American Express Company + LianLian DigiTech Co., Ltd.
American Express Company
New York, New York · 1 relationship
Active relationship
Joint Venture · 2017–present
LianLian DigiTech Co., Ltd.
Hangzhou, Zhejiang · 1 relationship
Analysis
American Express and LianLian DigiTech entered a joint-venture agreement in 2017 to establish Express (Hangzhou) Technology Services Company Limited. LianLian's current company history identifies the venture as its partnership with American Express and says it was created to support domestic card clearing and related payment services. [1]
In June 2020, the joint venture received a bank-card clearing license from the People's Bank of China. LianLian describes it as the first Sino-foreign joint-venture bank-card clearing institution established in China, providing clearing and settlement for American Express-branded cards issued by Chinese banks. [1] The venture was formally inaugurated in Hangzhou in August 2020. [2]
The relationship created a domestic network for American Express-branded RMB transactions rather than merely extending foreign-issued card acceptance. That regulatory and infrastructure role makes it a significant bilateral finance partnership with continuing operations. [1]
Participants
Continue through either entity
New York, New York · 1 record in this database
American Express is a global payments and premium-lifestyle company founded in 1850 and headquartered in New York. Its corporate profile says it serves consumers, small and medium-sized businesses, large corporations and merchants through its global payments network. [1]
American Express entered a joint-venture agreement with Chinese fintech LianLian to establish Express (Hangzhou) Technology Services Company Limited. The venture later became the first Sino-foreign bank-card clearing institution licensed in China. [2]
Hangzhou, Zhejiang · 1 record in this database
LianLian DigiTech is a Hangzhou-founded digital-payment company established in 2009 and listed on the Hong Kong Stock Exchange in 2024. The company says its core businesses include global and domestic payments, acquiring, foreign exchange and payment aggregation. [1]
LianLian entered a joint-venture agreement with affiliates of American Express in 2017 to establish Express (Hangzhou) Technology Services Company Limited. LianLian says the venture received a bank-card clearing license in June 2020 and became China's first Sino-foreign joint-venture bank-card clearing institution. [1]