General

At the 12th China International Service Outsourcing Trade Expo, Lianlian International, a subsidiary of Lianlian Digital, officially announced the launch of the payment service for local students in Southeast Asia. After this service function is launched, overseas study institutions can provide more comprehensive services to Thai, Singapore, and Indonesian students studying in mainstream countries and regions such as Europe, America, and Australia through the exclusive payment solution customized by Lianlian International, and support students to complete the remittance of their study fees in their native currency.

With the increasing demand for education from Southeast Asian families and the increasing number of local students studying abroad, more and more Chinese institutions studying abroad are starting to expand their mature domestic service experience to Southeast Asia, helping Chinese students study in Southeast Asia and serving local students to study in Europe, America, and Australia more conveniently. However, due to the complexity and diversity of countries and overseas institutions to which students are going, overseas institutions often face the following difficulties when facing student payment: there are many cross-border payment scenarios, and multi-channel fund management is inconvenient; The traditional wire transfer process is cumbersome, prone to errors, and slow to receive funds; Overseas universities have diverse collection methods, and domestic banks are unable to meet all payment needs.

"During the service process, we observed that local students in Southeast Asia urgently need to use multiple local payment methods to pay fees and distribute fees such as tuition and rent to the local accounts of universities/partners," said Mr. Chen, a student payment service platform in Beijing

In response to the payment related pain points faced by international institutions, such as multiple channels, difficult management, slow fund receipt, and complex payee needs, cross-border service platforms with multiple global locations have created industry solutions to provide international institutions with diversified payment methods, meet the payment needs of universities in different countries, assist in solving the problems of student payment management at international institutions, and bring a more convenient and hassle free cross-border payment experience to the international student community.

Specifically, Lianlian International's payment solution services for the study abroad industry include providing local collection accounts and supporting multi currency exchange; Support multiple payment methods to pay fees to schools or rental institutions; By reducing expenses and costs, improving payment efficiency, helping customers achieve profit improvement, and so on.

The online payment service for local students studying in Southeast Asia is a further embodiment of the rich and perfect payment solutions for the study industry and the deep cultivation of the "international products"+"localized operation" model.

In 2023, global economic and trade growth is still facing certain pressures, while digital trade, emerging markets, e-commerce, and others are expected to become new trends and opportunities. Recently, at a series of themed press conferences held by the National Development and Reform Office of the People's Republic of China, Minister of Commerce Wang Wentao stated that this year, the possibility of expanding the "cake" of global foreign trade is relatively small, and China will work on the three pillars of "upgrading international trade in goods, innovating in service trade, and developing digital trade" to promote the stability and optimization of the scale and structure of international trade.

Lianlian International stated that in the next step, Lianlian International will comply with the new trend of economic and social digitization and international trade development, seize the development opportunities of digital trade, continue to steadily tap mature markets and fully explore emerging markets in international trade; At the same time, it will pay more attention to localized operations, product and service innovation, so that consumers can enjoy more convenient and high-quality "Chinese services", improve the international competitiveness and influence of service trade, and deeply assist China in opening a new situation in international trade.