2018.11.27 LINE Pay
・Strategic partnership with China's WeChat Pay enables foreign travelers to make payments at stores in Japan that accept LINE Pay
・LINE Pay to be connected among Japan, Taiwan, Thailand, and Indonesia, along with Korea's Naver Pay
TOKYO – November 27, 2018 – LINE Pay Corporation, operator of smartphone digital wallet service LINE Pay (http://line.me/pay) available on the LINE messaging app, announces to launch LINE Pay Global Alliance to enable LINE Pay merchants in Japan to tap into inbound tourist demands. LINE Pay aims to become the largest payment service in Japan for inbound tourism.
LINE Pay boasts 40 million registered users (*2) on the LINE app, which has 165 million monthly active users (*1) in its four major markets-- Japan, Taiwan, Thailand, and Indonesia-- making LINE the largest communication platform in Asia.
(*1) as of September 2018
(*2) as of November 2017
Under LINE's localization strategy, LINE Pay so far has operated its service independently within each country and region. The LINE Pay Global Alliance concept is to provide seamless payment service enabling merchants to capture demands not only from domestic users, but also from inbound visitors, which is expected to surge in 2019 and beyond. Starting 2019, payment service users residing in countries and regions that are members of this Global Alliance will be able to make payments at LINE Pay outlets in Japan without having to download a separate app or register for new a service.
With the strategic partnership with Tencent, operator of WeChat, China's largest social media app, this alliance will first enable WeChat Pay users visiting Japan to make payments using QR codes(*2) at LINE Pay merchants and their locations (*1) in early 2019.
(*1) Only LINE Pay Terminal and Printed QR code at the time of release Details will be announced at the time of service launch.
(*2) "QR Code" is a registered trademark of DENSO WAVE INCORPORATED.
In addition, LINE Pay partners with NAVER, the largest search engine operator in Korea, to enable Naver Pay users to make cashless payments in Japan within 2019. LINE Pay merchants would benefit by tapping into the demands of cashless payment service users from the top two countries in terms of number of inbound visitors to Japan. (*3)
(*3) Source: Japan National Tourism Organization (JNTO)
Furthermore, LINE Pay in Japan will connect with its networks in Taiwan, Thailand, and Indonesia, so that tourists can use their local LINE Pay app to make payments in Japan. This means that the worldwide LINE and LINE Pay users would be prospective customers for LINE Pay merchants in Japan. Notably, Taiwan is the third largest market of inbound travelers, following China and Korea, where LINE Pay being the largest mobile payment platform, enjoys a large user base.
LINE Pay will contribute to promote mobile payment in Japan by further responding to inbound tourist demands.
Early 2019 (tentative)
■China: WeChat Pay
Operator: Tencent Holdings Limited
Platform: WeChat, social media app
Number of users: 1.0825 billion globally (MAU)
Number of WeChat Pay users: not disclosed
2019 (tentative)
■Korea: Naver Pay
Operator: NAVER Corporation
Platform: NAVER
Number of Users: 30 million (mobile DAU)
Number of Naver Pay users: 24 million
■Japan / Taiwan / Thailand / Indonesia: LINE Pay
Platform: LINE, communication app
Number of Users: 165 million (MAU)
Number of LINE Pay Users: 40 million
LINE Pay closes the distance between people, money, and services by eliminating existing pain-points – time, effort, fees, and more – of circulating money. The company also aims to lead the mobile FinTech industry as the world moves increasingly towards a cashless and walletless society.
LINE Pay Corporation Overview (as of May 11, 2018)
Company name: LINE Pay Corporation
Head office: JR Shinjuku Miraina Tower 23F, 4-1-6 Shinjuku, Shinjuku-ku, Tokyo
Representative: Yongsu Ko, Representative Director and Chief Executive Officer
Capital: JPY 3.6 billion
Established: May 9, 2014
Primary business:
- Issuance, sales, and management of e-money, other electronic monetary value, and advance payment methods, provision of digital payment systems, and funds transfer
- Sales and operation of LINE@
- Operation of LINE Kakeibo
- Service development
- Advertising agency
LINE Pay Corporation is a registered member of the following organizations and has obtained the following registrations in association with its business:
- Issuers of Prepaid Payment Instruments for Third-Party Business (Registration number: the Director of the Kanto Finance Bureau 00669, Registration date: October 1, 2014)
- Funds Transfer Service Providers (Registration number: the Director of the Kanto Finance Bureau General 00036, Registration date: October 1, 2014)
- Japan Payment Service Association (http://www.s-kessai.jp, Admission date: August 6, 2014)