LINE Pay Taiwan and iPASS have signed partnership agreements with several players in the payments space to enable cross-border payments.
The other payment players that are part of the initiative are LINE Pay Japan, Rabbit LINE Pay (Thailand), Naver Financial (Korea) along with NHN PAYCO (Korea). The partnership will be known as the Cross-Border Mobile Payment Alliance.
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By GlobalDataThe aim of the alliance is to enable people from Japan, Korea, and Thailand to make payments utilising their local payment services while visiting Taiwan.
LINE Pay Taiwan chairman WoongJu Jeong said: “The mobile payment industry in Taiwan continues to grow.
“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.”
The service will be effective in the first quarter of next year, with plans to increase the partner network later.
Currently, the alliance is said to benefit over 78 million users across dining, shopping, accommodation, and transportation sectors, among others.
Meanwhile, LINE Pay also unveiled that it has rolled out a new app to ease the payments process.
Additionally, the LINE Pay iPASS Account has now been renamed as LINE Pay Money.
Through the service, users in Taiwan can make cross-border transactions outside of the country.
