LINE Pay has been aggressively expanding locations and merchants that revolve around users’ lifestyle such as convenient stores, shopping malls and transport operators
March 26, 2019 | Chris Kapfer- Getting into the payments business is part of a bigger plan to get into financial services
- May reach the 50 million registered payment users by end 2018 and become the number one payments service in Taiwan
- LINE Pay may succeed where Chinese messaging and payment platforms fail to date – building successful payments platforms outside of their home market.
LINE Pay, one of the leading payments platforms in Japan, Taiwan and Thailand, is becoming increasingly the crucial nod to interconnect LINE’s entire future financial services content such as insurances, asset management and eventually remittances and deposit business.
LINE also wanted to connect the messaging’s app’s large user base to a broader ecosystem and payments was a critical point in this effort.
“LINE Pay is one of our important strategic businesses in LINE’s aim to become the world's leading "smart portal”– a one-stop mobile platform that enables people to connect seamlessly to all the information, services, products and people in their lives, said CEO of LINE Pay Corporation, Youngsu Ko.
As of November 2017 it had a total of 40 million registered payment users across Japan, Taiwan, Thailand and Indonesia. LINE has not disclosed yet any updates to this number nor the portion which is active but the total registered payments base may be approaching the 50 million user mark as of end 2018 primarily driven by its efforts in Japan.
LINE Pay may be approaching the 50 million registered users by end 2018
Fig 1 LINE Pay registered payment users
Source: Asian Banker Research
The company added an estimated one million registered users per months to its payments platform between January 2015 and December 2018, earning a five star in our global ...
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Keywords:Remittance, Fintech, Cashless
