Visa (NYSE: V), the global payments leader, and LINE Pay Corporation, operator of digital wallet and fintech services on the LINE messaging app, today announced a strategic partnership that will see them create new financial services experiences for their collective user bases of millions of consumers and merchants worldwide.
The two companies will collaborate across multiple areas, including:
- Everyday consumer payments: LINE’s 187 million global monthly active users will be able to apply for a digital Visa card from within the LINE app, and over time, add any of their existing Visa cards to make seamless payments from their mobile phone. The companies will also offer consumers additional and enhanced experiences like integrated loyalty programs and tailored offers and new payment capabilities for users when they travel overseas.
- Solutions for merchants: Through Visa, LINE Pay consumers will be able to use LINE Pay branded capabilities at Visa’s 54 million merchant locations worldwide, enabling them to take advantage of LINE Pay offers and services. They will also be able to see these transactions in their LINE Pay digital wallet, even where LINE Pay is not directly accepted. In addition, Visa and LINE Pay will collaborate on ways for merchants to interact with the LINE Pay service as well as LINE Pay digital wallet, supporting the continued growth of globally interoperable payments.
- Fintech services: LINE Pay and Visa will develop new experiences based on blockchain that enable B2B and cross-border payments and alternative currency transactions.
- Marketing: Ahead of the Tokyo 2020 Olympic Games, Visa and LINE Pay will partner on exclusive marketing campaigns and promotions to contribute to Japan’s acceleration towards a cashless society in the lead-up to and after the Olympic Games.
Messaging apps are a fast-growing frontier in digital commerce, as consumers look for more of their everyday tasks, like payments, to be integrated with the apps where they’re spending more of their time. As consumer preferences shift further towards a single app from which they can do everything – transfer money, make an online purchase, pay bills, book travel, and order food – LINE Pay and Visa’s partnership will make that seamless experience a reality for millions of users while ensuring LINE Pay and Visa further drive the expansion of globally interoperable, open-loop payments.
This new partnership extends the existing relationship between Visa and LINE Pay, which includes co-branded LINE Pay Visa cards in Taiwan and to be launched later this year in Japan.
“The Visa co-brand program that currently serves 2.3 million customers in Taiwan is one of Visa’s fastest-growing programs globally,” said Chris Clark, Regional President, Asia Pacific, Visa. “We are excited to extend this momentum to a range of new solutions in more markets around the world. As the LINE Pay team continue to enhance the utility of the LINE messaging application for consumers’ everyday lives, we are impressed by the potential of LINE’s distribution power and consumer loyalty to further drive the growth of the global, open-loop payments ecosystem to benefit all players on our network – consumers, merchants, and issuing and acquiring banks.”
“LINE Pay is more than just a payment method. As we transition to a cashless society, LINE Pay is focused on delivering added value to LINE’s users around the world and business partners,” said Youngsu Ko, CEO of LINE Pay and LINE‘sFintech Company. “With Visa’s global network and infrastructure, LINE Pay users will be able to enjoy the advantages of that innovative, worldwide network.”
As payments move away from traditional plastic cards into smartphones, connected devices, and other digital formats, Visa is working with its partners around the world to enable new consumer experiences that are based on digital cards and extending its network to collaborate with new players. This includes the Visa fintech fast-track program, which makes it quicker and easier to build and deliver new commerce experiences on Visa’s payments network.
 The services as offered by LINE Pay and Visa are subject to local rules and regulations
Accura Scan, The Only Certified Biometric Solution Provider in Middle East & Africa for Banks and Telcos
Global Identity Verification and Digital KYC solutions provider, Accura Scan is pleased to announce being awarded ISO/IEC 30107-03 compliance after passing a presentation attack detection (PAD) iBeta Level 2 audit with 0% FAR, making it one of the few companies worldwide and the only in India, Singapore, APAC & Middle East to have such a recognition.
As part of the testing procedure to assess the performance of Accura Scan face biometric liveness system, which is already being used by clients globally, it was successfully tested with millions of data points in alpha & beta testing modes. Its algorithms were pitted against various forms of spoofing attempts, including but not limited to 3D-printed and curved masks, silicone and paper masks, and videos of real subjects.
Yasin Patel (YP), Accura Scan’s CEO & Founder, expressed great pride in the achievement, adding, “Obtaining the ISO 30107-03 standard after passing the rigorous iBeta level 2 test demonstrates the effectiveness of our solutions against spoofing attacks.” He further announced that in keeping with their motto of ‘Biometrics for All’, Accura Scan would be offering its trusted Identity Verification Suite for free to all start-ups, while established entities would be offered various modules for as little as USD 5,000 a year onwards.
Commenting on this feat, Director – International Sales, Reza Writer, added, “Ambition greater than resources is in the DNA of Accura Scan. We have achieved this feat with a very small but highly skilled & dedicated team that has executed the organizational goal beautifully.”
The ISO 30107-3 framework measures a biometric system’s false acceptance rate (FAR) and false rejection rate (FRR) at the point of presentation. Passing the evaluation with an FAR of 0%, means that the company’s biometric algorithms offer a high level of spoof resistance in all environments.
