Thredd supports LianLian Global’s virtual card expansion in APAC

By Gloria Mathias

Thredd, a global payments processor, has announced the launch of LianLian Global’s virtual card program in the APAC market.

Lianlian Global is a cross-border payments company based in China. It specialises in delivering cross-border fund settlement services with instant payouts and frictionless customer experiences.

LianLian Global has selected Thredd to power its Yueda virtual card product, which is used by customers in a wide range of industries, including eCommerce, international B2B trade and travel. For these customers, the Thredd partnership supports effortless management of their international operations with the speed, security, transparency and simplicity of global fund transfers via card payment rails.

Thredd has launched a successful programme and a clear roadmap for geographic expansion with LianLian Global over the next 12 months.

Tim Shen – Co-CEO of LianLian Global, said, “Utilising Thredd’s virtual card issuing capabilities, we will be able to deliver on our ambitious growth plans for 2024 and beyond. We have already secured payment licences covering eight, including mainland 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.”

Jim McCarthy, CEO of Thredd, stated, “We are pleased to support the growth of one of Hong Kong’s leading payments businesses, ensuring that LianLian Global customers’ B2B payments flow smoothly regardless of geography or currency. It was an honour to meet their wider team recently in Hangzhou and experience first-hand how our solutions are helping to overcome the challenges associated with cross-border payments in the region.”

This news follows the recent announcement of Thredd’s partnership with TerraPay to support virtual card payments for the travel industry. In addition to Thredd’s growing presence in the APAC market, they recently launched in the U.S. with their second U.S. client, Spendbase, due to go live in Q4 of this year.