Mobile payments are becoming the new trend on a global scale. That momentum is only reinforced by LINE Pay Taiwan’s role in the new international cross-border mobile payment alliance.
Taiwan Pushes Mobile Payment Adoption
Various Asian regions have seen an increase in innovative payment adoption. Particularly mobile payment solutions are of great appeal to consumers. In Taiwan, that push is even more apparent compared to most other regions across the continent.
LINE Pay Taiwan is one of the major players in the mobile payments space. Together with iPASS Corporation, both companies will join forces with other international payment brands. The objective is to launch cross-border payment alternatives that utilize mobile technology.
Their partners include Rabbit LINE Pay, NI-IN PAYCO, Naver Financial, and LINE Pay Japan. Through this collaboration, major players from Thailand, Japan, South Korea, and Taiwan will be represented.
Consumers across Thailand, Japan, and Korea will be able to use their local mobile payment solutions when in Taiwan. It is expected this functionality will become accessible in the first half of 2020.
Ultimately, up to 78 million consumers will be able to benefit from cashless payments. Those payments will be supported by dining owners, shopping districts, and transportation providers, among others. Merchant partners will also be onboarded to increase their domestic and international customer base.
LINE Pay Taiwan Chairman Woongju Jeong adds:
“The mobile payment industry in Taiwan continues to grow. 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.”
By launching the Cross-Border mobile Payment Alliance, an important first step has been taken. The initial six members will pave the way for other partners to become part of this venture in the future. Ultimately, the mobile payment venture will grant users from more countries the benefit of cashless shopping in Taiwan.