funds back to the country in the form of traditional trade.
• Use offshore accounts: Although this method is common among traditional trading companies, for cross-border e-commerce, this method will result in higher currency loss fees.
• Use Lianlian Pay’s cross-border collection service: This method is not only simple to operate, but also has lower costs, fewer procedures, and fast collection speed. The Amazon withdrawal fee of Lianlian Pay is only 0.7%, covering all sites and currencies, and the withdrawal speed is extremely fast. It can provide professional, flexible, efficient and convenient international cross-border collection services for cross-border e-commerce sellers.

PayPal account withdrawal

Lianlian Pay has cooperated with PayPal to launch a RMB withdrawal service, which allows merchants to withdraw the balance in their accounts in RMB, reducing the cash flow pressure on merchants and improving the convenience of transactions. This service has the following features:

• No foreign exchange limit of US$50,000 per capita per year;
• Applicable to PayPal accounts registered by Chinese citizens and Chinese companies;
• The exchange rate is based on the US dollar spot exchange rate of the Bank of China on that day;
• The handling fee is only 1.2%, the arrival time is 3-4 days, and there are no other fees;
• The minimum withdrawal amount is US$150, and the maximum single withdrawal amount is US$10,000; no more than 5 withdrawals are made per day, and the daily withdrawal limit is US$30,000.

Features of Lianlian Pay’s cross-border e-commerce payment and settlement

Convenient and fast

Use Lianlian Pay to withdraw cash. For domestic Amazon merchants, the fastest payment speed can reach 6-7 seconds, and withdrawals can usually be completed within 2 hours. Even for PayPal account withdrawals, although it takes 3-4 days to arrive, it is still much faster than withdrawing money to a bank card.

Low cost

The Amazon withdrawal fee provided by Lianlian Pay is as low as 0.7%, which is much lower than other companies that officially cooperate with Amazon. In addition, when users withdraw foreign currencies in PayPal into RMB through Lianlian Payment, the handling fee is only 1.2%, and there are no other additional fees.

Safe and reliable

In terms of the security of cross-border payment services, Lianlian Pay is second only to Alipay and WeChat Pay. It has obtained payment business licenses, cross-border RMB settlement business licenses and cross-border foreign exchange licenses issued by the People’s Bank of China and the State Administration of Foreign Exchange. The settlement business license has the authoritative certification of dual business licenses from the People’s Bank of China and the State Administration of Foreign Exchange, ensuring the safety of fund operations.