Line Pay Taiwan Ltd (連加網路商業) yesterday reported that the number of transactions and the total value of transactions each rose 70 percent year-on-year to 160 million and NT$74.6 billion (US$2.47 billion) respectively in the first half of this year.
The number of transactions included those from the company’s mobile payment product Line Pay, which links customers’ credit cards with the electronic payment service, and its iPass Money service, which connects with customers’ bank accounts.
Line Pay did not disclose a breakdown of the transactions differentiating the two products, both of which can be accessed through the messaging app of its affiliate Line Taiwan Ltd (台灣連線).
Photo courtesy of Line Pay Taiwan Ltd
The company attributed the growth in transactions to more merchants accepting Line Pay as well as the company’s close collaboration with banks and insurers.
A series of marketing activities in the first half of the year also helped boost the services’ profile, the company said in a statement.
From breakfast vendors to restaurants in local night markets, more than 400,000 merchants accept Line Pay, the company said.
Meanwhile, by partnering with 14 insurance companies and 15 banks, the company said that consumers are able to buy insurance policies directly through its mobile payment tool and apply for loans through its banking platform.
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