From left: Jin-Woo Lee (CEO of Rabbit LINE Pay), Hisahiro Chofuku (COO of LINE Pay Corporation), WoongJu Jeong (Chairman of LINE Pay Taiwan), Hsiu-Chi Chang (Chairman of iPASS Corporation), Jin-Woo Choi (Senior Vice President of Naver Financial) and Myunghwan Choi (COO of NHN PAYCO)
Titled the “Cross-Border Mobile Payment Alliance,” the collaboration will allow people from Japan, Korea and Thailand to use their local mobile payment services when in Taiwan, with the aim of launching operations in the first quarter of 2020. By connecting the payment ecosystems around the regions, more than 78 million users will be able to enjoy the convenience of cashless payments in a wide range of fields, including accommodation, dining, shopping and transportation, while merchant partners will gain a significantly larger user base and related business opportunities. LINE Pay Taiwan is also planning to expand the number of partners in the future, enabling users from more countries to benefit from the alliance.
In addition, to improve the user experience, LINE Pay has launched a new app offering users a faster, easier payment experience, along with a new logo.
Moreover, LINE Pay Taiwan and iPASS Corporation’s joint service, “LINE Pay iPASS Account,” which launched in 2018, has officially changed its name to “LINE Pay Money”, making the service name easier to understand and better reflecting user needs. Taiwan users will also be able to use LINE Pay Money for cross-border payment services outside of Taiwan in the partnering services’ countries.
“The mobile payment industry in Taiwan continues to grow,” said LINE Pay Taiwan Chairman WoongJu Jeong, “We hope to build a path for all LINE Pay users and merchant partners in Taiwan to transcend national borders and to share a borderless payment experience.”
About the Mobile Payment Cross-Border Alliance
Alliance members include:
● LINE Pay Japan (No. 1 in Japan for number of registered users)
● Rabbit LINE Pay (No. 1 in Thailand for market share)
● Naver Pay (Naver Financial, the most used mobile payment service for online shopping in Korea)
● PAYCO (NHN PAYCO, with the broadest coverage of offline merchants in Korea)
● LINE Pay Taiwan (No. 1 in Taiwan for brand awareness and usage rate in mobile payments)
● iPASS (No. 1 in Taiwan for EPI user number).
About LINE Pay Taiwan
LINE Pay Taiwan is the operator of the LINE Pay digital wallet and fintech service for the LINE messaging app. Founded in 2015, LINE Pay Taiwan is aiming to become a leader in the mobile fintech industry by closing the distance between people, money and services for cashless payments and digital wallet services.