BNP Paribas (China) Limited and LianLian Yintong Electronic Payment Co., Ltd (LianLian Pay) have signed an agreement to provide an integrated collections solution for e-commerce businesses in China. The solution streamlines the collections process by consolidating online sales and offline mobile collections onto a single platform.
With the adoption of e-commerce and the growing prominence of digital as a payments channel, China, is already the world’s largest market for mobile payments[1], and it’s expected to see total cashless payments reach USD 45 trillion by 2021[2]. As the trend continues to grow, consumers, sellers and suppliers are increasingly asking for safer, faster and more reliable platform technology which can also connect them to a global financial network.
Under this partnership, BNP Paribas (China) and LianLian Pay have jointly developed a digital ecosystem to meet the evolving needs of corporate treasurers with innovative solutions. It furthers BNP Paribas’ strategy to simplify and speed up banking operations through innovative services such as digital applications and new payment methods.
CG Lai, CEO of BNP Paribas (China) Ltd, said: “Innovation is in our DNA. In China, we are continuously investing in cutting edge technology to deliver innovative solutions to clients. The strategic partnership with LianLian Pay, a leader in digital payments, will enrich our cash management service lineup, enabling us to meet the varying needs of emerging businesses which stand to benefit from China’s growing e-commerce market.”
Zuo Gang, senior vice president of LianLian Yintong Electronic Payment Co., Ltd., said: “We are very pleased to partner with BNP Paribas, a leading global bank with a strong international network. Our partnership will bridge Chinese digital know-how with the global market.
“Together, we can help our global corporate clients optimise their operations and explore new opportunities. Ultimately, our single-integrated platform will improve the e-commerce customer experience.”
Pierre Fersztand, Global Head of Cash Management, Trade and Payments, BNP Paribas, said: “This strategic partnership will allow LianLian Pay and BNP Paribas to combine our complementary expertise to effectively address payment and collection pain points in the new e-commerce era. Meanwhile, the data emerging from an integrated e-commerce collection channel will provide invaluable insights to companies in their strategic decision making process.”
In recent years, BNP Paribas has been actively undertaking digital transformation, adopting a variety of cooperation models with companies in the financial technology ecosystem in a bid to push the boundary of its products and services, responding to the needs of digital era more flexibly.
Founded in 2003, LianLian Yintong Electronic Payment Co., Ltd (Lianlian Pay) is one of the top mobile payment companies in China, the pioneer and leader of industry payment solutions, State Planning Key Software Enterprise and National High-tech Enterprise. LianLian Pay has been priding itself in focusing on and excelling at providing all-in-one payment solution in the form of CUP cards mobile payment, cross-border payment and settlement, RMB and foreign currency disbursement for tens of millions of individual customers and thousands of merchants and partners.
[1] Capgemini and BNP Paribas, World Payment Report 2018.
[2] Economic Times, Oct11 2017, In China, Cash is quickly becoming obsolete.
Press contact:
Saima Farooqi +852 21085457 saima.farooqi@asia.bnpparibas.com
A BNP Paribas survey of asset managers and owners incorporating ESG strategies finds that the majority of investors in the Asia Pacific region are aligning their ESG investment framework with the UN Sustainable Development Goals (SDGs). Data and technology costs remain barriers to ESG integration, but investors are optimistic, with over half predicting up to 75% of their funds will be allocated towards ESG by 2021.
The key findings of the ESG Global Survey 2019 include:
- Stronger commitment to ESG investment: While Asia Pacific respondents lag behind global counterparts in terms of asset allocation into ESG (15% vs 18% globally), they are more optimistic about allocation of funds in the future, with 55% of Asia Pacific respondents expecting to incorporate between 50% – 75% in ESG funds in two years’ time, compared to 49% globally.
- The outperformance factor: ‘Improved long-term returns’ was ranked as the top reason for ESG investment for Asia Pacific respondents, with almost two-thirds (57%) ranking this as a key reason compared to 52% globally. 70% of Asia Pacific respondents expect their ESG portfolios to outperform over the next five years, while 60% of global respondents do so.
- The great disclosure: While returns are top of mind for Asia Pacific respondents, more of them (62%) expect an increase in ESG disclosure requirement over the next 12 months compared to only 59% globally.
- New jobs in ESG investing: The growing prevalence of ESG investing has led to a number of new roles requiring relevant expertise. Asia Pacific asset owners and managers are more likely to hire new ESG talent from non-traditional backgrounds (38% vs 29% globally), train incumbent teams in ESG principles and best practice (46% vs 40%) and hire or increase numbers of external ESG consultants/ specialists (48% vs 34% globally).
- The UN SDGs are a new compass: More Asia Pacific respondents (76%) indicated that their organisation aligns investment framework mainly by setting SDG-related revenue targets for investee companies with the UN’s SDGs than globally (65%).
- Tactical impact: Globally, the highest number of respondents indicated that investing in companies based on their ESG profiles have had the greatest impact on their sustainable strategy (45%). In Asia Pacific, respondents seem to be more convinced by benchmarks, where 42% of respondents indicated that benchmarking funds against an ESG benchmark have had the greatest impact, compared to only 37% globally.
- Data and technology costs are barriers: As was the case in 2017, data remains the biggest barrier – ahead of costs, a lack of advanced analytical skills and greenwashing risks. One-quarter of respondents cite technology costs as a barrier to ESG integration (doubling from 16% in 2017).
Madhu Gayer, Investment Analytics & Sustainability Manager, BNP Paribas Securities Services, said: “While Asia’s optimism in terms of asset allocation to ESG may not come as a surprise as multiple Asian markets, not least China, have pushed for increased regulation surrounding ESG disclosures, challenges such as transforming disparate data sets into actionable insights and technology costs hinder progress.
“As a bank committed to building a sustainable future, we are pleased the BNP Paribas survey identifies these pain points where we can work together to solve”
About the survey:
BNP Paribas surveyed 347 institutional investors incorporating ESG strategies representing about USD 23 trillion in assets under management. Across Asia Pacific, 110 asset owners and managers were included from China, Hong Kong, Japan, India, Malaysia, Singapore, Australia and New Zealand.
To access the full report, please visit: https://securities.bnpparibas.com/global-esg-survey.html
Press contact:
Saima Farooqi +852 2108 5457 saima.farooqi@asia.bnpparibas.com