What is Lakala? Lakala Review

Lakala Payment

Founded in 2005, Lakala Payment is a leading third-party payment company in China. It is committed to integrating information technology, serving offline entities, and empowering small and medium-sized merchants from all dimensions from the perspective of payment. In 2011, it was the first to obtain the "Payment Business License" issued by the People's Bank of China. Lakala Payment provides payment and acquisition services and business services to small and medium-sized merchants in the form of "online + offline" and "hardware + software". It has launched products such as Lakala Smart POS, Lakala Collection Box, Lakala Collection Treasure, Lakala Cloud Store, Lakala Collection Code, and Lakala Huiguan Store. As of the first half of 2019, it has served more than 21 million merchants in total, and its business covers supermarkets, convenience stores, community retail stores, logistics, catering, property, insurance, trade and other industries.

Cross-border payment services

Lakala is committed to providing overall payment and settlement solutions for domestic and foreign merchants engaged in e-commerce, including foreign currency and RMB cross-border payment and settlement solutions for cross-border transaction e-commerce platforms, as well as payment and settlement solutions for domestic transaction e-commerce platforms. At the same time, Lakala also cooperates with well-known domestic cross-border logistics and warehousing companies to provide merchants with cross-border logistics and warehousing solutions and related value-added services.

In 2014 and 2015, Lakala obtained the pilot qualification for cross-border e-commerce foreign exchange payment business approved by the State Administration of Foreign Exchange, and the registration application license for cross-border RMB payment business approved by the Guangzhou Branch of the People's Bank of China. It can provide cross-border foreign exchange and RMB payment and settlement services to domestic and foreign merchants, and its business scope includes trade in goods and trade in services.

Key Industries

Goods trade, airline tickets, overseas education, hotel accommodation, tourism services, international exhibitions

Payment Products

Agreement payment; mobile gateway payment; PC gateway payment; B2B online banking payment; domestic B2C backend payment; domestic B2C mobile gateway payment; domestic B2C PC gateway payment; domestic B2B online banking payment.

Advantages

1. Comprehensive solution

Including various payment products such as backend, mobile gateway and PC gateway.

2. Safe, stable and efficient

Independent and stable risk control system to strictly ensure transaction security.

3. Professional service team

Professional international team, global customer service experience.

4. Flexible settlement cycle

Customized according to business needs, the fastest time is T+1.

5. Rich settlement currencies

Supports cross-border settlement in 11 foreign currencies and cross-border settlement in RMB.

Development History

In March 2014, Lakala’s mobile payment service was launched, redefining POS and bringing the payment collection business of small and micro merchants into the mobile Internet era.

In September 2014, Lakala Super Mobile Banking APP was launched, providing multiple options for cardless payment and card payment.

On September 16, 2015, the Lakala wristband was launched, which can realize payment functions in various scenarios.

In October 2015, Sun Taoran, Chairman and President of Lakala, as a member of the business delegation led by the President to visit the UK, signed a cooperation framework agreement with ALL Pay Limited, the largest bill payment company in the UK. This became the first order signed during the Chinese business delegation's visit to the UK, marking Lakala's first step towards internationalization.

On December 8, 2015, Lakala held a press conference in Shanghai with the theme of "Beyond Payment, Connecting Infinite Possibilities", launching the Internet intelligent POS and cloud platform to achieve the aggregation of various payment methods, meet the various business needs of merchants, and bring POS into the intelligent and cloud era.

In March 2016, Lakala joined the China Internet Finance Association and became a governing unit.

On May 6, 2017, Lakala's third-generation new smart bracelet - Lakala cross-border bracelet was officially released, with many functions such as sports, heart rate, transportation payment, quick payment, finance, industry applications, etc., truly realizing cross-system, cross-platform and cross-terminal.

On March 28, 2018, Lakala Group and BlueFocus jointly established a joint big data research institute and officially named it "Kunlun Hall".

In October 2018, Lakala obtained VISA's official membership and became VISA's global strategic partner.

In March 2019, Lakala Payment signed a cooperation agreement with the international card organization Discover and officially obtained Discover membership. In April, Lakala obtained membership of the American Express International Card Organization and became a global strategic partner of American Express.

On April 25, Lakala Payment Co., Ltd. was officially listed on the Growth Enterprise Market of the Shenzhen Stock Exchange, becoming the first pure third-party payment stock in the A-share market. This marks a new chapter in the future development of Lakala.

On August 16, Lakala held a strategic briefing and announced that it had entered the Strategic 4.0 era, fully entered the field of industrial Internet, and strategically invested in Qianmi Technology to empower the operations of small, medium and micro businesses in all dimensions.

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