LINE Pay Taiwan to roll out cross-border payment service for Japan, Korea, Thailand

04-Dec-2019 Intellasia | TaiwanNews | 6:02 AM Print This Post

The new cross-border service is set to hit the road in Q1 2020, giving visitors from Japan, Korea and Thailand access to the mobile payment platform in Taiwan

LINE Pay Taiwan is set to expand its mobile payment service to overseas in collaboration with LINE Pay affiliates in Japan, South Korea, and Thailand, in Q1 2020 the earliest.

Known as the most-used mobile payment system in the country, LINE Pay Taiwan made several announcements on Tuesday (December 3), including the launch of its own application LINE Pay, renaming its iPass service into LINE Pay Money, a new partnership with food delivery platform Foodomo, as well as the plan to allow LINE Pay users in Taiwan, Japan, Korea, and Thailand to make payments while travelling in each other’s country.

The number of LINE Pay users in Taiwan has been skyrocketing over recent years. LINE Pay Taiwan GM John Ding said on Tuesday that its number of users grew 47 percent to 7.3 million from a year earlier, while the number of its Taiwanese partnered retail stores and service providers increased by 47 percent to 164,000.

Credit cards registered to the platform were up 48 percent to 5 million and the number of transactions processed through the platform jumped 48 percent to0.21 billion during the same period, he added.

LINE Pay continues to expand its mobile payment ecosystem by collaborating with Japan’s LINE Pay, Thailand’s Rabbit LINE Pay, and South Korea’s N Pay as well as NHN PAYCO to allow cross-border payments between each other. LINE Pay Taiwan aims to enable the service for the inbound travellers from Japan, Korea, and Thailand in the first quarter of 2020 at the earliest, followed by the outbound travellers to the three countries the next quarter.

Japan, Korea, and Thailand were among the top 10 vacation spots for Taiwanese in 2018, according to Taiwan Tourism Bureau’s data.

LINE Pay Taiwan’s marketing head Yeh Chun-yi said the new service will help Taiwanese users to find the partnered stores and process payments without fuss while travelling to the three countries, and even to gain points at their high-profile shopping outlets. On the other hand, LINE Pay merchants in Japan can tap into at least four million tourists from Taiwan a year after the service hits the road.

The details about earning and exchanging LINE Points in different countries have yet to be revealed.

The brand new LINE Pay application is also available for download from Tuesday (December 3) to enable a faster and more user-friendly mobile payment experience. The account balance can be hidden to protect users’ privacy. Meanwhile, LINE Pay’s partnered electronic payment and stored value cards service provider iPass, where users can process wire transfers to other LINE Pay users, has been renamed “LINE Pay Money” to highlight its nature as an electronic wallet. The service has remained unchanged despite the renaming, according to the company.

https://www.taiwannews.com.tw/en/news/3829565

 


Category: Taiwan

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