What is Lakala? Lakala Review

Founded in 2005, Lakala is China's leading comprehensive financial technology group. Adhering to the concepts of inclusiveness, technology, innovation and integration, it has created a user-oriented symbiotic system with payment and financial technology services as the core, providing safe and reliable comprehensive financial services for individual and corporate users.

About Lakala

Lakala is a well-known third-party payment company in China, focusing on integrating information technology, serving offline entities, and empowering small and medium-sized merchants from all dimensions starting from payment. It provides customers with payment technology, financial technology, e-commerce technology and information technology services. As of the end of June 2019, Lakala Payment covered more than 21 million merchants.

As one of the first third-party payment companies in China to obtain a license issued by the central bank and a leading domestic financial technology company, Lakala has business segments such as payment services, financial technology, and industrial funds. Among them, Lakala Payment Co., Ltd. was listed on the Shenzhen Stock Exchange on April 25, 2019, with the stock code 300773.

In the field of third-party payment, Lakala provides personal payment, merchant acquiring and related derivative services in the form of "online + offline" and "hardware + software", and realizes the layout of terminal products in all scenarios by launching various terminal products such as smart POS and cashiers. On this basis, with terminals as carriers, it provides value-added services for various industries such as catering, retail, insurance, education, and tourism, and empowers the majority of B-end merchants.

Lakala has long been committed to providing Internet finance and community e-commerce services to community residents. Through Lakala's existing technology and platform, it continues to expand terminal types and service channels, build a city-wide self-service payment network, form a "platform + terminal" service model, and build a public utility payment, e-commerce, convenient finance and other service systems, tailored to different industries as a whole.

Products and Services

Domestic Payment

Agreement payment, mobile gateway payment, PC gateway payment, B2B online banking payment, domestic B2C back-end payment, domestic B2C mobile gateway payment, domestic B2C PC gateway payment, domestic B2B online banking payment.

Cross-border payments

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.

Product 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

Lakala 1.0: Making convenience stores more convenient

2005 China's first electronic bill service platform

Lakala was established and took the lead in developing an electronic billing service platform.

In 2006, the “Online Shopping Card Payment” was launched

Lakala signed a strategic cooperation agreement with China UnionPay to launch electronic bill payment services and UnionPay standard card convenience service outlets;

In June 2007, Lakala started to build Lakala convenient payment points in Beijing and Shanghai. Nearly 2,000 Kuaike convenience stores in Shanghai became Lakala convenient payment points.

2008 Established a new credit card repayment model in convenience stores

Lakala has entered cities such as Chengdu, Xi'an, Nanjing, Suzhou, Wuxi, Changzhou, Zhengzhou, Changsha, Dongguan, Foshan, Zhuhai, and Zhongshan;

In September 2009, Lakala had completed full coverage of 38 cities and layout in 88 cities, with more than 30,000 convenient payment points and 6 million monthly transactions. 99% of brand convenience stores have reached strategic cooperation with Lakala.

In 2010, we became an important partner of the Santong Project

In April, Lakala released the Mini home card swipe machine, reducing the payment environment to the home;

In November, Lakala became an important service and equipment supplier for Beijing's "Three Links" project construction.

Ranked first in the first batch of companies that obtained payment licenses in 2011

Lakala was the first to obtain the "Payment Business License" issued by the central bank, and obtained national payment licenses such as Internet payment, bank card acquiring, and prepaid card acceptance, ranking first in China's third-party payment industry.

In May 2011, Lakala obtained the first batch of "Payment Business Licenses" issued by the central bank;

In September 2011, Lakala Super Shield was launched on the market;

In December 2011, Lakala entered the merchant acquiring service market and innovatively launched a variety of POS products and services for small, medium and large merchants;

In 2012, we opened up a new battlefield and entered the acquiring market

Lakala has fully entered the merchant acquiring service market and innovatively launched a variety of POS products and services for large, medium and small merchants.

In May, Lakala launched the mobile card reader, completing the three-dimensional strategic layout of the third-party payment market for banks, merchants and individuals.

