Thunes Announces Strategic Partnership with LianLian Global for Enhanced Cross-Border Payment Service

Thunes, a prominent Singapore-based payment firm, has announced a strategic partnership with LianLian Global, a Chinese e-commerce cross-border payment service provider. This collaboration integrates LianLian Global into the Thunes Global Network, aiming to streamline and enhance international payment solutions.

In an official statement, Thunes highlighted that LianLian Global is introducing the LianLian Global Payout Service (LGPS), leveraging Thunes’ compliant payment network to facilitate payouts to digital wallets and bank accounts across more than 130 countries. This initiative underscores Thunes’ dedication to supporting the expansion of Chinese e-commerce and simplifying cross-border transactions on a global scale.

The LGPS addresses common issues associated with traditional cross-border payments, such as high costs, slow processing times, and complex procedures. By joining forces with Thunes, LianLian Global offers a transparent, efficient, real-time, and secure payment solution for payment service providers (PSPs), banks, and other licensed financial institutions.

This partnership enables over 1 million Chinese businesses to send payments to more than 3 billion digital wallet accounts and 4 billion bank accounts in over 130 countries, encompassing more than 80 currencies.

“LianLian Global is a highly respected leader in cross-border e-commerce, and we are pleased to partner with them to deliver the fastest, most transparent, and fully compliant global payment solutions to 1 million merchants in China,” stated Floris de Kort, Chief Executive Officer of Thunes.

Shen Enguang, Co-Chief Executive Officer of LianLian Global, added, “We are dedicated to building a digital payment network that facilitates global enterprise expansion. With the launch of LianLian Global Payout Service and the support of our trusted partner, Thunes, we aim to enhance cross-border payment efficiency and create new opportunities in international trade, particularly supporting the dynamic growth of Chinese businesses in the global market.”

Thunes operates as a global payment firm enabling real-time money transfers. The company supports transactions in over 80 currencies across 130 countries, utilizing various local payment methods, including 120 mobile wallets like PayPal, M-Pesa, and Airtel. Thunes caters to a diverse clientele, including gig economy giants such as Uber and Deliveroo, super-apps like Grab and WeChat, international money transfer operators (IMTOs), fintechs, PSPs, and banks. Headquartered in Singapore, Thunes maintains a presence in 13 locations worldwide, including Barcelona, Beijing, Dubai, London, Manila, Nairobi, Paris, San Francisco, and São Paulo.

LianLian Global, a key brand under LianLian Digitech, excels in cross-border finance and services in China. Collaborating with industry partners, the company offers a comprehensive cross-border trade service platform. This platform integrates store opening assistance, global funds collection, global acquiring, global payout, LianLian FX, financing services, tax refund assistance, and other services to support the international expansion of Chinese brands.

Disclaimer: The information in this article is for general purposes only and does not constitute professional advice.

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Post-Brexit: data protection
Card processor sends sensitive data to wrong address
24 August 2022

Worldline SA subsidiary Payone GmbH has been accused of breaching data protection rules after it sent sensitive employee payroll information to the wrong address by accident. The Worldline Group holdS a 60% stake in the Frankfurt based company who have a small UK market presence.

In June 2021, one of Payone GmbH’s ex UK employees (the data subject) received a “potential data breach notification” from the firm advising him that his salary, National Insurance data, nationality (Special Category Data) was amongst various bits of information sent to an incorrect home address.

This included personal information such as the former employees name, age and address.  It also included details such as the date of birth and the amount of annual work bonus he received in his bank account amongst other identifiable data.

Payone GmbH confirmed that this document was sent out in error following an employee making a mistake when re-entering data processed by their third-party payroll provider.  The error arose when the employee was fulfilling an Article 15 GDPR request. The error was spotted by the data subject when he noticed in an email version of the document that the postal address was incorrect. An attempt to notify Payone GmbH of the error went in vain as the document was already irretrievably despatched.

The data subject was alarmed with the incident which exposed him to the possibility of fraudulent activity, amidst reasonable fears his data could end up on the dark web and used by criminals.  Habitually resident in the UK he complained to the Information Commissioner’s Office (ICO) in June 2021. He similarly raised the concern in Germany via The Hessian Commissioner for Data Protection and Freedom of Information (HBDI).

The ICO reprimanded Payone GmbH for the error in their final decision letter.
Similarly, the HBDI cited a violation of Article 5(f) of the General Data Protection Regulation (GDPR) relating to integrity and confidentiality.

The ICO stated in their July 2021 findings that Payone GmbH, “should take steps to ensure that all personal data records are accurate and up to date. Holding inaccurate information, such as addresses, does increase the risk of personal data breaches and poses risks to the security of information”.

The HBDI confirmed in their October 2021 findings that Payone GmbH had taken remedial action. They concluded that a monetary fine would not be imposed on Payone GmbH as they had taken technical and organisational steps in response to the data breach. Data subjects could now request their data in an autonomous portal.

The GDPR, which came into effect in 2018, gave the Information Commissioner’s Office greater powers to tackle data breaches. The new ‘UK GDPR’ charts its own course after Brexit whilst seeking to maintain EU GDPR adequacy.  In extreme scenarios, organisations face penalties of up to £20m or 4 per cent of their global worldwide turnover, whichever is more.

In the years prior to GDPR, the ICO fines were capped at £500,000.

The data subject said: “I am just glad I spotted it; they were going to resend the document again to another wrong address. Prior to Brexit the process would have been commenced via the ICO who in turn would liaise with the HBDI on the data subjects’ behalf; but I found myself communicating with both authorities separately which was an additional step but in the end was surprisingly
effective. Unfortunately, Payone GmbH again sent my incorrect address to the
Workers Pension Trust in January 2022, and documents yet again went to the wrong address. In my opinion they have not learned from the first time and my complaint is sitting with the ICO yet again”.

The former employee is pursuing a remedy under Article 82 UK GDPR via
the Court’s of England & Wales.

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