Line Corp tie-up with Tencent to provide mobile payments in Japan

Line Corp shares jumped today after a report the Tokyo-listed messaging app operator would enter a tie-up with Tencent to provide mobile payments in Japan. Line – which already offers customers in Japan, Taiwan and Thailand its Line Pay service – will partner with the Chinese tech giant to offer an online payment system for Japanese retailers capitalising on a rise in tourists from China… Shares in Line rose as much as 17.2 per cent in early trading in Tokyo. The stock was up 12 per cent on the day in later trading but still off more than 15 per cent for 2018. The report of Tencent’s push into Japan comes as the company looks to catch up with arch rival Alibaba in payments, and as China’s duo of tech titans quicken the roll out of their services into offline stores, hotels and tourist attractions – both at home and abroad. Overseas expansion is largely restricted to attracting Chinese tourists, who can use Alipay or Tencent’s WeChat Pay platform to pay for everything from boat rides up the Seine to meals in Las Vegas casinos.

Edward White and Louise Lucas