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Payment companies unite for Cross-Border Mobile Payment Alliance

David Murphy
From left: Jin-Woo Lee, CEO of Rabbit LINE Pay; Hisahiro Chofuku, COO of LINE Pay Corporation; WoongJu Jeong, chairman of LINE Pay Taiwan; Hsiu-Chi Chang, chairman of iPASS Corporation; Jin-Woo Choi (senior vice president of Naver Financial; and Myunghwan Choi, COO of NHN PAYCO

LINE Pay Taiwan and iPASS Corporation have announced a collaboration with LINE Pay Japan, Rabbit LINE Pay (Thailand), Naver Financial (Korea), and NHN PAYCO (Korea) to launch cross-border payment services.

Titled the “Cross-Border Mobile Payment Alliance,” the collaboration will allow people from Japan, Korea and Thailand to use their local mobile payment services when in Taiwan, with the aim of launching operations in the first quarter of 2020.By connecting the payment ecosystems, more than 78m users will be able to enjoy the convenience of cashless payments in a wide range of fields, including accommodation, dining, shopping and transportation, while merchant partners will gain a significantly larger user base and related business opportunities. LINE Pay Taiwan is also planning to expand the number of partners going forward, enabling users from more countries to benefit from the alliance. Users in Taiwan will also be able to use LINE Pay Money for cross-border payment services outside of Taiwan in the partnering services’ countries.

LINE Pay has also launched a new app offering users a faster, easier payment experience. In addition, LINE Pay Taiwan and iPASS Corporation’s joint service, “LINE Pay iPASS Account,” which launched in 2018, has officially changed its name to “LINE Pay Money”. “The mobile payment industry in Taiwan continues to grow,” said LINE Pay chairman, WoongJu Jeong, “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.”