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BeijingJune 22, 2026 /PRNewswire/ — During the 4th China International Supply Chain Expo (CISCE), Visa, a global leader in digital payments, and Lakala, a leading third-party payment institution in China, officially signed a strategic Memorandum of Understanding (MoU). The two parties will deepen cooperation around cross-border B2B payment scenarios, leveraging innovative business payment models to enhance corporate cross-border transaction efficiency and capital turnover capabilities, helping Chinese enterprises integrate into the global supply chain system more efficiently and smoothly.
Currently, cross-border payments in the consumer sector are highly digitized, but in B2B trade, a large number of transactions still rely on traditional wire transfers. This model commonly suffers from issues such as long settlement cycles, complex fee structures, and insufficient exchange rate transparency, posing ongoing challenges to the capital management and operational efficiency of small and medium-sized foreign trade enterprises.
Against this backdrop, improving cross-border payment efficiency and optimizing the capital flow experience within a compliance framework has become a key focus for the industry. Addressing this need, Visa and Lakala have defined a solution path centered on business payment capabilities in this collaboration—focusing on advancing the exploration of the Business Payment Solution Provider (BPSP) model, driving the evolution of cross-border B2B payments primarily based on bank transfers toward more digital and scalable solutions. Under this model, corporate buyers can use commercial cards to complete business-to-business payments that previously did not support card acceptance, thereby gaining more flexible account period management and capital arrangements. Meanwhile, suppliers can receive payments in their preferred existing methods without altering their current business processes, achieving a more efficient and certain fund settlement experience.
Leveraging this innovative model, Visa and its partners aim to build a more efficient capital connection and clearing system among transaction parties, enhancing corporate payment experiences while expanding the application boundaries of commercial payments for financial institutions, accelerating the transition of cross-border B2B transactions from traditional transfers to digital payments. On the implementation front, Lakala will rely on its deep accumulation in foreign trade merchant networks and industry scenarios, combined with insights into transaction data and procurement behavior, to collaboratively identify cross-border payment needs. It will gradually link overseas card issuers and payment network resources to promote the application and large-scale replication of relevant solutions in real trade scenarios.
Lakala has long served domestic foreign trade enterprises and industrial belt merchants, accumulating a rich merchant base and industry scenario resources. Visa, on the other hand, relies on its payment network covering over 200 countries and regions worldwide, along with its mature security, compliance, and innovation systems in the commercial payment field, providing robust support for cross-border transactions. The collaboration between the two parties is expected to further streamline the payment link from overseas buyers to Chinese suppliers, enhancing capital turnover efficiency while increasing transaction transparency and predictability.
Yin Xiaolong, President of Visa China, stated: “Against the backdrop of the evolving global trade landscape and the accelerating digitalization of supply chains, the efficiency and stability of cross-border payments are increasingly becoming a crucial pillar of corporate international competitiveness. Currently, cross-border B2B payments are also gradually upgrading from a model dominated by traditional transfers to more efficient and transparent digital payment methods. Through our cooperation with Lakala, we hope to explore innovative paths within a compliance framework, driving this transformation process, helping more enterprises improve their capital turnover efficiency and management capabilities, and better supporting the development of global business.”
Wang Guoqiang, Director and General Manager of Lakala, stated: “This cooperation with Visa is an important practice of deeply connecting global payment network capabilities with local Chinese industry scenarios. Both parties will leverage their respective strengths to jointly enhance cross-border B2B payment efficiency. Lakala will focus on typical foreign trade scenarios such as specialized wholesale markets in Guangzhou, collaborating with more partners to open up the full-service chain of cross-border transactions and payment settlements, helping more small and medium-sized merchants better connect with the global market.”
As global supply chains continue to restructure and Chinese enterprises accelerate their “going global” pace, efficient and secure cross-border payment infrastructure becomes increasingly critical. In the future, both parties will deepen cooperation around cross-border payments, merchant digital services, and emerging trade scenarios, exploring payment solutions that more closely align with real trade needs, injecting sustained momentum into the high-quality development of foreign trade.
About Visa
Visa (NYSE: V) is a global leader in digital payments, serving consumers, merchants, financial institutions, and government entities in more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payment network, enabling individuals, businesses, and economies to thrive. We believe that inclusive economies empower everyone to rise and progress everywhere, and that opening opportunities for all is the foundation of the future movement of money. For more information, please visit: https://www.Visa.cn/
About Lakala
Founded in 2005, Lakala was among the first batch of institutions to receive the “Payment Business License” from the People’s Bank of China in 2011, and is a leading third-party payment institution in China. As a merchant digital operations service provider, Lakala uses payment as an entry point to continuously deepen its “payment+” layout, focusing on sectors such as catering, retail, automotive, and tourism, accelerating the integration of AI with business, and providing merchants with digital and intelligent overall solutions to support the high-quality development of the real economy. In recent years, Lakala has been advancing its capabilities in cross-border payments, foreign card acceptance, and global merchant services, helping more Chinese merchants connect with the global market.