In September 2013, Lakala launched Kaidianbao, officially entering the 3.0 era;

In September, Lakala launched Kaidianbao, a community finance and e-commerce platform integrating "payment, life, online shopping, and finance", which promotes the development of community e-commerce through the seamless integration of offline and online.

In 2014, mobile payment collection tool redefined POS

In March, 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 June 2014, Lakala launched an innovative banking solution and formulated the "Huinongtong" business to promote basic financial services in rural areas.

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

In December 2014, Lakala Group donated RMB 300,000 to the Zheng Dongguo Education Fund.

In July, Lakala launched the "Pay for You" service, providing short-term repayment services for credit card users, marking Lakala's official entry into the broader Internet finance field beyond payment.

2015

In January, Kaola Credit, a subsidiary of Lakala, obtained the qualification for preparation of personal credit reporting business from the central bank.

In September, Lakala jointly established an Internet industry investment fund - Koala Fund with many well-known institutions such as Lenovo Holdings, Guoke Holdings, and BlueFocus. The scale of the first fund is 1 billion yuan, and the investment direction focuses on financial technology, consumption upgrades, enterprise services and other fields.

In February 2015, Lakala version 6.0 was launched, covering credit reporting.

In April 2015, Kaola Credit, a subsidiary of Lakala, launched merchant credit scores.

In September 2015, Lakala wristband was launched to meet payment needs in all scenarios.

In October 2015, Lakala's Sun Taoran visited the UK with the Chinese business delegation to the UK;

In December 2015, Lakala launched the smart POS and cloud platform;

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

2016

In March, Lakala joined the Internet Finance Association of China and was elected as a director unit.

In October, Guangzhou Lakala Online Microfinance Company was unveiled.

In December, Lakala Finance’s second-generation risk control system, the “Eagle Eye” risk control system, was launched, which can return multi-dimensional customer assessments in seconds.

2017

In January, Lakala donated to the Haidian Education Foundation to promote the high-level and balanced development of Haidian’s basic education.

In June, Lakala donated 50 million yuan to Peking University to establish the Peking University Lakala Education Fund to promote talent cultivation and campus cultural undertakings at Peking University.

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

2018

On March 28, Lakala Group and BlueFocus jointly established a joint big data research institute, which was officially named "Kunlun Hall". Through the research and development of cloud computing, artificial intelligence algorithms, service robots, blockchain applications and other technologies, they will strive to create a leading smart business platform.

In October, Lakala Payment obtained VISA's official membership and became VISA's global strategic partner. This not only laid a solid foundation for Lakala's internationalization, but also marked a new milestone in the development of Lakala's foreign card business.

2019

On March 26, Lakala Payment signed a cooperation agreement with the international card organization Discover and officially obtained Discover membership. This is the second international card organization membership that Lakala Payment has obtained after becoming a Visa member.

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.

Honors

In June 2007, Lakala was named "2007 China's Best Fixed-line Payment Service Provider";

In November 2008, Lakala won the "Best Innovation Model Award of 2008 Outstanding Performance Award" from China Business News;

In December 2008, Lakala won the "Best Channel Construction Award"

In November 2009, Lakala won the "Best Electronic Payment Innovation Award";

In September 2009, Lakala won the "Innovative Product Award" and the "Annual Excellent IT Service Special Award";

In November 2009[70], Lakala was selected as one of the top 50 companies with the greatest investment potential in the 2009 (third) China Venture Capital Value List.

In November 2010, Lakala won the "21st Century China Best Business Model Award (2010)";

In December 2010, Lakala won the "2010 Best Corporate Social Responsibility Contribution Award";

In October 2011, Lakala was awarded the title of "Top 10 Chinese Enterprises in Micro-Innovation in 2011";

In August 2011, Lakala won the "China's Most Promising Emerging Enterprise Award" in the 2011 Standard Chartered Bank China Growth Enterprise Value List;

In May 2012, Lakala won the title of "China's Top 50 Mobile Internet Companies" in the 6th China Communications Industry List;

In December 2012, Lakala won the third place in the 11th China Top 100 Growth Enterprises Award issued by New Leading Media;

In December 2012, Lakala won the annual innovative technology achievement award in the "Global Newcomer List" of CCTV Finance Channel;

