Core Insights - Multiple payment institutions have recently announced the acquisition of overseas payment licenses, indicating a trend towards globalization and compliance in the cross-border payment industry [1] - The push for overseas licenses is driven by policy support and market demand, with leading institutions actively expanding into international markets to gain first-mover advantages [1] Group 1: Company Developments - PingPong has received approval from the Central Bank of Malaysia, becoming the first Chinese ToB cross-border payment institution to hold an MSB license, enabling it to provide compliant global payment solutions for local and global businesses [2] - Since 2021, Yika has focused on overseas markets, obtaining payment licenses in countries like Singapore and the USA, and has seen its overseas transaction volume grow nearly fivefold year-on-year in 2024 [3] - Lianlian Digital has successfully acquired an EMI license in Luxembourg, furthering its global strategy and expanding its service coverage to over 100 countries and regions [4] Group 2: Market Trends - The demand for cross-border transactions is increasing as Chinese enterprises expand internationally, prompting payment institutions to establish a presence in overseas markets [4] - Obtaining overseas payment licenses is seen as a critical step for payment institutions to transition from single payment channels to comprehensive financial service platforms, addressing the full spectrum of enterprises' international needs [3][4] - The complexity and high costs associated with cross-border payment processes highlight the importance of overseas licenses in providing efficient and secure payment channels for Chinese enterprises [4]
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