Headquartered in India, Accura Scan has been completely bootstrapped & profitable since its incorporation. It has firmly established itself in the MENA region over the last 4 years, working with some of the most esteemed Banks, Telecoms & Fintechs globally. As a part of its global strategy, it has now registered itself in Singapore, the EU, the UK, & the US. With top-notch Identity Verification & Digital KYC products, it is confident of making a mark in these markets.
BIM Exchange integrates traditional currency option for buying and selling cryptocurrencies
BIM Exchange revolutionizes the purchase of crypto-currencies: implicity and security guaranteed
BIM Exchange, the French pioneer of crypto-currency exchange platforms, today announces a major breakthrough in the ease of access and security of crypto transactions. With its new feature, it has never been easier to buy and trade crypto-currencies, bridging the gap between the traditional Web and Web 3.0.
Integration of payments in tradtional currencies: Euro, Dollar, Pound Sterling and Swiss Franc
BIM Exchange now enables its users to buy crypto-currencies directly by bank transfer in less than 24 hours, regardless of their currency. The funds are then securely transferred to the user’s decentralized wallet, such as Ledger, TrustWallet, MetaMask or other.
This method considerably simplifies access to digital currencies, while guaranteeing maximum security.
Monzo founder talks Prosper. Company sees incredible demand for its Crowdfund, smashing 130% of its target, raising over £785,000.
Having recently announced its crowdfund was open to the public and with a little more than a week to go, Prosper today confirmed it has hit 130% of its funding target, raising over £785,000.
The company is backed by some of the biggest names in fintech. One of those, Tom Blomfield, the founder and former CEO of digital bank Monzo, said:
“The crowdfunding community was vital to Monzo’s growth and helped us engage with our early users. Like Monzo, Prosper is a customer champion brand shaking up the wealth industry. As I invested in Prosper, it became clear that speaking to the community would also play a part in their journey. It’s only the beginning, but I’m excited to help more people prosper!”
Monzo’s first crowdfunding campaign raised just under £1m at a £30m valuation. Today, that valuation stands at “around £4 billion”, according to Sky News. With a week of its own crowdfund still to go, Prosper hopes to build on that success, already closing in on Monzo’s original raise achievement.
“We’ve been blown away by the demand we’ve seen from our community. It’s a testament to the value we can create building a customer-championing business in the world of saving and investing,” said founder and CEO Nick Perrett.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more.
- DAY TWO OF HONG KONG INVESTOR SUMMIT TACKLES MEGATRENDS IMPACTING THE PLANET’S EIGHT BILLION CITIZENS
- OrangeX Unveils $5M Innovation Fund, Accelerating Support for Bitcoin Ecosystem Growth
- The 2023 Global Investment Promotion Conference Held in Shenzhen, China
- Miami International Holdings Reports November 2023 Trading Results; YTD Options and Equities Volumes Remain at Record Levels
- K2 Corporate Mobility embarks on an incredible expedition to Nepal, trekking to Everest Base Camp and volunteering at Nepalese schools
- SquaredFinancial introduces enhanced Fraud Prevention Framework and uncovers fraud network
- Xinhua Silk Road: Ice collecting festival kicks off in NE. China’s Harbin
- INDONESIA MUST ACCELERATE DELIVERY OF DIGITAL STRATEGY TO ACHIEVE GOVERNMENT’S “TOP 10 GLOBAL ECONOMY BY 2030” AMBITIONS, SAYS GSMA REPORT
- OTP Bank, one of the leading banking groups in Central and Eastern Europe chooses eMACH.ai based complete Digital Core and Lending platform to transform their banking experience
- Bybit Unveils Its Web3 Vision: Pioneering Simplicity, Openness, and Equality in the Decentralized Ecosystem
- C.P. Group and Toyota/Commercial Japan Partnership Technologies achieved new milestones towards decarbonization with multi-faceted solutions across energy, data and mobility
- The 2023 Understanding China Conference: China Narrative Challenges and Opportunities
- Pan Finance Announces the Q4 Award Winners of 2023
- Inaugurating the UMKM EXPO(RT) BRILIANPRENEUR 2023, President Joko Widodo Applauds BRI’s Support in Advancing MSMEs
- Bitget Leads Industry with Solid Proof of Reserves Ratio of 171%
Fintech5 days ago
NOVASPARKS EXPANDS ITS OPERATIONS IN ASIA-PACIFIC
Fintech PR4 days ago
JIVF partners with OpenWay for game-changing fintech transformation
Fintech5 days ago
Broadridge Investment Management Technology Enhances Carlyle’s Private Credit and CLO Portfolio Management Operations
Fintech PR4 days ago
Only 20% of companies globally are meeting their carbon reduction targets, and many acknowledge need for “complete transformation,” according to ENGIE Impact report
Fintech PR4 days ago
EY modelling reveals multiple energy transitions accelerating around the world, but handbrakes risk progress
Fintech PR4 days ago
The Winter issue of World Finance magazine has been published – offering its usual wealth of in-depth and high-quality journalism on a diverse mix of financial topics from across the globe
Fintech PR4 days ago
BingX Appoints Vivien Lin as Chief Product Officer to Elevate User Experience
Fintech PR4 days ago
nShift unveils seven major trends that will impact ecommerce in 2024