Line Launches Social Banking Platform in Thailand
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Thailand is the first market where Line has integrated banking services on its main mobile platform. Japan-based Line, which operates one of Thailand’s most popular social media platforms, has rolled out banking services in the kingdom in partnership with Kasikornbank.
The Line BK service allows users to customers to transfer money, open savings accounts, apply for loans, and make payments directly from the messaging platform. It also promises high-interest rates for saving accounts and a range of banking services, including personal loans for freelancers and individuals without fixed incomes, according to an announcement on Tuesday.
The company said it plans to expand banking services into other countries, including Japan, Taiwan, and Indonesia.
The Line messaging app launched in 2011 and since then has grown into a diverse, global ecosystem that includes AI technology, fintech and more.
In Thailand, LINE introduced its messenger service in 2012, and quickly grew into the country’s leading social media platform.
Questions & Answers
Q.Which specific banking services does Line BK offer to its users in Thailand?
Which specific banking services does Line BK offer to its users in Thailand?
Line BK allows customers to transfer money, open savings accounts, apply for loans, and make payments directly through the Line messaging platform. It also offers personal loans for freelancers and individuals without fixed incomes.
Q.Which partner is Line collaborating with to provide these banking services in Thailand?
Which partner is Line collaborating with to provide these banking services in Thailand?
Line has partnered with Kasikornbank to roll out its banking services in Thailand. This collaboration enables the Line BK service to integrate financial functionalities directly into the popular messaging app.
Q.Which other countries does Line plan to expand its banking services into after the launch in Thailand?
Which other countries does Line plan to expand its banking services into after the launch in Thailand?
After launching its banking services in Thailand, Line intends to expand these offerings into other countries. Its future expansion plans include Japan, Taiwan, and Indonesia, as stated by the company.