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Visa and LINE Pay partner to facilitate open-loop payments

Chris Clark, Regional President, Asia Pacific, Visa

Visa and LINE Pay Corporation have announced a strategic partnership that will see them create new financial services experiences for their user base of consumers and merchants worldwide.

Messaging apps are a fast-growing frontier in digital commerce, shifting further towards a single app from which users can do everything. LINE Pay and Visa’s partnership will make that a seamless experience while driving the expansion of globally inter-operable, open-loop payments. The two companies will collaborate across multiple areas such as consumer payments, merchant services and fintech services.

“We are excited to extend this momentum to a range of new solutions in more markets around the world. As the LINE Pay team continues to enhance the utility of the LINE messaging application, we are impressed by the potential of LINE’s distribution power and consumer loyalty to further benefit all players on the Visa network, which serves 2.3 Million consumers in Taiwan,” said Chris Clark, Regional President, Asia Pacific, Visa.

This new partnership extends the existing relationship between Visa and LINE Pay, which includes co-branded LINE Pay Visa cards in Taiwan and to be launched later this year in Japan. Additionally, Visa and LINE Pay will partner on exclusive marketing campaigns and promotions to contribute to Japan’s acceleration towards a cashless society in the lead-up to and after the Tokyo 2020 Olympic Games.

“LINE Pay is more than just a payment method. 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,” said Youngsu Ko, CEO of LINE Pay and LINE’s Fintech Company.

Founded in 2014, Japan-based LINE Pay Corporation, is the operator of the LINE Pay digital wallet and fintech service for the LINE messaging app.

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