CTBC Bank Co (中國信託銀行) yesterday launched a co-branded credit card with Line Corp in a bid to tap into sales opportunities from Line Pay, the popular messaging app’s mobile payment service.
The bank aims to issue 1.2 million credit cards within one year, garnering sales of NT$66 billion (US$2.06 billion) in spending during the same period, it said.
Line has about 17 million users in Taiwan, of which 1.3 million have signed on to Line Pay since the payment service was launched, said Wu Meng-chih (吳孟芝), who directs Line Pay’s operations in Taiwan.
Regarding rival payment services offered by Google, Apple Inc and Samsung, Wu said that Line Pay’s prospects would be boosted by its large user base.
“We welcome more players to enter the field and quicken the expansion of Taiwan’s mobile payment market, and help more consumers become familiar with the service,” Wu said.
Line Pay has also set its sights on facilitating more online, as well as offline, shopping options for consumers, such as at department stores.
She said that Line Pay’s transaction volume has risen three-fold since it became available at 7-Eleven and FamilyMart, the nation’s biggest convenience store chains.
However, Wu said that Line Pay is unable to store electronic receipts and that the company would address the shortcoming.
CTBC Bank is offering credit card users Line Points rewards of up to 3 percent of purchases, which can be used to purchase emoticon stickers as well as merchandise from the messaging app’s shopping platform, it said.
The co-branded CTBC Bank credit cards are available in 10 variations, each featuring the messaging app’s popular characters.
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