Fintech

LINE Users Can Soon Pay With Visa: Cross-Border, 'Alternative Currency' Payment To Come

Today, LINE Pay Corporation, operator of digital wallet and fintech services on the LINE messaging app, announced a partnership with Visa.

Under the partnership, they will be collaborating across multiple areas.

First of all, over 187 million LINE users worldwide will be able to apply for a digital Visa card from within the LINE app to make cashless payments from their phone.

Over time, users will be able to add their existing Visa cards to the app.

Image Credit: LINE

Currently, LINE Pay is only available in Japan, Thailand, Indonesia, and Taiwan, where there are 40 million registered LINE Pay users.

LINE and Visa also plan to offer users “additional and enhanced experiences” like integrated loyalty programmes, tailored offers, and new overseas payment capabilities.

With the partnership, LINE Pay users will be able to use LINE Pay branded capabilities at Visa’s 54 million merchant locations worldwide.

LINE Pay and Visa will also be developing “new experiences based on blockchain” which will enable B2B and cross-border payments, and also alternative currency transactions.

Said Youngsu Ko, CEO of LINE Pay and LINE’s Fintech Company: “As we transition to a cashless society, LINE Pay is focused on delivering added value to LINE’s users around the world and business partners. With Visa’s global network and infrastructure, LINE Pay users will be able to enjoy the advantages of that innovative, worldwide network.”

 

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