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Line and VISA team up to take their payments from the mobile to the whole world

The popular messaging app Line and VISA have reached an agreement that will allow them to expand their mobile payment service. With this agreement, Line Pay will be compatible with the 54 million establishments that are VISA's commercial partners around the world.

Line and VISA will allow payments through a virtual card

With this agreement between Line and Visa, the app will be able to boost its multifaceted business model outside of Japan, a country where it is currently the leader among messaging applications and currently has 80 million users.

Although Line is not a well-known brand outside of Japan and East Asia, it has gradually been permeating in some western countries . And it is that beyond the functions that we can find in any messaging app, Line has integrated more services among which is Line Pay.

With this function, Line and Visa will allow users to use the app's payment system even when the establishment does not accept Line Pay, since it will integrate a VISA “virtual card” that will appear in the chat app.

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But beyond enabling this new payment system, Line and VISA said they will explore "new ways for merchants to interact with the Line Pay service and their digital wallet."

The Tokyo 2020 Olympics: the momentum Line hopes to reach new markets

There is an element that stands out in the agreement between Line and VISA that involves the mytopcompares. Although Line has integrated this technology into its platform through its own cryptocurrency called Link , now the company assures that it will work with VISA around "new experiences based on blockchain" that could include international money transfers .

This doesn't tell us much yet, but perhaps this is finally an element that will give Line a boost outside Asia. At the moment the three main markets for the application are Thailand (44 million users), Taiwan (21 million users) and Indonesia (19 million users).

And it is that the arrival of the next Olympic games in Tokyo scheduled for the summer of 2020 could boost the use of Line as a payment method both in its national market and for tourists who will be visiting the country.

The mobile payments are one of the main focuses of the previous Japanese government to the Olympic Games: the power to pay taxis, food and souvenirs without cash or change currency is one of the key objectives to improve service to tourists, and this Sense Line and VISA assured that they plan to promote their alliance to make “cashless” payments before 2020.

Other platforms have already reached agreements with banks to allow mobile payments

Line and Visa were not the first to combine technology with traditional payment methods. India's mobile payments app Paytm and local Uber rival Ola have also launched cards in association with banks, while some cross-border payment companies like TransferWise, Monzo and others already have links to both VISA and MasterCard to allow payments via this means. .

 

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