Line Pay Taiwan Forms Cross-Border Payments Alliance
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The digital wallet and fintech service for messaging app Line will allow people from Japan, Korea and Thailand to use their local mobile payment services when in Taiwan.
Line Pay has announced a cross-border mobile payment alliance to connect the ecosystems of payment operators Line Pay Japan, Rabbit Line Pay (Thailand), Naver Financial (Korea), and NHN PAYCO (Korea), the firm announced in a statement on Monday.
This will allow users of services in the alliance to make cross-border payment services in the partnering services’ countries. Operations are planned to be launched by the first quarter of 2020, and Line said it plans to grow the number of partners in the future so users from more countries can benefit from the alliance
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, Line Pay Taiwan chairman WoongJu Jeong said in the statement.
Questions & Answers
Q.Which specific countries are involved in this cross-border payment alliance?
Which specific countries are involved in this cross-border payment alliance?
The alliance connects payment operators from Japan, Korea, and Thailand with Line Pay's services in Taiwan. Users from these four countries will be able to make cross-border payments within the partnership.
Q.When is this new cross-border payment service expected to become operational?
When is this new cross-border payment service expected to become operational?
Line Pay plans for the cross-border payment operations to be launched by the first quarter of 2020. The firm also stated its intention to expand the number of partners in the future.
Q.What is the primary goal Line Pay hopes to achieve with this alliance?
What is the primary goal Line Pay hopes to achieve with this alliance?
Line Pay Taiwan chairman WoongJu Jeong stated the aim is to create a smooth path for users and merchants in Taiwan to experience borderless payments, transcending national borders.
Q.Which specific payment operators are part of this new alliance?
Which specific payment operators are part of this new alliance?
The alliance includes Line Pay Japan, Rabbit Line Pay (Thailand), Naver Financial (Korea), and NHN PAYCO (Korea). These operators will connect their ecosystems for cross-border transactions.