Tag: Line Pay

Mobile payments competition is growing in Asia

| November 12, 2014

New payment services are being launched throughout Asia

Competition in Asian mobile payments space is heating up. Samsung Electronics, one of the world’s largest mobile device makers, has announced that it will be launching a new payment service in the near future. The company has partnered with Yelopay and six of South Korea’s commercial banks for the endeavor. The new service, dubbed Samsung Wallet, is expected to be made available by the end of this year and will come pre-installed on all of Samsung’s new Galaxy devices.

Samsung Wallet is expected to see a limited release by the end of this year

The Samsung Wallet will support peer-to-peer money transfer as well as allow users to make payments at participating retail locations. There will be no commission charged on transactions made through the new service, which may make it quite popular among businesses looking to involve themselves in digital commerce. Samsung wallet is being designed to support both online and offline payments as well. While the Wallet service is slated for an initial launch at the end of the year, Samsung has not yet detailed a full timeline for commercialization.

LINE looks to break into the Japanese mobile commerce market

Mobile Payments - AsiaIn Japan, mobile service provider LINE is planning to launch its own payment platform with the help of Naver, the country’s largest Internet service provider. The new service, called LINE Pay, is meant to be incorporated into LINE’s existing mobile messenger platform. The service will support mobile payments for digital purchases, as well as banking transactions.

Small companies may find it more difficult to compete in the payments space in the coming years

Mobile commerce has been particularly popular throughout Asia, where the demand for new payment services has been on the rise for some time. Consumers have become quite comfortable with the concept of shopping for and purchasing products with their mobile devices, and many companies are beginning to take steps to provide these consumers with the services they want to use. It may become increasingly difficult for small companies to find traction in Asia, however, due to the increasing number of large companies, like Samsung, looking to break into the digital payments space.

Line to expand into mobile payments

| October 13, 2014

Japanese app developer is beginning to expand its services into mobile commerce

Developers of mobile messaging applications are beginning to push into the mobile commerce space. These apps have won popularity for allowing people to message one another for free, but soon people may be using the apps to pay for goods and services and money transfers. Line is the latest app developer to show interest in the mobile payments space and the company is beginning to develop its own payment platform.

Company has major plans for the future after delaying its initial public offering

Line had plans to launch an initial public offer this year, but these plans have been delayed due to the company’s interests in expanding its services. The Japanese company has plans to develop a ride-share application that is similar to Uber, allowing people to purchase rides from private drivers that are associated with the company. Line is also developing an in-door map service and a food delivery service. The company is also branching into the online music streaming sector, offering mobile consumers a way to listen to music through an app.

Line Pay will allow users to pay for goods and services and transfer money to friends and family

Company extending into mobile paymentsThe company is showing particular interest in mobile payments, however, due to the massive revenue potential that the field of digital commerce represents. The Line Pay app, as it is called, will allow users to make payments at convenience stores by linking the app to their bank accounts or credit cards. The app can also be used for money transfers to friends and family. It will also allow users to split restaurant bills easily.

Line will face strong competition in the mobile commerce space

Line will face major competition in the mobile commerce space. The market is currently crowded with a vast number of payment startups that are looking to take advantage of the growing interest consumers have in mobile shopping and payments. Companies like Tencent and Alibaba currently hold a commanding presence in the Asian mobile commerce space, and Line will have to battle these two companies for the favor of consumers.