LINE Pay Partners Visa For Next Gen Digital Payment Solutions
Japanese messaging platform LINE Corp.’s mobile money transfer and payment service LINE Pay is partnering payments major Visa to develop blockchain-powered next generation fintech solutions for their combined global consumer and merchant user bases.
The two companies will collaborate in the field of global payments, transfer platforms and blockchain to develop the solutions. Visa cards will also be integrated in the LINE app.
The integration of Visa cards will enable LINE’s 187 million global monthly active users to apply for a digital Visa card from within the LINE app, to make seamless payments from their mobile phone.
Using Visa, LINE Pay users will also be able to use LINE Pay branded capabilities at Visa’s 54 million merchant locations worldwide.
Ahead of the Tokyo 2020 Olympic Games, the LINE Pay and Visa partnership will run exclusive marketing campaigns and promotions to boost Japan’s acceleration towards a cashless society before and after the Olympic Games.
As part of the deal, the companies will further drive the expansion of globally interoperable, open-loop payments ecosystem.
As Messaging apps are fast-growing and consumers preferring a single app to do their everyday tasks, the concept of integrating Visa cards with LINE will provide a seamless experience to users. It will transfer money, make an online purchase, pay bills, book travel, and order food from this one app.
LINE Pay and Visa already have an existing relationship, which includes co-branded LINE Pay Visa cards in Taiwan and same to be launched later this year in Japan. The Visa co-brand program currently serves 2.3 million customers in Taiwan.
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