LINE messaging service and Visa announce partnership for LINE Pay
In response to the growing trend of using messaging services to facilitate transactions, messaging service LINE announced that it's partnering with financial services company Visa.
In a press release covering the announcement, LINE cites its 187 million global monthly active users as a basis for the partnership, with marketing starting ahead of the Tokyo 2020 Olympic Games. The instant messaging app will allow anyone that uses it to apply for a digital Visa card to use within the app. Over time, the app will also enable users to add existing Visa debit and credit cards to make payments via their smartphone.
In addition to in-app virtual credit cards and payments, LINE and Visa will also blockchain-based business-to-business and cross-border currency transactions and payment services. The partnership is aiming to accelerate Japan's progression to a "cashless society" in time to support the influx of international tourism that the Tokyo 2020 Olympic Games will bring.