One of the Largest Messenger Application, LINE announces its Cryptocurrency LINE Pay Visa

Major messenger application, Line made an announcement on June 27th that its affiliate Orico will be in charge of issuing its cryptocurrency "Line Pay Visa (credit card)" at its business strategy presentation "Line Conference 2019." In addition, it said it has decided to collaborate with VISA, the sole payment sponsor, at the 2020 marketing event at the Tokyo Olympics.

The details of the cryptocurrency "Line Pay Visa" are as follows:

- Free Application Fee

- Mobile-optimized service delivery

- Target service launch in August

At Line's "Tokyo Olympics 2020," the company said that collaboration with VISA, the sole sponsor of payment technology, will be a great opportunity to create experiences of the new fintech pay service together.

Also, Visa's collaboration with Line is a comprehensive partnership for the spread of mobile payments in Asia, and Visa expects 'Line Pay' to become a strong partner hub in Asia."

The business partnership of the two companies are detailed as followed:

- Innovative payment services

- Cooperative system for merchant service

- Collaboration of fintech services

Regarding its strategic business of Line Pay, the company also stressed the need to evolve it into an international mobile payment platform in the future. The number of accounts has already surpassed 48 million. In 2018 the total amount of distribution that exceeded 10 trillion won worldwide.

Reporter James Lee (news@dailycoinews.com)의 기사 더 보기

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