LINE Pay Taiwan and iPASS Corp. have formed a collaboration with four major international payment brands to facilitate cross-border payments, the companies said in a release.
The initiative is called the Cross-Border Mobile Payment Alliance, and it's meant to allow people from Japan, Korea and Thailand to be able to use their own payment service when they’re in Taiwan. LINE Pay Taiwan hopes to launch the collaboration by the first quarter of 2020.
The six payment services involved are LINE Pay Taiwan, iPASS Corporation, LINE Pay Japan, Rabbit LINE Pay, Naver Pay and NHN PAYCO.
“By connecting the payment ecosystems around the regions, 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,” according to the release.
LINE Pay Taiwan also has plans to expand the number of organizations it partners with, which will help users from more countries enjoy the services.
LINE Pay has also recently changed its logo and launched a new app.
The LINE Pay iPASS Account, a joint service through LINE Pay Taiwan and iPASS Corporation, recently changed its name to LINE Pay Money. Users in Taiwan will also be able to take advantage of LINE Pay Money to make cross-border payments outside of Taiwan, in countries with partnering services.
“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 was founded in 2015, and said it is “aiming to become a leader in the mobile fintech industry by closing the distance between people, money and services for cashless payments and digital wallet services.”
