What is Lakala? Lakala Review, Features

Founded in 2005, Lakala is one of the first third-party payment companies in China to obtain a license from the central bank and a leading financial technology company in China.

About Lakala

• 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.

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.

Payment Products

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.

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 collection 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 of cardless payment and card payment.

-On September 16, 2015, 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 Internet Finance Association of China and became a member of the board of directors.

-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, flash payment, finance, industry applications, etc., truly realizing cross-system, cross-platform, and cross-terminal functions.

-In October 2018, Lakala obtained VISA's official membership qualification and became VISA's global strategic partner. -On March 28, 2018, Lakala Group and BlueFocus jointly established a joint big data research institute and officially named it "Kunlun Hall".