Line Pay Corporation and Visa have agreed to launch a co-branded credit card in Japan.
Line Pay is the branch of the Japanese messaging giant Line that manages payments within the communication system.
The new Visa credit card will begin to be issued in the coming months, thus increasing the offer of payment solutions for users of the system.
The connection between Line and the Visa credit card will allow users to receive and make payments throughout Japan, with a system that will create a temporary balance connected to the messaging system.
In this way, those who have money deposited in their Line account will be able to make payments directly, without having to use their current account, in a similar way to what happens with Paypal, where the user can pay with a connected card or with an internal balance, if available.
“As LINE Pay has grown, our top priority has always been providing the best possible user payment experience. We believe the launch of the LINE Pay-Visa co-branded credit card will greatly improve the entire LINE Pay platform, adding a diverse range of easy-to-use features and driving a significant increase in users“, said Youngsu Ko, CEO of Line Pay Corp.
The Visa card payment system will also allow customers to obtain specific discounts and promotions.
In August last year, Line announced the introduction of the Link token, which was intended to be another tool in the messaging payment and transaction system and reward the system’s internal dApp developers.
Currently, the platform is still under development, but the launch of the cryptocurrency and its listing on the Singapore exchange Bitbox, also part of the Line group, has not yet been implemented, thus presenting a delay of a few months of the project compared to the timeline.
When this remuneration system is completed, we will have a complete payment and remuneration channel that almost completely merges cryptocurrencies and traditional systems. According to data released in December 2018, the Line network has 600 million registered users worldwide, of which 217 million are active every month, outperforming even Snapchat.