In August, it is announced that Line Pay integrated its merchants with WeChat Pay. The Line Pay Corporation regulates mobile money transfer of Line Pay as well as provides payment service on the Line messaging application. Line Pay is planning to get the number one position in providing payment service for tourism in the country.
According to the press release, after completion of system integration, the users of WeChat Pay can scan the QR code of the merchants of Line Pay to pay the amount with their WeChat balance. The main of this partnership is to target the Chinese audience as WeChat application is mostly used by the people of China. This service will be great for the Chinese tourists that are visiting Japan.
Individuals, stores, or businesses that have signed in Line Pay account will be able to accept the payment through Naver Pay as well as WeChat Pay in the Line Pay Global Alliance. There is no need to have any different registration or screening process for the payment. It is easy to manage all the payment options in a single account.
There will be no fees charged for the participating merchants to accept the WeChat payments until 31st July 2021. It is a one-way partnership for the users of WeChat that are traveling to Japan. But, Line Pay is unaccepted at WeChat Pay payment locations in China. This new service will be available through the QR code. Line Pay is increasing its users that can get services in Japan.
The most popular payment services in the world, WeChat has more than 1.118 billion users. This partnership is quite convenient for Chinese tourists because they can use their payment service and avoid the hassle of buying yen or other payment options in Japan.
Earlier in June, Line Pay had partnered with Visa to build blockchain solutions for B-2-B and cross-border payments.