In December 2012, Lakala won the third place in the 11th China Top 100 Growth Enterprises;

In December 2012, Lakala won the Innovation Leadership Award;

In December 2012, Lakala won the 25 Most Influential Business Leaders - Business Newcomer Award;

In December 2012, Lakala won the title of Outstanding Technological Innovation Product in the Global Newcomer List;

In December 2012, Lakala won the "2012 Golden Cicada Award for Most Innovative Third-Party Payment" issued by China Times;

In October 2013, Lakala won the "Golden Tripod Award" at the China International Finance Exhibition, and Lakala Store Opening Platform won the "Annual Outstanding Solution Award";

In December 2013, Lakala won the "2013 China's Best Internet Financial Product" award;

In December 2013, Lakala won the Best Mobile Consumer Interaction Award;

In November 2013, Lakala won the "China Financial Excellence Award";

In 2013, Lakala won the honor of "Excellent Third-Party Payment Institution";

In January 2014, Lakala won the "2013 Mobile Payment Innovation Award" at the China Electronic Finance Annual Conference;

In January 2014, Lakala won the "2013 China Internet Finance Innovation Award";

In August 2014, Lakala's innovative banking integrated solution won the "Golden Tripod Award" at the 2014 China International Finance Exhibition.

In 2014, Lakala won the Golden Bee Award for "Social Network Marketing Case", "Top Ten Corporate Official Weibo in 2014", and "Top Ten Corporate WeChat Public Accounts in 2013";

In November 2014, Lakala won the "2014 Internet Financial Payment Security Alliance Security Promotion Excellence Award" issued by the Ministry of Public Security and China UnionPay;

In 2014, Lakala won the Xinhuanet 2014 Internet Finance Corporate Social Responsibility "Golden Spider" Outstanding Enterprise Award and Internet Finance Practice Award;

In 2014, Lakala won the "Annual Internet Financial Innovation Solution Award" and "Annual Best O2O Business Model Award" from the Organizing Committee of the 10th Beijing International Financial Expo.

In December 2015, it won the "Excellent Financial Services Award" in the annual selection of China's financial industry leader;

In December 2015, Zero2IPO Group ranked among the top 50 in the 10th China's Top 50 Most Valuable Companies for Investment (ranked 7th);

In January 2016, Lakala Group was listed in the "2016 Hurun New Financial Top 100 List (Top 50)" and won the "2016 China Best User Experience New Financial Enterprise";

In January 2016, the China Mobile Payment Industry Association awarded the "2016 China Mobile Payment Industry Annual Influence Award";

In February 2016, Lakala Wallet won the "Most Popular Financial Management APP Award" in the most popular APP selection event hosted by Xinhua News Agency.

In February 2016, Lakala won the "Most Innovative Payment Brand" award at the China Payment Network Golden Shell Award

In May 2016, the Economic Observer hosted the "New Finance Lecture Hall Along the Road" event, and Lakala won the title of "New Finance Pathfinder Pioneer Enterprise"

In October 2016, Lakala won the 2016 "Analysys Star" award at the "2016 Analysys Star Award Ceremony" hosted by Analysys Think Tank.

In November 2016, Lakala won the "Annual Innovative Payment Institution" award at the "New Finance Annual Conference and China Financial Innovation List" hosted by China Business Network & Lujiazui Magazine.

In December 2016, Lakala won the "Top Ten Internet Financial Innovation Companies of 2016" award issued by the 2016 Financial Times Annual Meeting.

In December 2016, Lakala won the "2016 Beijing Financial Industry Top Ten Brands - Transformation and Upgrading Pioneer Award" awarded by the 2nd Beijing Financial Forum.

In December 2016, Lakala won the 2016 "Golden Tripod Award - Excellent Internet Financial Platform" at the 7th Golden Tripod Award Ceremony and "2016 Golden Tripod Night" hosted by the National Business Daily.

In December 2016, Lakala won the 2016 "Best Inclusive Financial Service" at the "2016 BRICS Award" ceremony hosted by Southern Metropolis Daily.

