Visa Announces New Fintech Partnership With LINE Pay

Visa (NYSE:V) announced on Thursday it has partnered with LINE Pay Corporation, an operator of digital wallet and fintech services on the LINE messaging app, to launch new financial services experiences for its collective user bases of millions of consumers and merchants worldwide.

The two companies will reportedly team up for multiple financial areas, which includes the following:

  • Everyday consumer payments
  • Solutions for merchants
  • Fintech services.
  • Marketing

Speaking about the partnership, Chris Clark, Regional President of Asia Pacific at Visa, stated:

“The Visa co-brand program that currently serves 2.3 million customers in Taiwan is one of Visa’s fastest-growing programs globally. We are excited to extend this momentum to a range of new solutions in more markets around the world. As the LINE Pay team continue to enhance the utility of the LINE messaging application for consumers’ everyday lives, we are impressed by the potential of LINE’s distribution power and consumer loyalty to further drive the growth of the global, open-loop payments ecosystem to benefit all players on our network – consumers, merchants, and issuing and acquiring banks.”

Youngsu Ko, CEO of LINE Pay and LINE’s Fintech Company, went on to add:

“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. With Visa’s global network and infrastructure, LINE Pay users will be able to enjoy the advantages of that innovative, worldwide network.”

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