LINE Pay Taiwan forms Cross-Border Mobile Payment Alliance

- Alliance with LINE Pay and iPASS will allow people from Japan, Korea and Thailand to use their local mobile payment services in Taiwan

- New app and logo launched

Source: LINE Pay Taiwan. From left: Jin-Woo Lee, CEO of Rabbit LINE Pay; Hisahiro Chofuku, COO, LINE Pay Corporation; WoongJu Jeong, Chairman, LINE Pay Taiwan; Hsiu-Chi Chang, Chairman, iPASS; Jin-Woo Choi, Senior VP, Naver Financial; and Myunghwan Choi, COO, NHN PAYCO.

Mobile payment services in Taiwan are going international. LINE Pay Taiwan and iPASS have announceda collaboration with LINE Pay Japan, Rabbit LINE Pay of Thailand, Korea's Naver Financial and NHN PAYCO, also from Korea, to launch cross-border payment services.

The companies have formed the Cross-Border Mobile Payment Alliance to 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. 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.

The companies are all marque brands in their markets. LINE Pay Taiwan is No. 1 in Taiwan for brand awareness and by popularity, whereas iPASS is the leader in Taiwan in terms of electronic payment institutions (EPIs) supported. LINE Pay Japan  is No. 1 in Japan by number of registered users, while Rabbit LINE Pay is No. 1 in Thailand by market share. Naver Pay's Naver Financial is the most-used mobile payment service for online shopping in Korea, while NHN PAYCO has the broadest coverage of offline merchants in Korea. 

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.

“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.”

LINE Pay Taiwan and iPASS further renamed their joint service from LINE Pay iPASS Account to LINE Pay Money. The move aims to make the service easier to understand and better reflect 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.

In addition, LINE Pay launched a new app offering users a faster, easier payment experience, along with a new logo.