Line Pay debuts in Thailand
Line users in Thailand can now register their debit or credit cards on their Line accounts to make mobile payments both online and in stores, free of charge.
Line Pay service is now available in Thailand, the second country after Japan, said Chase Chang, vice-president for global business development of Line Pay, a subsidiary of Line Corporation. It aims to cash in on growing mobile commerce opportunities here, he said.
Line Pay is the group's second-largest project apart from the mobile messaging app it established here four years ago, said Mr Chang.
"We are fully confident that mobile payment service will be a lucrative revenue opportunity in the future thanks to booming mobile commerce in Southeast Asia," he said.
Apart from Japan, Line will focus on countries where it has a strong mobile user base, including Thailand, Taiwan and Indonesia.
Thailand has 33 million Line users, the group's second-largest market in the world. Line has 205 million users globally.
"We expect 10% of our Thai users to use Line Pay over the next 12 months," said Mr Chang, adding the company has signed up 20 leading online merchants.
Prapakorn Lipikorn, head of Line Pay business development in Thailand, said the service received an e-payment licence from the Bank of Thailand.
To access Line Pay, users can register their personal information and credit or debit card numbers in the Line Pay app. Users are required to set their own seven-digit password.
Users can purchase goods or services via their bank accounts with pre-deposited cash for purchases.
To increase its online merchant partners, Line waived the transaction fee until December for merchants who register by today.
Worawoot Aunjai, chief executive of COL Plc, an online arm of Central Group, said Thailand's e-commerce market was expected to grow by 30-40% annually thanks to the proliferation of mobile devices. By 2020, e-commerce is expected to make up 10% of the local retail market.