#USA #New York #Small Business #Lili #International Payment

Lili Introduces International Payment Solutions

Lili, a financial platform tailored specifically for small business owners, has announced the launch of international wire payments across 27 countries. This innovative service allows small businesses to send and receive payments globally, breaking geographical barriers and providing opportunities for expansion.

Understanding the Needs of Small Businesses

In an increasingly competitive market, small businesses often lack the infrastructure needed for complex cross-border transactions, which are typically dominated by larger corporations. According to research by FXC Intelligence, the cross-border payments industry surpassed a staggering $190.1 trillion in 2023, with projections indicating a growth of 53% by 2030. As more small enterprises engage in international trade, there is a pressing need for accessible payment solutions that empower them to compete effectively.

Features of Lili's International Payment Service

Lili’s new service simplifies the international payment process for small business owners by providing several strategic advantages:

• - Unlimited Inbound Transfers and High Outbound Limits: Business owners can manage their finances more efficiently with no caps on incoming payments, along with generous outbound transaction limits.
• - Enhanced Security: Lili prioritizes customer safety by incorporating robust security measures that protect sensitive financial transactions.
• - Quick Payment Processing: Users can expect transactions to be completed in as little as 24 hours, enabling faster access to funds.
• - Integrated Bill Pay Solution: Lili’s platform automatically organizes international payment details, enhancing financial management and fostering stronger relationships with vendors.

Empowering Business Owners

Lilac Bar David, co-founder and CEO of Lili, expressed her enthusiasm for the new service, stating, "Through international payments, small business owners will have the flexibility to connect with more vendors and customers abroad, helping them innovate their offerings and expand their client base. This quick and cost-effective way of streamlining payments will allow our customers to better compete in today’s global marketplace.”

Future Expansion Plans

Looking ahead, Lili plans to broaden its reach by expanding the list of eligible countries for these services in the coming year. This expansion will further support small businesses in their endeavors to access new markets and opportunities.

About Lili

Founded in 2019, Lili offers a comprehensive financial platform that combines business banking with built-in accounting and tax preparation features. Designed specifically to address the unique needs of small business owners, Lili simplifies financial management, empowering its users to focus on growth and success.

Backed by prominent investors such as Group 11, Foundation Capital, and Target Global, Lili operates out of New York and serves customers in all 50 states. For more information about Lili and its services, visit lili.co.

The launch of international payment services marks another significant step for Lili in supporting the financial health and expansion of small businesses across the globe.