Line, a free messaging app, announced plans for a mobile payments service way back in October. Today, Line has 170 million monthly users and their new payments service has been branded "Line Pay" and will be released around the world very soon.
The significance of the Line Pay launch is not just surrounding the welcoming of a new competitor, Line is attempting to make their app become a complete "lifestyle platform". It will be interesting to see the adoption rate of Line Pay and whether or not it can become the all-in-one platform Line is hoping for.
As of now, Line Pay allows users to complete transactions through the app at affiliated online and brick-and-mortar stores once you have registered your credit cards. However, on the horizon there is a P2P update that will allow users to send money to other users.
At a time when messaging apps are slowing in growth, Line's entrance into the mobile payments space seems very timely.
Where do you see the future of mobile payments heading? Is Line's attempt to create a complete platform for users to seamlessly handle both conversations and payments the future? Join us in Las Vegas, February 23-25 for All Payments Expo 2015 to learn and explore the ever changing landscape of the payments space.
Have any insight to add to this story? Leave it in the comments.
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