In January 2017, at the 2017 First China Fintech Innovation Conference and the 10th China Internet Finance Annual Conference, Lakala won the "2016 Outstanding Brand Award" in the China Fintech Innovation List.

In January 2017, Lakala was once again listed in the "2017 Hurun New Finance Top 50" issued by Hurun Report.

In January 2017, Lakala was awarded the "2017 China Mobile Payment Industry Annual Influence Award" by the China Mobile Payment Industry Association.

In January 2017, Lakala was awarded the "2016 Excellent Brand Award" by the Internet Finance Association.

In June 2017, Lakala was awarded the "2017 Top Ten Internet Financial Marketing Innovation Award" by The Banker.

In June 2017, Peking University awarded Lakala the "Peking University Outstanding Education Contribution Award"

In September 2017, Lakala Payment was listed in the "2017 China Third-Party Payment Pioneer List" of Securities Times

In September 2017, at the 3rd (2017) China Inclusive Finance Conference, Lakala was awarded the "2017 Inclusive Finance Excellent Brand Award" by the Internet Finance Working Committee of the Internet Society of China.

In November 2017, Lakala was awarded the title of "2017 Financial Technology Influential Enterprise with Excellent Competitiveness" by China Business News and the Chinese Academy of Social Sciences.

In November 2017, Lakala was awarded the "2017 Public Welfare Financial Institution Award" by Southern Metropolis Daily.

In November 2017, Lakala Payment was listed in the "2017 Beijing Software and Information Service Industry Comprehensive Strength Top 100 Enterprises List"

In December 2017, Lakala was awarded the title of “Excellent Data Reporting Unit” by the China Payment and Clearing Association.

In January 2018, Lakala was awarded the "2017 Golden Shell Annual Payment Institution Award" by China Payment Network.

In January 2018, Lakala won the "2017 Most Dazzling Financial Technology Award" issued by Securities Daily.

In January 2018, Lakala won the Phoenix WEMONEY Treasurer Award - 2017 Outstanding Institution of the Year in Industry Influence

In February 2018, Lakala won the "Outstanding Secure Payment Brand Award" in the 2017 China Leading Financial Industry Annual Selection

In June 2018, Lakala was awarded the title of “2018 Fintech Pioneer Institution” by the International Financial News Agency.

In August 2018, Lakala won the China Brand Festival Golden Award for "Consumer Trust Brand"

In September 2018, Lakala Payment was awarded the "2018 China Third-Party Payment Pioneer List" by the Securities Times.

In October 2018, Lakala won the 9th Golden Tripod Award for “Outstanding Financial Technology Company of the Year” issued by the National Business Daily.

In October 2018, Lakala won the "Annual Case Award for Corporate Culture Construction"

In December 2018, Lakala won the "Most Technologically Powerful Institution Award" of the Southern Metropolis Daily Golden BRICS Award.

In December 2018, Lakala was awarded the title of "2018 Financial Technology Influential Enterprise with Excellent Competitiveness" by China Business News.

In December 2018, Lakala won the "2018 Financial Technology Risk Control Platform" award from the China Times Golden Cicada Award.

In January 2019, Lakala won the "2018 Financial Technology Outstanding Product Innovation Award" from the Beijing News.

In January 2019, Lakala won the title of "2019 Hurun New Finance's Most Socially Responsible Enterprise"

In January 2019, Lakala won the "2018 Responsible Brand Award" at the 8th China Charity Festival

In January 2019, Lakala won the 2018 Financial Technology Outstanding Product Innovation Award from the Beijing News

In May 2019, Lakala won the 2019 Golden Yuan Award for "Consumer Trustworthy Brand"

In August 2019, the "Top 100 Chinese Internet Companies in 2019" was released, and Lakala ranked 82nd.

On January 9, 2020, Hurun Research Institute released the "2019 Hurun China Top 500 Private Enterprises", and Lakala ranked 395th with a market value of 19 billion yuan.

In June 2020, Lakala was selected into the "2020 Forbes China's Most Innovative Companies List".

On August 4, 2020, Lakala ranked 99th on the 2020 CCID's list of the most valuable companies in the digital economy.