Worldpay, a global leader in payments, has partnered with Lianlian Pay, a China-based mobile payment service provider to expand its settlement and pay out capabilities to include Chinese Yuan (CNY).
Lianlian Pay provides an efficient and cost-effective cross-border payment and money transfer solution to Chinese and international businesses and marketplaces. As a result of the partnership, Worldpay customers can expect access to pay outs in CNY and enhanced deposit capabilities, on top of the 18 settlement currencies already available via a single technical connection.
The strategic collaboration will open up local currency settlement and pay out services to businesses across retail, travel and airlines sectors.
By partnering with Lianlian Pay, Worldpay will also be able to further streamline their one-stop service to ecommerce businesses; reducing the time it takes for merchants to receive their funds in local currency in China.
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