Giving life to Rabbit -- on Line
The joint venture between the two retail giants claims to be the first integrated online/offline payment platform in Thailand
A cashless society where banking activities and payments can be carried out fully online is surely not far away -- and the BTS's prepaid Rabbit Card and Line Pay are examples of the latest integration between online and offline payments.
The joint venture between the Rabbit card and Line Pay, a mobile payment platform from Line Corporation, will give more convenience to consumers in daily life. Line Pay does not just function as a channel where Line users buy stickers -- it can be a place where they can purchase stuff or pay for services.
Nelson Leung, chief executive officer of BSS Holdings, the operator of Rabbit card, said the joint partnership between Rabbit and Line Pay on 50:50 investment is a landmark deal for Rabbit. Rabbit Line Pay claims to be Thailand's first integrated online and offline payment platform and is in a prime position to capture the e-payment market.
"With the Rabbit Line Pay, users need not download the application because it's already embedded in every mobile device," he said.
Rabbit is an offline payment platform, providing convenience to both transit customers as well as retail customers. The Rabbit card can already be used by customers wishing to purchase tickets on the rail mass transit system as well as for products at Rabbit's retail merchants.
Currently there are over 5 million Rabbit card holders and over 4,000 Rabbit card readers, primarily in the Bangkok metropolitan area. Rabbit's membership is supported by 20 million monthly BTS riders.
Line Pay is an innovative mobile payment platform from Line that provides fast, easy and convenient payment on the go. In less than a year, the number of registered users has grown to 1.5 million and the number of participating merchants to over 300 nationwide.
Thailand has the world's second largest Line user market. This deal immediately expands Rabbit's potential reach to Line's 33 million users and enables access to the upcountry market. Through collaboration of Rabbit and Line Pay, customers will enjoy convenience for payment solutions across both offline and online merchants.
"This joint partnership will strongly support government policy in driving Thai people into a cashless society," Leung added.
Jin Woo Lee, country manager of Line Biz Plus Limited, the operator of Line Pay, noted that Rabbit is the leading payment service with lots of affiliated well-known offline merchants such as McDonald's, Tesco Lotus and Big C, to name only a few. Line Pay has a strong online base with over 300 merchants nationwide featuring top e-commerce sites in Thailand, such as Lazada and Ensogo.
"We believe that a cashless society will be implemented and it will become one of the trends in the Thai payment industry," he said.
With the official announcement of Rabbit Line Pay, Line Pay and Rabbit will join beneficial channels and business partners together. Line Pay will expand into more top-up channels and payment channels through support from Rabbit, while Rabbit will access mobile users through Line Pay platform.
As of today, the Rabbit Line Pay joint venture will be launched with key merchants that have high volume transactions including McDonald's, bakery shops and coffee shops as pilot cases around the third quarter this year and full service will be released in Bangkok area around the fourth quarter accordingly.
The team at BSS Holdings is now developing the QR payment system on the Rabbit card. Software development will enable the card readers to support the QR code. Rabbit Line Pay plans to release lots of beneficial reward programmes from both Line Pay and Rabbit partners.